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THE CONCEPT OF LOCAL DEVELOPMENT: A STAGES MODEL OF ENDOGENOUS REGIONAL GROWTH *
Author(s) -
Coffey William J.,
Polèse Mario
Publication year - 1984
Publication title -
papers in regional science
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.937
H-Index - 64
eISSN - 1435-5957
pISSN - 1056-8190
DOI - 10.1111/j.1435-5597.1984.tb00823.x
Subject(s) - local development , local economic development , economic geography , economic system , entrepreneurship , regional development , position (finance) , human capital , economics , process (computing) , endogenous growth theory , regional science , economic growth , geography , computer science , finance , operating system
The concept of local development is defined as a particular form of regional development, one in which endogenous factors occupy a central position. A stages model of local development is proposed: 1) the emergence of local entrepreneurship; 2) the “take off” of local enterprises; 3) the expansion of these enterprises beyond the local region; and 4) the achievement of a regional economic structure that is based upon local initiatives and locally created comparative advantages. The theoretical and empirical foundations of this model are examined, with particular emphasis upon the roles of the entrepreneur and of human capital in the process of economic growth, and upon the spatial effects of the expansion of the firm.