Emergent concepts in local economic development

Andrew Wear

Local Economy, 2023, vol. 38, issue 8, 804-826

Abstract: This paper identifies and explores the local economic development concepts that are the focus of the most highly cited papers published between 2013 and 2023. It finds that many emergent concepts describe the functioning of modern, knowledge-intensive economies (agglomeration, innovation ecosystems, mission-led innovation, global production networks, Industry 4.0, smart cities and institutions) and the uncertainty they are experiencing (economic resilience, gig economy and work from home). Other concepts deal with the opportunity associated with greater inclusion (female entrepreneurship) and the changing nature of rural economies. Finally, substantial emerging literature tackles the opportunities and challenges associated with the transition to an economy that does not outstrip the planet’s natural resources (clean energy transition, circular economy and degrowth). These ideas do not reconcile easily into a coherent framework. The challenge for local economic development practitioners is to work in partnership with others to integrate these concepts into an approach that makes sense for their communities.

Keywords: Local economic development; innovation ecosystems; agglomeration economics; global value chains; Industry 4.0; economic resilience; circular economy; smart cities development (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:sae:loceco:v:38:y:2023:i:8:p:804-826

DOI: 10.1177/02690942241272573

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