Local and Regional Development - Second Edition

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Actors and institutions in various localities and regions are striving for prosperity and well-being amid significant global shifts caused by factors such as globalized, knowledge-intensive capitalism, financial instability, and concerns about sustainability and climate change. The evolving landscape includes new governance systems, state austerity, and innovative approaches to local and regional development. This work offers a critical and integrated examination of local and regional development theory, institutions, and policies in this context. It addresses essential questions regarding the nature and purpose of local and regional development, exploring its principles, values, and frameworks. The analysis is informed by contemporary theory and grounded in empirical evidence from both the global North and South. Ultimately, it seeks to define what constitutes holistic, inclusive, progressive, and sustainable local and regional development while reflecting on its limitations and the need for political renewal. The book aims to provide a comprehensive understanding of the challenges and opportunities in local and regional development, emphasizing the importance of inclusive strategies that consider diverse perspectives and contexts.