Research Paper

Revamping Local and Regional Development through Place-Based Strategies

September 29, 2016

Authors Andrés Rodríguez-Pose Callum Wilkie

Current Themes

Revamping Local and Regional Development through Place-Based Strategies -- title page

Download PDF

Overview

This paper explores the efficacy of place-based development strategies in fostering sustainable and inclusive economic growth. It highlights the importance of empowering local and regional governments to tailor development approaches to their specific contexts, leveraging local knowledge and resources. The study underscores the potential benefits of place-based strategies while also addressing the challenges and risks associated with their implementation.

Key Message

Place-based development strategies offer a promising approach to achieving sustainable and inclusive economic growth by empowering local governments to address unique local challenges and opportunities. To maximize the returns of these strategies, it is essential to build local capacities and promote effective multilevel governance, ensuring coordination between different levels of government and minimizing policy overlaps. By fostering local ownership and tailored interventions, place-based strategies can drive meaningful economic and social development, provided that they are implemented with careful consideration of local contexts and capacities