A best practice analysis of the relationship between local economic development (LED) and globalization in developing countries

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

Regional economies are influenced and affected by globalization and this impact could be positive or negative. This debate regarding the impact of globalization on local regions was analysed in the study. The study objectives include an analysis of local versus global aspects and to provide best practice principles for local economic development (LED) with linkages to the global economy. The methodology included a comprehensive document analysis process based on a literature review of the research by some of the most prominent authors on LED and best practice principles. The main result of the document analysis process was the identification of ten broad themes or best practice principles for policy formulation. The themes were also ranked based on the number of times keywords appeared in the document analysis process. The highest ranked theme/best practice principle was “Decentralised strategic planning and institutional development”, followed by “Improvement of local regional attractiveness”. All ten broad themes are however important development themes and should be included in development strategies. The implications of the study are that if the broad best practice principles are included in development policy and well implemented, local regions could achieve increased development within a competitive global economic environment.

Original languageEnglish
Title of host publicationProceedings of the 31st International Business Information Management Association Conference, IBIMA 2018
Subtitle of host publicationInnovation Management and Education Excellence through Vision 2020
EditorsKhalid S. Soliman
PublisherInternational Business Information Management Association, IBIMA
Pages3992-4001
Number of pages10
ISBN (Electronic)9780999855102
Publication statusPublished - 2018
Externally publishedYes
Event31st International Business Information Management Association Conference: Innovation Management and Education Excellence through Vision 2020, IBIMA 2018 - Milan, Italy
Duration: 25 Apr 201826 Apr 2018

Publication series

NameProceedings of the 31st International Business Information Management Association Conference, IBIMA 2018: Innovation Management and Education Excellence through Vision 2020

Conference

Conference31st International Business Information Management Association Conference: Innovation Management and Education Excellence through Vision 2020, IBIMA 2018
Country/TerritoryItaly
CityMilan
Period25/04/1826/04/18

Keywords

  • Best practice principles
  • Document analysis
  • Globalization
  • Local economic development

ASJC Scopus subject areas

  • Information Systems and Management
  • Management Information Systems

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