Request pdf perspectives on the development of local economies the growing mobility of production and production factors could have contributed to a polarization reversal however it appears . Local economic development is concerned with the well being of a place a locality distinct from economic development more generally local economic development focuses on particular contexts which vary across space. Local economic development led recent economic crises have revealed and often widened inequalities within countries with the weakening of traditional sources and patterns of work and the expansion of the informal economy bottom up interventions responding to local needs emerge as key strategies to create decent jobs where they are most needed. Local economic development is composite and complex area that in addition to economic development policy including agriculture also incorporates other divisional structural and social policies local infrastructural development policy as an indispensible ambience for local economic development as well as all sorts of civic initiatives contributing to local communities improvement
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