Previous chapters have demonstrated that there is a wide array of practices within the field of regional and local economic development. For much of the twentieth century regional development was mainly about provision of advanced factories for manufacturing companies, and the idea of local economic development scarcely existed. Today the scope, and also the diversity of actions is much greater. Chapter 1 proposed a typology to put some order on what otherwise could be a bewildering and arbitrary list of different things done in different places. The typology was structured around two simple questions. These concerned the degree of priority given to market efficiency as against social or environmental priorities, and secondly, the question of whether market processes were seen as delivering the kind of development that is wanted. From these combinations four approaches to regional and local economic development were hypothesized: pro-business competition to attract inward investment; sector targeting and area regeneration; eco-modernization, and finally, pro-poor local economic development.
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