Abstract
The article argues that the frequent use of the term "local development" in scientific literature provides an overly broad foundation for its interpretations. Furthermore, measuring the rates and directions of local development can be expressed through economic, social, demographic, and other indicators. Additionally, it can be described by qualitative parameters, incorporating both subjective and objective data. Therefore, defining the content of the concept, its territorial dimension, or measurement method is challenging. It is determined that the concept of local development should not be perceived solely as a subjectively constructed notion of a functioning development mechanism. On the contrary, it normatively represents assumptions regarding the desired model of local development, thus serving as a program according to which the characterized mechanism can be modified. Given the binary nature of the determinants of local development, influenced by external and internal factors, all theories describing it are classified into exogenous and endogenous. Similarly, an approach to interpreting the concept of local development as a unique combination of internal and external influences is formulated. In this context, components of the development process within the scope of local self-government competence include strategic and operational planning, coordination of efforts in implementing planned local development projects, direct financing or indirect financial support for local entrepreneurial initiatives, marketing of their activities, spatial planning, and more. Based on a comparative analysis of theoretical studies in the field of local development, the conclusion is drawn that, according to the postulates of local development, the processes of economic transformation in territorial communities should be directed towards diversifying their economic bases. This implies promoting the development of economic activities not directly tied to their natural resources. Shifting this focus will help alleviate the consequences of rising unemployment in peripheral regions and lay the groundwork for their long-term development.
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More From: Bulletin of Dnipropetrovsk Scientific Research Institute of Forensic Expertise of the Ministry of Justice of Ukraine. Economic Sciences
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