Development from within: an evaluative research on economic development strategies

Abstract

Research on the practice of adopting local economic development (LED) strategies is important to understand our local world as it is and what it might be made to be as a place for community. This article on economic development strategies (EDS) highlights the results from a survey of 82 small communities representing the Yukon Territory and ten provinces in Canada. The purpose was to evaluate the positive and additive effects of past local action and community initiatives so as to understand the variation in the adoption of local economic development strategies of Canada’s small towns and local municipalities. Using a questionnaire as instrument for data collection, the study employed hierarchical regression analysis and principal component analysis (PCA) as method for factor extraction and composite assessment on the effects of adopting EDS for community. The PCA solution was applied to evaluate the structure of correlation between the community characteristics as control variables in the baseline model for regression analysis and the past local action and community initiatives as independent variables. The results of the hierarchical regression analysis showed that local initiatives have significant and additive effects on the adoption of EDS by small communities. The study findings offer some insights into some perspectives of ‘development from within’ to mean the local economic development practice in Canadian communities.