Promoting local economic growth: the role of entrepreneurship and human capital

Abstract

A question that currently confronts economic policy practitioners is how to promote local economic growth in regions, cities and places, in a neo‐liberal political climate under conditions of intensifying global competition. This paper argues that we need to understand the workings of our local economies – the processes that shape, mould and drive place‐based communities of business owners, manager, workers, bureaucrats and families. Identifies, validates and prioritises the drivers of local economic growth recognised in a range of theories, using econometric modelling and fine‐grained empirical data. The intention is only to begin a discussion on what are appropriate policies to foster local growth in the face of globalisation.