This book introduces the reader to local development economics and policy, with a special focus on the place-based paradigm that covers its justification, its difficulties, and the types of public intervention that it suggests. The starting point for the analysis is that economic development in lagging places is not to be expected as the result of a mechanism of automatic convergence between backward and advanced regions and that, therefore, the most appropriate development policy is not to maximize competition among all agents in all sectors and places. The failure of the Washington...

This book introduces the reader to local development economics and policy, with a special focus on the place-based paradigm that covers its justification, its difficulties and the types of public intervention that it suggests.