The globalized economy depends on local and context-specific factors. This edited volume addresses local-global nexuses via case studies of global interactions in developed and developing areas, and of particular firms' approaches to these issues. The chapters build up a prospectus on how best to create globally capable localities.

Shows how to turn globalization into opportunity--to grow new businesses, create new jobs, revitalize regions, and develop international cities of the future.

"An analysis of what influences and shapes local competitiveness and what places can do to enhance their economic performance"--

This article examines the sustainability of the subnational business environment index (BEIs) as a development tool for subnational promotion of private sector growth and competitiveness. We define sustainability as the BEI's continued application after its external support has been concluded. The 13 BEIs examined here have been largely financed by international aid agencies over the past decade. We compare the main features of all the current or recent subnational BEIs we could locate, covering countries in Asia, Eastern Europe, and Latin America. We discuss their origins, financing, conceptual approaches, methodological parameters, intergovernmental linkages, and longevity. A few of them have been applied repeatedly as intended by index proponents, but nearly half of the indices have been discontinued. Two are eminently sustainable and another appears to be. The apparently successful index in El Salvador is highlighted. We conclude that indices face serious limitations, including politicization, weak business sector interest, lack of local funding, and need for an impartial sponsor. Yet indices do show some promise for reform where the index is well developed and where conditions that appear favorable to their successful utilization apply—that is, in countries with a strong private sector, governmental interest, and an open economy.

In recent years, the contemporary social sciences have again turned their attention to space and places. The hypothesis is that these are not accidental episodes but a full-blown revolution in the way of viewing economic processes and their links with social and cultural structures. In other words, this new sensitivity to places offers the possibility of rethinking issues typical of economics in a different perspective that might be defined as local development, one of the terms most (ab)used in the contemporary scientific and political debate. In this book the authors will thus try to support more strongly, although in a necessarily simplified manner, the possibility of constructing a theory of local development. The key idea is that there is no single development model operating at a given time and valid for all places, but that it is more correct to talk of multiple development paths that co-exist in the same place at the same time (multiplicity of development paths). The central point is not to identify the succession of distinct hegemonic models (Fordism versus post-Fordism, mass production versus lean production and so on), but to show how the complexity of the contemporary economy demands new concepts to explain its apparent contradictions. In the authors' view, the conception of a theory of local development implies radical rethinking in institutionalist terms of the way of viewing the economy and production, recognising that behind economic development lies a wealth of institutional assets that make the encounter between local and global more open and varied than ever before (institutional biodiversity).

Economic challenges in developing Asian countries have become more complex: urban populations are growing at great cost to the environment, climate change has increased risks of natural disasters, and income gaps within and between developing countries are widening. These factors threaten the sustainable growth and development of urban areas, the drivers of Asia's economy. A strategic approach for inclusive growth is needed. The City Cluster Economic Development approach provides a strategic framework and a set of analytical tools, which governments, businesses, and communities can use to support the inclusive and sustainable development of competitive urban economies in Asia. Said approach was developed and tested by the Asian Development Bank to improve the basis for integrated planning and development of urban regions in Asia and the Pacific. It also elps urban managers and other city stakeholders identify action plans and determine priority investment areas.