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This symposium examines issues related to local economic development financing. The symposium introduction paper consists of two sections: (1) a review of the literature related to local economic development in general and to the financing economic development in particular; and (2) a summary of major findings from the four symposium papers addressing such issues as rural bank loans, the tax increment financing program, professionalism in economic development, and regional development through tax sharing.

This symposium examines issues related to local economic development financing. The symposium introduction paper consists of two sections: (1) a review of the literature related to local economic development in general and to the financing economic development in particular; and (2) a summary of major findings from the four symposium papers addressing such issues as rural bank loans, the tax increment financing program, professionalism in economic development, and regional development through tax sharing.

Towns and cities across Canada face rapidly changing economic circumstances and many are turning to a variety of strategies, including tourism, to provide stability in their communities. Community Economic Development (CED) has become an accepted form of economic development, with recognition that such planning benefits from a more holistic approach and community participation. However, much of why particular strategies are chosen, what process the community undertakes to implement those choices and how success is measured is not fully understood. Furthermore, CED lacks a developed theoretical basis from which to examine these questions. By investigating communities that have chosen to develop their tourism potential through the use of murals, these various themes can be explored. There are three purposes to this research: (1) to acquire an understanding of the “how” and the “why” behind the adoption and diffusion of mural-based tourism as a CED strategy in rural communities; (2) to contribute to the emerging theory of CED by linking together theories of rural geography, rural change and sustainability, and rural tourism; and (3) to contribute to the development of a framework for evaluating the potential and success of tourism development within a CED process.

Two levels of data collection and analysis were employed in this research. Initially, a survey of Canadian provincial tourism guides was conducted to determine the number of communities in Canada that market themselves as having a mural-based tourism attraction (N=32). A survey was sent to these communities, resulting in 31 responses suitable for descriptive statistical analysis, using Statistical Package for the Social Sciences (SPSS). A case study analysis of the 6 Saskatchewan communities was conducted through in-depth, in person interviews with 40 participants. These interviews were subsequently analyzed utilizing a combined Grounded Theory (GT) and Content Analysis approach.

The surveys indicated that mural development spread within a relatively short time period across Canada from Chemainus, British Columbia. Although tourism is often the reason behind mural development, increasing community spirit and beautification were also cited. This research demonstrates that the reasons this choice is made and the successful outcome of that choice is often dependent upon factors related to community size, proximity to larger populations and the economic (re)stability of existing industry. Analysis also determined that theories of institutional thickness, governance, embeddedness and conceptualizations of leadership provide a body of literature that offers an opportunity to theorize the process and outcomes of CED in rural places while at the same time aiding our understanding of the relationship between tourism and its possible contribution to rural sustainability within a Canadian context. Finally, this research revealed that both the CED process undertaken and the measurement of success are dependent upon the desired outcomes of mural development. Furthermore, particular attributes of rural places play a critical role in how CED is understood, defined and carried out, and how successes, both tangible and intangible, are measured.

This paper examines the relationship between and the effects of resource allocation and levels of professionalism on local economic development policies and strategies. In short, it asks a basic question; do cities get what they pay for in terms of economic development? A value judgment is, of course, inherent in this question; "what you pay for" serves as a euphemism for "good" economic development programs and policies. That is, if a local government devotes more budget and staff resources toward economic development, is the city more likely to implement effective economic development policies? Thus, this research examines the relationship between the resources and the professionalism of the local economic development agency, and the corresponding economic development goals and techniques employed in those communities.

The purpose of this paper is to analyze the potential of remote areas in Indonesia and find out the important variables that influence key success factors of Local Economic Regional Development (LERD) program in several areas.

A series of structured interviews were conducted with the chairman and staff of local government, academician, private sectors and locals who are induced to work together to improve quality of life, create new opportunities and fight poverty in Bau-Bau, Singkawang and Kupang. Subsequently, the results from the structured interviews were analyzed using qualitative analysis to arrive at the model of LERD in Indonesia.

The findings show that variables that influence the key success factors of LERD in this research are resources endowment, social capital and local support as independent variables; entrepreneurial strategy as moderating variable; and perceived performance as dependent variable.

This study was conducted only in Indonesia which focused on local economic regional development in Indonesia. Despite this limitation, the findings of this study enable the construction of a general model that highlights LERD in chosen areas. The model is also expected to give an idea of how to develop economic region.

The paper adds to the literature on LERD by enabling researchers and practitioners to understand the model of LERD in Indonesia.

There are numerous reasons that may explain why the U.S. economy has performed well during the past twenty‐five years. One likely reason is that local economic development practices have enhanced American competitiveness. The first section develops a game theoretic model that show how local economic practices can result in either negative or positive sum outcomes for the nation as a whole. The second section describes how local economic development practices towards practices that are likely to result in better aggregate economic performance. The strong performance of the U.S. economy roughly coincides with the more efficient practices. The final section examines further practices that may make local economic stimulus more efficient.

Entrepreneurship is argued to be a critical driver of economic growth for both individual communities and the nation. Regional scientists, economists, and policy makers underscore the importance of a diverse economy that supports recruitment of new firms, existing firms, and entrepreneurship efforts. However, there remains evidence that many states and localities prefer traditional industrial recruitment efforts and that local and state entrepreneurial efforts may be less coordinated. The paper aims to discuss these issues.

This research explores the commitment and priorities of local and regional developers to entrepreneurial policy and other economic development policy efforts. This study uses a statewide survey to local economic developers and logistic regression to determine the likelihood of local entrepreneurial program efforts across South Carolina.

The model results reveal that the probability of local or regional entrepreneurial development programming is complex and dependent on the type of organization involved in economic development along with other community and state characteristics. However, results further confirm that barriers to entrepreneurship, like access to seed capital, and the influence of perceived alternative policies affect local and regional support of entrepreneurship.

The policy priorities of local economic developers appear to play a significant role in the probability of having local entrepreneurship policy and programs. This confirms that the signals local policymakers receive from the state may impact the programming choices and policy emphasis at the local and regional level. In conclusion, if states want entrepreneurial efforts to be a critical driver of economic growth and development, there must be a coordinated and focused state driver supporting these efforts.

This paper aims to determine the extent to which the strategy of Noken-Papuan products, known as intangible culture recognized by the United Nations Educational, Scientific and Cultural Organization (UNESCO), can increase local economic empowerment. The main strategy is to strengthen the regulation of the use of Noken in every activity of daily life while promoting it, this has not been explained much from previous research.

The study used the method of strengths, weaknesses, opportunities, and threats– analytic hierarchy process (SWOT-AHP) with analysing several pairs of instruments’ predetermined group and finally decision-making strategy recommendations. Data distribution to five districts of Jayapura using simple random sampling based on consideration type product and industrial areas with a number of elements in each sub-population are different.

The development of local products with cultural values is one of the important points included in the regional development strategy model.

The traditional handmade products that have a high cultural philosophical value can be beneficial to the local community empowerment.

Ethnotechnology can be well-developed and implemented if policy actors identify the values of external and internal factors to be formulated in enhancing local economic development. This work is a simple attempt to collect research findings separately on Noken product development as a conceptual basis for comparative analysis.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.