IDEAS home Printed from https://ideas.repec.org/a/epw/develo/v3y2023i2id15246.html

The Great Power Politic-Capital-Social Information Synergy towards Successful Local Economic Development

Author

Listed:
  • Sarjiyanto

Abstract

The development concept with Local Economic Development (LED) approach applied by developing countries is considered as a new resolution to reduce poverty, unemployment, and economic gaps while improving the quality of life amid globalization and world hegemony. LED is a socio-economic field of study with a relatively new policy formulation that the planning and implementation process is still developing with various alternative theories and approaches. Hence, this paper provides a conceptual and analytical framework for understanding the great power of 4.0 (Politic-Capital-Social-Information) in LEDs synergy in an applicable and comprehensive manner. This paper analyzes the theory and approach of LED with a focus on conceptualizing the synergy of the great power of 4.0 (Politic-Capital-Social-Information) coming from the governments, communities, businesses, and media that affect LED implementation success in the context of developing countries. LED conceptualization is essential in facilitating researchers, practitioners, and policymakers to elaborate political power, capital power, social power, and information influence in implementing LED programs in developing countries. Unlocking the potential of LEDs by synergizing the power of 4.0 (Politic-Capital-Social-Information) is expected to reduce socio-economic gaps and realize equal development for all people, given the condition that the LED strategy has been formulated and implemented effectively.

Suggested Citation

  • Sarjiyanto, 2023. "The Great Power Politic-Capital-Social Information Synergy towards Successful Local Economic Development," European Journal of Development Studies, European Open Science, vol. 3(2), pages 84-94, March.
    • Handle: RePEc:epw:develo:v:3:y:2023:i:2:id:15246
    DOI: 10.24018/ejdevelop.2023.3.2.246
    as

    Download full text from publisher

    File URL: https://eu-opensci.org/index.php/ejdevelop/article/view/15246
    File Function: Abstract page
    Download Restriction: no
    File URL: https://eu-opensci.org/index.php/ejdevelop/article/download/15246/3439
    File Function: Full text
    Download Restriction: no
    File URL: https://libkey.io/10.24018/ejdevelop.2023.3.2.246?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Warner, Mildred, 2001. "Building social capital:: The role of local government," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 30(2), pages 187-192, March.
    2. Sen, Amartya, 2001. "Development as Freedom," OUP Catalogue, Oxford University Press, number 9780192893307.
    3. Timothy J. Bartik, 2003. "Local Economic Development Policies," Upjohn Working Papers 03-91, W.E. Upjohn Institute for Employment Research.
    4. repec:wbk:wbpubs:15023 is not listed on IDEAS
    5. Christian Rogerson, 2000. "Local Economic Development in an Era of Globalisation: The Case of South African Cities," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 91(4), pages 397-411, November.
    6. Robert Stimson & Roger R. Stough & Maria Salazar, 2009. "Leadership and Institutions in Regional Endogenous Development," Books, Edward Elgar Publishing, number 13246.
    7. Christian Rogerson, 2010. "Local economic development in South Africa: Strategic challenges," Development Southern Africa, Taylor & Francis Journals, vol. 27(4), pages 481-495.
    8. Roger R. Stough, 2003. "Strategic management of places and policy," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 37(2), pages 179-201, May.
    9. Abraham Carmeli, 2007. "The Effect of Fiscal Conditions of Local Government Authorities on Their Economic Development," Economic Development Quarterly, , vol. 21(1), pages 91-98, February.
    10. Mark Granovetter, 2005. "The Impact of Social Structure on Economic Outcomes," Journal of Economic Perspectives, American Economic Association, vol. 19(1), pages 33-50, Winter.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Rogerson Christian M., 2014. "Reframing place-based economic development in South Africa: the example of local economic development," Bulletin of Geography. Socio-economic Series, Sciendo, vol. 24(24), pages 1-16, June.
    2. Jesús María Valdaliso, 2015. "Pertenencia a clústeres y comportamiento competitivo de las empresas: un estudio de seis asociaciones-clúster en el País Vasco," Working Papers 2015R02, Orkestra - Basque Institute of Competitiveness.
    3. Albers, Hans-Hermann & Suwala, Lech, 2020. "Räumliches Unternehmensengagement (Corporate Spatial Responsibility) und Ortsführung (Place Leadership) in Kleinstädten. Perspektiven für eine neue Ortsführung? Eine Zusammenführung von zwei Diskursen," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 63-84.
    4. James R. Wilson & Mari Jose Aranguren & Mikel Navarro, 2015. "From Plan to Process: Exploring the Leadership Implications of RIS3," Working Papers 2015R01, Orkestra - Basque Institute of Competitiveness.
    5. Sofia Wixe & Pia Nilsson & Lucia Naldi & Hans Westlund, 2023. "Correction to: The role of collaboration and external knowledge for innovation in small food firms," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 70(1), pages 157-157, February.
    6. Ishrat Ali & Griffin W. Cottle, 2021. "Reconceptualizing Entrepreneurial Performance: The Creation and Destruction of Value from a Stakeholder Capabilities Perspective," Journal of Business Ethics, Springer, vol. 170(4), pages 781-796, May.
    7. Imre Lengyel, 2011. "Types of competitiveness of Hungarian regions: agglomeration economies and endogenous regional development," ERSA conference papers ersa11p674, European Regional Science Association.
    8. Brown, Philip & Roper, Simon, 2017. "Innovation and networks in New Zealand farming," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 61(3), July.
    9. Matias Busso & Patrick Kline, 2008. "Do Local Economic Development Programs Work? Evidence from the Federal Empowerment Zone Program," Cowles Foundation Discussion Papers 1639, Cowles Foundation for Research in Economics, Yale University.
    10. Kong, Dongmin & Pan, Yue & Tian, Gary Gang & Zhang, Pengdong, 2020. "CEOs' hometown connections and access to trade credit: Evidence from China," Journal of Corporate Finance, Elsevier, vol. 62(C).
    11. Kitae Yoo, 2023. "The Poisson Method of Poverty Measurement Using Non-monetary Indicators: A Replication Study Based on Australian Data," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 166(1), pages 219-238, February.
    12. Tendai Zawaira & Matthew W. Clance & Carolyn Chisadza, 2020. "Social Institutions and Gender-Biased Outcomes in sub-Saharan Africa," Working Papers 2020101, University of Pretoria, Department of Economics.
    13. Dunning, Thad & Bicalho, Clara & Chowdhury, Anirvan & Grossman, Guy & Humphreys, Macartan & Hyde, Susan D. & McIntosh, Craig & Nellis, Gareth, 2019. "Meta-Analysis," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 315-374.
    14. Brady, David, 2023. "Poverty, not the poor," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 9(34), pages 1-17.
    15. Domènec Melé, 2009. "The Practice of Networking: An Ethical Approach," Journal of Business Ethics, Springer, vol. 90(4), pages 487-503, December.
    16. Franzini, Maurizio & Raitano, Michele, 2019. "Earnings inequality and workers’ skills in Italy," Structural Change and Economic Dynamics, Elsevier, vol. 51(C), pages 215-224.
    17. Michael J. Hicks, 2006. "Transportation and infrastructure, retail clustering, and local public finance: evidence from Wal-Mart's expansion," Regional Economic Development, Federal Reserve Bank of St. Louis, issue Oct, pages 100-114.
    18. Chen Yu, 2020. "Targeted industrial poverty alleviation in China’s Rural Areas: Evidence From Yulin Township," Journal of Advances in Humanities and Social Sciences, Dr. Yi-Hsing Hsieh, vol. 6(2), pages 78-88.
    19. Irit Keynan, 2016. "Is neoliberalism consistent with individual liberty? Friedman, Hayek and Rand on education employment and equality," International Journal of Teaching and Education, International Institute of Social and Economic Sciences, vol. 4(4), pages 30-47, December.
    20. Katarzyna Growiec & Jakub Growiec & Bogumił Kamiński, 2017. "Social Network Structure and The Trade-Off Between Social Utility and Economic Performance," KAE Working Papers 2017-026, Warsaw School of Economics, Collegium of Economic Analysis.

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:epw:develo:v:3:y:2023:i:2:id:15246. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Support Team (email available below). General contact details of provider: https://eu-opensci.org/index.php/ejdevelop .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.