Mohammad A. J. The relationship of local development with economic development and its effects in Iraq

Abstract

Modern states seek to enhance their economic and living future by adopting comprehensive strategies for local development, which is considered one of the most effective tools for achieving sustainable growth Local economic development is defined as an organized process in which partners from various sectors—primarily the public and private sectors—participate with the aim of strengthening the economic capabilities of a specific geographic area. This contributes to the creation of job opportunities, improvement of income levels, and enhancement of citizens' quality of life. Local development plans are built on clear foundations based on an in-depth study of the economic and social realities of each governorate or region This includes identifying available resources and prioritizing key sectors, while establishing appropriate financing mechanisms such as local revenues (e.g., taxes), in addition to government support or investment partnerships Securing adequate funding sources is considered one of the key factors in ensuring the continuity and effectiveness of development projects. This highlights the crucial role that local economic development plays in building a balanced economy, one that is rooted in local communities as key actors, and that fosters the growth of various economic sectors—including agriculture, industry, and services. Such development ultimately contributes to social stability and the reduction of developmental gaps between regions.