TITLE:
“Cultivating” Local Resources or “Hunting” Mobile Resources? Analysis of Endogenous and Exogenous Approaches for Local Economic Development
AUTHORS:
Lingjia Zhong
KEYWORDS:
Indigenous Approach, Exogenous Approach, Local Development
JOURNAL NAME:
Current Urban Studies,
Vol.10 No.1,
March
30,
2022
ABSTRACT: In a rapidly changing global economy, approaches
that rely solely on “nurturing” local resources or “hunting” mobile resources to promote
local development are
limited and narrowly focused. This article first analyzed the advantages
and disadvantages of indigenous and exogenous approaches for local economic
development. This article also used an example of Hangzhou’s “Future Sci-Tech City” to demonstrate a balance of
both integrated indigenous and exogenous approaches. These findings suggested
that a balance of both, an integrated approach would be beneficial to
the local economic growth. However, as economic development varies from region
to region, local governments have to consider their development context to
determine the best way to achieve local economic growth.