LED ac­cel­er­ates eco­nomic growth: AUC study

Sev­eral perquisites ex­ist for suc­cess of any LED pro­mo­tion process, es­pe­cially in de­vel­op­ing economies

The Daily News Egypt - - Business -

Local eco­nomic de­vel­op­ment (LED) con­tin­ues to emerge as an im­por­tant and a vi­able tool for achiev­ing eco­nomic growth, cre­at­ing new jobs, in­creas­ing in­come lev­els, and im­prov­ing the qual­ity of life in dif­fer­ent local com­mu­ni­ties in both in­dus­tri­alised and de­vel­op­ing coun­tries.This emerged from a re­search en­ti­tled Pro­mot­ing Local Eco­nomic De­vel­op­ment in Egypt:Chal­lenges and Lessons Learned from the Case of Fay­oum Gov­er­norate which was is­sued by the Depart­ment of Pub­lic Pol­icy and Ad­min­is­tra­tion at the Amer­i­can Uni­ver­sity in Cairo (AUC) IN 2017.

As the re­search showed, there are huge eco­nomic po­ten­tials which ex­ist at the dif­fer­ent local lev­els in Egypt. LED rep­re­sents a very sound and ef­fec­tive mech­a­nism which can help local ad­min­is­tra­tions in Egypt re­alise these po­ten­tials. Once these po­ten­tials and val­ues are prop­erly con­sid­ered, a wave of eco­nomic growth could be gen­er­ated, which can even­tu­ally lead to a higher level of pros­per­ity and an im­proved qual­ity of life for local cit­i­zens.

Based on dif­fer­ent coun­tries’ ex­pe­ri­ences and upon close ex­am­i­na­tion of the LED pro­mo­tion ex­pe­ri­ence,which took place in Fay­oum be­tween 2011 and 2014,it is rather ob­vi­ous that there are sev­eral perquisites for the suc­cess of any LED pro­mo­tion process, es­pe­cially in de­vel­op­ing economies. The ab­sence of one or more of these perquisites can be very chal­leng­ing for local ad­min­is­tra­tions, and can ob­struct their abil­i­ties and en­deav­ours to­ward achiev­ing eco­nomic de­vel­op­ment in their local com­mu­ni­ties.

The most im­por­tant of these perquisites and pre­de­ter­min­ing fac­tors, ac­cord­ing to the re­search, is the need for local ad­min­is­tra­tions to have au­thor­ity and au­ton­omy in plan­ning for their local economies, as well as be­ing able to man­age their own local as­sets in or­der to gen­er­ate and man­age local rev­enues. More­over, a strong po­lit­i­cal will and an of­fi­cial com­mit­ment to the process is cru­cial to its suc­cess, in ad­di­tion to the need to build the ca­pac­ity of local ad­min­is­tra­tive sys­tems,and the im­por­tance of hav­ing com­pe­tent and skilled local cal­i­bres, as they have proven to be very es­sen­tial for the ef­fec­tive im­ple­men­ta­tion of the LED ini­tia­tives.

Un­less the cen­tral gov­ern­ment, along with the ef­forts of local ad­min­is­tra­tive sys­tems, man­age to over­come and/or elim­i­nate these chal­lenges, a dif­fer­ent and a more con­text-ap­pro­pri­ate ap­proach from the ones pro­posed by in­ter­na­tional donor or­gan­i­sa­tions has to be lo­cally adopted in or­der to cap­i­talise on the ex­ist­ing lim­ited re­sources,in the most ef­fec­tive and ef­fi­cient ways pos­si­ble. Through a process of grad­ual learn­ing and ac­cu­mu­la­tive ex­pe­ri­ence, those local com­mu­ni­ties can move to­ward a more com­pre­hen­sive and strate­gic ap­proach to pro­mote LED.

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