ON ECONOMIC GROWTH AND DEVELOPMENT: A RE-READING TO TALK ABOUT LOCAL DEVELOPMENT

Abstract

The topic of economic growth and development is certainly not new. Our interest in the topic stems from our interest in micro-issues: microeconomics, micro and small businesses, etc. Another factor that sparks our interest is the fact that our country is continental in size, with regions possessing the most diverse characteristics, be they social, economic, cultural, or environmental. In this paper, we will discuss economic growth, which, according to the literature, can be understood, in short, as the increase in the economic capacity of a country or region. Regarding economic development, its measurement involves both quantitative and qualitative variables. In a very straightforward way, we can say that local development is a development concept that operationalizes local actors as protagonists in the development of strategies, decision-making, and implementation of actions. Considering that people's needs vary from place to place, we cannot consider a single, hegemonic model, or even a rigid, immutable methodology. The objective of this study is to understand the concepts of economic growth and development and, from there, to understand the concept of local development, its characteristics, operations, and perspectives. The methodology used in this research consisted of a descriptive approach, based on a literature review. Preliminary results indicate that local development originated in European countries, with its concepts gaining traction and being frequently discussed in Latin American countries.