The challenge of Local Economic Development: lessons to be learned from Ecuador

Despite the fact that for over fifty years the global agenda has set development as one of its top priorities, the less developed regions seem to face a discouraging situation of extreme poverty, increasing inequality and lack of opportunities. The world today is one where globalization has become the cornerstone on which development stands in the 21 st century. Never before has the world seemed so small and reachable but yet so unequal. In this new global era where technological change is constantly challenging us, many of the less developed countries have come to realize that without a major transformation process they stand little chance in playing in the so-called global game.