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Local Innovations for Growth in Central and Eastern Europe

image of Local Innovations for Growth in Central and Eastern Europe

Local development strategies represent an important response to the challenges of globalisation, while providing a mechanism for seizing the new opportunities that globalisation offers. Nearly two decades after the fall of the Berlin wall, this book evaluates progress made and identifies what needs to be done to speed up the drive towards prosperity in Central and Eastern Europe. It demonstrates that the success of local development strategies depends on the capacity of the government and its partners to accelerate change within the policy and governance aspects of economic and social development.

English

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Community Development Banking to Foster Entrepreneurship

A Comparison between Experiments in Hungary and Poland

Non-government assistance programmes to finance entrepreneurship are particularly suited to the situation of transition economies, as they support the development of efficient markets and the building of social capital. A publicly sponsored network of development banking institutions would promote small business development, assist in the development of entrepreneurial skills, and provide special assistance to disadvantaged areas. It would help by making small business finance more accessible and connected with the provision of necessary advice and assistance. The institutions would be publicly capitalised, but run locally by non-profit organisations in collaboration with local governments and the private sector. Direct involvement of banks is required to supervise performance. While community development banking cannot solve all the problems of initial entrepreneurial finance, it can help to narrow the gap and tackle market failures.

English

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