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About: Waves of economic development     Goto   Sponge   NotDistinct   Permalink

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Economic development research has currently identified five phases, or "waves" of economic development practice. The differences between these waves are shaped by historical factors, the economic climate during historical periods, and leaders' response to these forces, which over time have created five strategies that differ from their predecessors. The five waves have all been designed to accomplish the same goal: to help entrepreneurs and businesses discover and expand markets for their services. Often these waves operate concurrently (thus, overlapping), or within a single economic development plan.