Local and national policies refer to the rules, regulations, laws, and strategies implemented by governments at different levels (local or national) to shape economic activities within a country. These policies can include fiscal measures (taxes), monetary measures (interest rates), trade policies, investment incentives, etc.
Related terms
Economic Planning: The process by which governments set specific goals for economic development and create strategies or plans to achieve those goals.
Market-oriented Policies: Policies that emphasize free-market principles such as competition, deregulation, privatization, and minimal government intervention in the economy.
Protectionism: The use of trade barriers (tariffs, quotas) to protect domestic industries from foreign competition and promote local economic development.