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The Concept, Evolution, Impacts and Critical Success Factors of Regional Economic Corridors

Aggarwal, Aradhna (2020): The Concept, Evolution, Impacts and Critical Success Factors of Regional Economic Corridors.

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Abstract

With globalisation gathering momentum in the early 2000s, economic corridors gained tremendous traction as a policy tool of economic and social development in the developing countries. A variety of new corridors have sprung up ranging in geographic scope- from local to national to cross border regional to mega transnational corridors forming land bridges for countries across different regions. This paper reviews the current knowledge on economic corridors. The focus is on regional economic corridors. It concludes that a deep understanding of economic corridors as a development tool, finding common grounds, and building mutual trust between stakeholders both within and across borders are critical for the success of regional economic corridors.

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