Partnership of Stakeholders at the Local Level as an Effective Instrument of Local Development

Europe and the whole world are facing new challenges. The paradigm of the economic order established so far is changing before our very eyes. New players, mainly from Asia, have appeared in the global economy. It seems that the model of economic development that separates the public and private sectors, giving the public sector mainly a planning and controlling role in relation to the private sector, becomes less effective. The aim of the article is to show the change in the paradigm of public sector management, starting from the implementation of new public management. Next, based on selected examples, according to the authors, of successful changes in the cooperation of representatives of the public sector at the level of municipalities with residents and the private sector, models of such cooperation were proposed in general terms. Such models can be the basis for stimulating the economic development of local economies, which in the face of the crisis caused by the pandemic and the war between Russia and Ukraine, can be a significant stimulus to reduce the negative effects of this crisis.