Work

The geography of the economic crisis in Europe: national macroeconomic conditions, regional structural factors and short-term economic performance

Year: 2016

Type: article

Abstract: This article explores the linkages between pre-2008 crisis national macroeconomic conditions, regional resistance factors and depth of the crisis in the regions of the EU27. The results suggest that only a limited set of macroeconomic factors shape the regional reaction to the crisis. A healthy current account surplus is associated with stronger economic performance during the post-2008 recession. Conversely, high public debt countries are more successful in sheltering their regional economies in the short run. When looking at regional-level resistance, human capital is the single most important positive factor. Conversely, research and development-intensive regions are more exposed to negative shocks.

Source: Cambridge Journal of Regions Economy and Society

DOI: 10.1093/cjres/rsv031

Authors: Riccardo Crescenzi, Davide Luca, Simona Milio

Institutions: London School of Economics and Political Science, ICF International (United Kingdom)

Language: English

Topic: Regional resilience and development

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: hybrid

Estimated APC paid: $2,753