Journal
CAMBRIDGE JOURNAL OF REGIONS ECONOMY AND SOCIETY
Volume 9, Issue 1, Pages 13-32Publisher
OXFORD UNIV PRESS
DOI: 10.1093/cjres/rsv031
Keywords
economic crisis; crisis consequences; European Union; regional resistance; spatial heterogeneity; E32; O52; P48; R11
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Funding
- Economic and Social Research Council [ES/M008436/1]
- Emirates Foundation
- ESRC [ES/M008436/1] Funding Source: UKRI
- Economic and Social Research Council [ES/M008436/1] Funding Source: researchfish
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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.
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