MEASUREMENT APPROACHES OF REGIONAL ECONOMIC RESILIENCE: A LITERATURE REVIEW

George J. XANTHOS

Hellenic Mediterranean University, Crete, Greece

xanthosg@hmu.gr‎

ORCID ID: 0009-0004-7250-3296

Evangelos N. DULUFAKIS

Hellenic Mediterranean University, Crete, Greece

ddk167@edu.hmu.gr

ORCID ID: 0009-0009-9258-5379

(corresponding)

Abstract

In this article, we review the different methodological approaches of measuring regional economic resilience conducting a literature review. Methodological approaches to measure resilience range from the use of descriptive, interpretative, or simple regression models to sophisticated statically econometric models.

Given these premises, the present research, provides insights of the regional and spatial economics in relation to resilience measurement and estimation methods and enriches the knowledge of the measurement methodological context and applications from diversified literature sources. Our research focuses on economically derived disturbances or shocks, such as recessions, and the resistance capacity or ability of a regional economy to respond to these shocks. The core results of this article are summed up in one main inference, that the methodological context for measuring regional economic resilience is undefined and basically empirically developed using either resilience indices or statistically based econometric models to assess the resilience of a region.

Keywords: regional economic resilience, conceptual approach, measurement context, economic disturbance, literature review

JEL classification: R11 Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

 pp. 47-59

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EFFECTS OF FISCAL CONSOLIDATION ON REGIONAL ECONOMICS RESILIENCE: INSTITUTIONAL DESIGN METTERS?

Christophe FEDER

Professor, University of Aosta Valley, Str. Cappuccini, 2, Aosta, Italy

c.feder1@univda.it

Vinko MUŠTRA

Assistant professor, Faculty of economics, business and tourism, University of Split, Cvite Fiskovića 5, Split, Croatia

vmustra@efst.hr

Abstract

After the Great Recession, in the European Union (EU) emerges an heterogenous level of both national fiscal consolidation and regional economics resilience. The paper uses the EUROSTAT database of EU-27 at NUTS 2 level over the period 2000-2009 to test how fiscal consolidation affects the regional economics resilience. We find that the fiscal consolidation and regional economic resilience are negatively correlated. Moreover, we show that the negative effect of taxation is higher than the positive effect of public spending.

Keywords: Regional economic resilience, Fiscal consolidation, Institutions, European Union

JEL classification: R12, E62, H23, H72
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