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

Crescenzi, Riccardo, Luca, Davide and Milio, Simona (2016) The geography of the economic crisis in Europe: national macroeconomic conditions, regional structural factors and short-term economic performance. Cambridge Journal of Regions, Economy and Society, 9 (1). pp. 13-32. ISSN 1752-1378

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Abstract

This paper explores the linkages between pre-2008 crisis national macro-economic conditions, regional resistance factors and depth of the crisis in the regions of the EU27. The results suggest that only a limited set of macro-economic 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.

Item Type:	Article
Official URL:	http://cjres.oxfordjournals.org/
Additional Information:	© 2016 The Authors
Library of Congress subject classification:	H Social Sciences > HC Economic History and Conditions J Political Science > JN Political institutions (Europe)
Journal of Economic Literature Classification System:	E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations; Cycles O - Economic Development, Technological Change, and Growth > O5 - Economywide Country Studies > O52 - Europe P - Economic Systems > P4 - Other Economic Systems > P48 - Political Economy; Legal Institutions; Property Rights R - Urban, Rural, and Regional Economics > R1 - General Regional Economics > R11 - Regional Economic Activity: Growth, Development, and Changes
Sets:	Departments > Geography and Environment
Project and Funder Information:	Project ID Funder Name Funder ID ES/M008436/1 Economic and Social Research Council http://dx.doi.org/10.13039/501100000269
Date Deposited:	20 Oct 2015 15:38
URL:	http://eprints.lse.ac.uk/64061/

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