Economic resiliency and recovery, lessons from the financial crisis for the COVID-19 pandemic: a regional perspective from Central and Eastern Europe
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985998%3A_____%2F21%3A00542074" target="_blank" >RIV/67985998:_____/21:00542074 - isvavai.cz</a>
Result on the web
<a href="https://doi.org/10.1016/j.irfa.2021.101658" target="_blank" >https://doi.org/10.1016/j.irfa.2021.101658</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.irfa.2021.101658" target="_blank" >10.1016/j.irfa.2021.101658</a>
Alternative languages
Result language
angličtina
Original language name
Economic resiliency and recovery, lessons from the financial crisis for the COVID-19 pandemic: a regional perspective from Central and Eastern Europe
Original language description
In this paper we examine resiliency, the ability to absorb and recover from economic shocks, in 199 Nuts-3 regions in Central and Eastern Europe (CEE) following the 2008 global financial crisis. We find evidence of strong positive regional spillovers, meaning that regions tend to form clusters of high-performing and lowperforming areas, a process that exacerbates regional income disparities. Using the experience of the recovery from the 2008 financial crisis, we simulate the effects of the COVID-19 pandemic on the ability of these, and, by extension, other upper-middle-income countries to recover from a shock to employment caused by the incidence of COVID-19. Using our recoverability equation estimates, we find that employment in no more than 31 of the 199 regions will have fully recovered in 2 years after the onset of the recovery from the crisis. Policy implications of the findings are discussed.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50202 - Applied Economics, Econometrics
Result continuities
Project
<a href="/en/project/GA18-04630S" target="_blank" >GA18-04630S: The Economic Impact of Investment Disputes</a><br>
Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2021
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
International Review of Financial Analysis
ISSN
1057-5219
e-ISSN
1873-8079
Volume of the periodical
74
Issue of the periodical within the volume
March
Country of publishing house
NL - THE KINGDOM OF THE NETHERLANDS
Number of pages
12
Pages from-to
101658
UT code for WoS article
000663442700004
EID of the result in the Scopus database
2-s2.0-85100425411