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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

  • Czech description

Classification

  • Type

    J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database

  • CEP classification

  • 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