Economic resiliency and recovery, lessons from the financial crisis for the COVID-19 pandemic: a regional perspective from Central and Eastern Europe

Kód výsledku v 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>

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

Economic resiliency and recovery, lessons from the financial crisis for the COVID-19 pandemic: a regional perspective from Central and Eastern Europe

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

Economic resiliency and recovery, lessons from the financial crisis for the COVID-19 pandemic: a regional perspective from Central and Eastern Europe

Popis výsledku anglicky

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.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

<a href="/cs/project/GA18-04630S" target="_blank" >GA18-04630S: Ekonomický dopad investičních sporů</a><br>

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2021

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

International Review of Financial Analysis

ISSN

1057-5219

e-ISSN

1873-8079

Svazek periodika

74

Číslo periodika v rámci svazku

March

Stát vydavatele periodika

NL - Nizozemsko

Počet stran výsledku

12

Strana od-do

101658

Kód UT WoS článku

000663442700004

EID výsledku v databázi Scopus

2-s2.0-85100425411