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Weak ties and adaptive resilience of regional economy: evidence from networks in the South Korean automobile industry

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  • Mikyoung Cho

    (University of Seoul)

  • Myounggu Kang

    (University of Seoul)

Abstract

Regional economic resilience is the ability of the regional economy to hold out when there is an economic shock. Interconnectedness between actors in a regional economy is a crucial factor in regional economic resilience, especially for the adaptive resilience. However, extant studies have analyzed the overall regional resilience competencies in terms of advanced technology, productivity input factors (human and physical capital), and agglomeration economies. This study aims to operationalize the concept of the regional economy’s network characteristics and empirically analyze the relationship between network characteristics and the resilience of regional economy. We posited the hypotheses on the relationship between the network characteristics of regional industrial ecosystems and resilience. We use the automobile parts yearbook of the South Korea Automobile Association from 1997 to 2019. We built automobile industry transaction data by digitalizing the paper-based records. It operationalized the concept of weak tie using modularity and skewness. As a result, an economic ecosystem with weak ties showed better performance in economic resilience. This study argues that the regional industrial ecosystem is an important, but neglected, factor for the sustainable development of the regional economy.

Suggested Citation

  • Mikyoung Cho & Myounggu Kang, 2024. "Weak ties and adaptive resilience of regional economy: evidence from networks in the South Korean automobile industry," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 72(3), pages 735-755, March.
    • Handle: RePEc:spr:anresc:v:72:y:2024:i:3:d:10.1007_s00168-023-01218-1
    DOI: 10.1007/s00168-023-01218-1
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    More about this item

    Keywords

    R12; R30; P25; L14;
    All these keywords.

    JEL classification:

    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General
    • P25 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Urban, Rural, and Regional Economics
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation

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