IDEAS home Printed from https://ideas.repec.org/a/cup/nierev/v253y2020ipr18-r28_6.html
   My bibliography  Save this article

Understanding Regional Economic Performance And Resilience In The Uk: Trends Since The Global Financial Crisis

Author

Listed:
  • Sensier, Marianne
  • Devine, Fiona

Abstract

We investigate economic resilience of UK regions before, during and after the 2007/8 global financial crisis. We date business cycle turning points in real output, employment and productivity to assess the resilience dimensions of resistance, recovery and renewal and rank the economic resilience of regions in a resilience scorecard. Our empirical results reveal that the business cycle in productivity has not returned to its pre-recession peak level for Yorkshire and the Humber and the employment level has not recovered in Scotland. The resilience scorecard ranks the South East as the most resilient region with Northern Ireland the least resilient.

Suggested Citation

  • Sensier, Marianne & Devine, Fiona, 2020. "Understanding Regional Economic Performance And Resilience In The Uk: Trends Since The Global Financial Crisis," National Institute Economic Review, National Institute of Economic and Social Research, vol. 253, pages 18-28, August.
  • Handle: RePEc:cup:nierev:v:253:y:2020:i::p:r18-r28_6
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S0027950120000277/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Stuart Dawley & Neill Marshall & Andy Pike & Jane Pollard & John Tomaney, 2014. "Continuity and Evolution in an Old Industrial Region: The Labour Market Dynamics of the Rise and Fall of Northern Rock," Regional Studies, Taylor & Francis Journals, vol. 48(1), pages 154-172, January.
    2. Diane Coyle & Marianne Sensier, 2020. "The imperial treasury: appraisal methodology and regional economic performance in the UK," Regional Studies, Taylor & Francis Journals, vol. 54(3), pages 283-295, March.
    3. Paul Gregg & Jonathan Wadsworth, 2010. "Employment in the 2008–2009 recession," Economic & Labour Market Review, Palgrave Macmillan;Office for National Statistics, vol. 4(8), pages 37-43, August.
    4. Marianne Sensier & Gillian Bristow & Adrian Healy, 2016. "Measuring Regional Economic Resilience across Europe: Operationalizing a complex concept," Spatial Economic Analysis, Taylor & Francis Journals, vol. 11(2), pages 128-151, June.
    5. Lauryn Ringwood & Philip Watson & Paul Lewin, 2019. "A quantitative method for measuring regional economic resilience to the great recession," Growth and Change, Wiley Blackwell, vol. 50(1), pages 381-402, March.
    6. Marianne Sensier & Michael Artis, 2016. "The Resilience of Employment in Wales: Through Recession and into Recovery," Regional Studies, Taylor & Francis Journals, vol. 50(4), pages 586-599, April.
    7. Harding, Don & Pagan, Adrian, 2002. "Dissecting the cycle: a methodological investigation," Journal of Monetary Economics, Elsevier, vol. 49(2), pages 365-381, March.
    8. Daniel E. Sichel, 2019. "Productivity Measurement: Racing to Keep Up," Annual Review of Economics, Annual Reviews, vol. 11(1), pages 591-614, August.
    9. Gillian Bristow & Adrian Healy, 2014. "Regional Resilience: An Agency Perspective," Regional Studies, Taylor & Francis Journals, vol. 48(5), pages 923-935, May.
    10. Gary Koop & Stuart McIntyre & James Mitchell & Aubrey Poon, 2018. "Regional Output Growth in the United Kingdom: More Timely and Higher Frequency Estimates, 1970-2017," Economic Statistics Centre of Excellence (ESCoE) Discussion Papers ESCoE DP-2018-14, Economic Statistics Centre of Excellence (ESCoE).
    11. Neil Lee, 2014. "Grim down South? The Determinants of Unemployment Increases in British Cities in the 2008-2009 Recession," Regional Studies, Taylor & Francis Journals, vol. 48(11), pages 1761-1778, November.
    12. Yicheol Han & Stephan J. Goetz, 2015. "The Economic Resilience of U.S. Counties during the Great Recession," The Review of Regional Studies, Southern Regional Science Association, vol. 45(2), pages 131-149, Fall.
    13. Anastasios Kitsos & Paul Bishop, 2018. "Economic resilience in Great Britain: the crisis impact and its determining factors for local authority districts," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 60(2), pages 329-347, March.
    14. Ron Martin & Peter Sunley, 2015. "On the notion of regional economic resilience: conceptualization and explanation," Journal of Economic Geography, Oxford University Press, vol. 15(1), pages 1-42.
    15. David Bailey & Nigel Berkeley, 2014. "Regional Responses to Recession: The Role of the West Midlands Regional Taskforce," Regional Studies, Taylor & Francis Journals, vol. 48(11), pages 1797-1812, November.
    16. Ron Martin & Ben Gardiner, 2019. "The resilience of cities to economic shocks: A tale of four recessions (and the challenge of Brexit)," Papers in Regional Science, Wiley Blackwell, vol. 98(4), pages 1801-1832, August.
    17. Pontarollo, Nicola & Serpieri, Carolina, 2020. "A composite policy tool to measure territorial resilience capacity," Socio-Economic Planning Sciences, Elsevier, vol. 70(C).
    18. Anna Rita Manca & Peter Benczur & Enrico Giovannini, 2017. "Building a Scientific Narrative Towards a More Resilient EU Society. Part 1: a Conceptual Framework," JRC Research Reports JRC106265, Joint Research Centre (Seville site).
    19. Paul A. Lewin & Philip Watson & Anna Brown, 2018. "Surviving the Great Recession: the influence of income inequality in US urban counties," Regional Studies, Taylor & Francis Journals, vol. 52(6), pages 781-792, June.
    20. Ron Martin & Peter Sunley & Ben Gardiner & Peter Tyler, 2016. "How Regions React to Recessions: Resilience and the Role of Economic Structure," Regional Studies, Taylor & Francis Journals, vol. 50(4), pages 561-585, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Tazviona Richman Gambe & Hermanus Stephanus Geyer & Anele Horn, 2022. "Economic Resilience of City‐Regions in Southern Africa: An Exploratory Study of Zimbabwe," Regional Science Policy & Practice, Wiley Blackwell, vol. 14(2), pages 438-455, April.
    2. Liangang Li & Shuoya Liu & Chen Li & Pingyu Zhang & Kevin Lo, 2022. "What Matters for Regional Economic Resilience Amid Multi Shock Situations: Structural or Agency? Evidence from Resource-Based Cities in China," Sustainability, MDPI, vol. 14(9), pages 1-18, May.
    3. Niesr, 2021. "Appendix," National Institute UK Economic Outlook, National Institute of Economic and Social Research, issue 1, pages 34-42.
    4. Bhattacharjee, Arnab & Lisauskaite, Elena & Pabst, Adrian & Tzendrei, Tibor, 2021. "UK Regional Outlook," National Institute UK Economic Outlook, National Institute of Economic and Social Research, issue 3, pages 37-50.
    5. Cyrille Lenoel & Young, Garry, 2021. "UK sectoral output," National Institute UK Economic Outlook, National Institute of Economic and Social Research, issue 1, pages 21-23.
    6. Marianne Sensier & Elvira Uyarra, 2020. "Investigating the Governance Mechanisms that Sustain Regional Economic Resilience and Inclusive Growth," Economics Discussion Paper Series 2005, Economics, The University of Manchester.
    7. Kucuk, Hande & Lenoel, Cyrille & MacQueen, Rory, 2021. "Brexit Britain in Covid recovery ward," National Institute UK Economic Outlook, National Institute of Economic and Social Research, issue 1, pages 5-20.
    8. Cristian Delgado‐Bello & Andrés Maroto Sáchez & Miguel Atienza Ubeda, 2023. "Resilience and economic structure: The case of the Chilean regions during the Asian crises and the Great Recession of 2008," Papers in Regional Science, Wiley Blackwell, vol. 102(1), pages 31-51, February.
    9. Liangang Li & Pingyu Zhang & Chengxin Wang, 2022. "What Affects the Economic Resilience of China’s Yellow River Basin Amid Economic Crisis—From the Perspective of Spatial Heterogeneity," IJERPH, MDPI, vol. 19(15), pages 1-20, July.
    10. Chadha, Jagjit S., 2021. "Foreward," National Institute UK Economic Outlook, National Institute of Economic and Social Research, issue 1, pages 1-3.
    11. Niesr, 2021. "Overview," National Institute UK Economic Outlook, National Institute of Economic and Social Research, issue 1, pages 1-4.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Marianne Sensier & Fiona Devine, 2020. "Levelling up Regional Resilience Following the Coronavirus Pandemic," Economics Discussion Paper Series 2008, Economics, The University of Manchester.
    2. Marianne Sensier & Elvira Uyarra, 2020. "Investigating the Governance Mechanisms that Sustain Regional Economic Resilience and Inclusive Growth," Economics Discussion Paper Series 2005, Economics, The University of Manchester.
    3. Hasan Engin Duran & Ugo Fratesi, 2023. "Economic resilience and regionally differentiated cycles: Evidence from a turning point approach in Italy," Papers in Regional Science, Wiley Blackwell, vol. 102(2), pages 219-252, April.
    4. Cristian Delgado‐Bello & Andrés Maroto Sáchez & Miguel Atienza Ubeda, 2023. "Resilience and economic structure: The case of the Chilean regions during the Asian crises and the Great Recession of 2008," Papers in Regional Science, Wiley Blackwell, vol. 102(1), pages 31-51, February.
    5. Vinko Muštra & Blanka Šimundić & Zvonimir Kuliš, 2020. "Does innovation matter for regional labour resilience? The case of EU regions," Regional Science Policy & Practice, Wiley Blackwell, vol. 12(5), pages 955-970, October.
    6. Xin Mai & Roger C. K. Chan & Chaoqun Zhan, 2019. "Which Sectors Really Matter for a Resilient Chinese Economy? A Structural Decomposition Analysis," Sustainability, MDPI, vol. 11(22), pages 1-17, November.
    7. Pontarollo, Nicola & Serpieri, Carolina, 2020. "A composite policy tool to measure territorial resilience capacity," Socio-Economic Planning Sciences, Elsevier, vol. 70(C).
    8. Anastasios Kitsos & André Carrascal-Incera & Raquel Ortega-Argilés, 2019. "The Role of Embeddedness on Regional Economic Resilience: Evidence from the UK," Sustainability, MDPI, vol. 11(14), pages 1-19, July.
    9. Donald Houston, 2020. "Local resistance to rising unemployment in the context of the COVID‐19 mitigation policies across Great Britain," Regional Science Policy & Practice, Wiley Blackwell, vol. 12(6), pages 1189-1209, December.
    10. Kurikka, Heli & Grillitsch, Markus, 2020. "Resilience in the periphery: What an agency perspective can bring to the table," Papers in Innovation Studies 2020/7, Lund University, CIRCLE - Centre for Innovation Research.
    11. Linus Holtermann & Christian Hundt, 2018. "Hierarchically structured determinants and phase related patterns of economic resilience. An empirical case study for European regions," Working Papers on Innovation and Space 2018-02, Philipps University Marburg, Department of Geography.
    12. Liangang Li & Pingyu Zhang & Chengxin Wang, 2022. "What Affects the Economic Resilience of China’s Yellow River Basin Amid Economic Crisis—From the Perspective of Spatial Heterogeneity," IJERPH, MDPI, vol. 19(15), pages 1-20, July.
    13. Riccardo Cappelli & Fabio Montobbio & Andrea Morrison, 2021. "Unemployment resistance across EU regions: the role of technological and human capital," Journal of Evolutionary Economics, Springer, vol. 31(1), pages 147-178, January.
    14. Juntao Tan & Xiaohui Hu & Fangdao Qiu & Hongbo Zhao, 2022. "Do Coastal Areas Experience More Recession during the Economic Crisis—Evidence from China," IJERPH, MDPI, vol. 19(18), pages 1-17, September.
    15. Giuseppe Terzo, 2021. "Social capital, social economy and economic resilience of Italian provinces," Papers in Regional Science, Wiley Blackwell, vol. 100(5), pages 1113-1135, October.
    16. Kitsos, Anastasios & Grabner, Simone Maria & Incera, Andre Carrascal, 2022. "The role of embeddedness in regional economic resistance," SocArXiv b759j, Center for Open Science.
    17. Jaakko Simonen & Johannes Herala & Rauli Svento, 2020. "Creative destruction and creative resilience: Restructuring of the Nokia dominated high‐tech sector in the Oulu region," Regional Science Policy & Practice, Wiley Blackwell, vol. 12(5), pages 931-953, October.
    18. Marcela SLUSARCIUC, 2017. "Milestones for the resilience of the cross-border regions," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 9(3), pages 401-422, October.
    19. Fabian Geelhoedt & Vicente Royuela & David Castells-Quintana, 2021. "Inequality and Employment Resilience: An Analysis of Spanish Municipalities during the Great Recession," International Regional Science Review, , vol. 44(1), pages 113-141, January.
    20. Lucia Alessi & Peter Benczur & Francesca Campolongo & Jessica Cariboni & Anna Rita Manca & Balint Menyhert & Andrea Pagano, 2020. "The Resilience of EU Member States to the Financial and Economic Crisis," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 148(2), pages 569-598, April.

    More about this item

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:nierev:v:253:y:2020:i::p:r18-r28_6. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://edirc.repec.org/data/niesruk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.