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

Author

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  • 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
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    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. 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.
    4. 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.
    5. 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.
    6. 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.
    7. Niesr, 2021. "Appendix," National Institute UK Economic Outlook, National Institute of Economic and Social Research, issue 1, pages 34-42.
    8. 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.
    9. Chadha, Jagjit S., 2023. "Foreword," National Institute Global Economic Outlook, National Institute of Economic and Social Research, issue 9, pages 1-3.
    10. Niesr, 2021. "Overview," National Institute UK Economic Outlook, National Institute of Economic and Social Research, issue 1, pages 1-4.
    11. Kucuk, Hande & Lenoel, Cyrille & MacQueen, Rory, 2021. "UK sectoral output," National Institute UK Economic Outlook, National Institute of Economic and Social Research, issue 2, pages 33-41.

    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

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