IDEAS home Printed from https://ideas.repec.org/a/oup/jecgeo/v12y2012i1p1-32.html
   My bibliography  Save this article

Regional economic resilience, hysteresis and recessionary shocks

Author

Abstract

The notion of 'resilience' has recently risen to prominence in several disciplines, and has also entered policy discourse. Yet the meaning and relevance of the concept are far from settled matters. This paper develops the idea of resilience and examines its usefulness as an aid to understanding the reaction of regional economies to major recessionary shocks. But in so doing, it is also argued that the notion of resilience can usefully be combined with that of hysteresis in order to more fully capture the possible reactions of regional economies to major recessions. These ideas are then used as the basis for a preliminary empirical analysis of the UK regions.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Ron Martin, 2012. "Regional economic resilience, hysteresis and recessionary shocks," Journal of Economic Geography, Oxford University Press, vol. 12(1), pages 1-32, January.
    • Handle: RePEc:oup:jecgeo:v:12:y:2012:i:1:p:1-32
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1093/jeg/lbr019
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Ron Martin, 1997. "Regional Unemployment Disparities and their Dynamics," Regional Studies, Taylor & Francis Journals, vol. 31(3), pages 237-252.
    2. Valerie Cerra & Sweta Chaman Saxena, 2008. "Growth Dynamics: The Myth of Economic Recovery," American Economic Review, American Economic Association, vol. 98(1), pages 439-457, March.
    3. Ann Markusen, 2003. "Fuzzy Concepts, Scanty Evidence, Policy Distance: The Case for Rigour and Policy Relevance in Critical Regional Studies," Regional Studies, Taylor & Francis Journals, vol. 37(6-7), pages 701-717.
    4. Matthias Göcke, 2002. "Various Concepts of Hysteresis Applied in Economics," Journal of Economic Surveys, Wiley Blackwell, vol. 16(2), pages 167-188, April.
    5. Chad R. Wilkerson, 2009. "Recession and recovery across the nation: lessons from history," Economic Review, Federal Reserve Bank of Kansas City, vol. 94(Q II), pages 5-24.
    6. Setterfield, Mark, 1998. "History versus Equilibrium: Nicholas Kaldor on Historical Time and Economic Theory," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 22(5), pages 521-537, September.
    7. Hanley, Nick, 1998. "Resilience in social and economic systems: a concept that fails the cost–benefit test?," Environment and Development Economics, Cambridge University Press, vol. 3(2), pages 221-262, May.
    Full references (including those not matched with items on IDEAS)

    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. Bayer Christian & Jüßen Falko, 2007. "Convergence in West German Regional Unemployment Rates," German Economic Review, De Gruyter, vol. 8(4), pages 510-535, December.
    2. Rod Cross, 2014. "Unemployment: natural rate epicycles or hysteresis?," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 11(2), pages 136-148, September.
    3. Miguel A. León-Ledesma & Matteo Lanzafame, 2010. "The Endogenous Nature of the ‘Natural’ Rate of Growth," Chapters, in: Mark Setterfield (ed.), Handbook of Alternative Theories of Economic Growth, chapter 10, Edward Elgar Publishing.
    4. 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.
    5. Zdeněk Chytil & Lukáš Máslo, 2016. "Revize monetárního modelu Marca Lavoieho endogenizací parametru gama," Politická ekonomie, Prague University of Economics and Business, vol. 2016(2), pages 209-217.
    6. 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.
    7. Juan José Echavarría & Andrés González, 2012. "Choques internacionales reales y financieros y su impacto sobre la economía colombiana," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 30(69), pages 14-66, December.
    8. Douglas Sutherland & Peter Hoeller & Balázs Égert & Oliver Röhn, 2010. "Counter-cyclical Economic Policy," OECD Economics Department Working Papers 760, OECD Publishing.
    9. Marina Capparucci & Emanuela Ghignoni & Alina Verashchagina & Natalia Vorozhbit, 2015. "The Drivers of Innovation in the Italian Manufacturing Sector," Economia & lavoro, Carocci editore, issue 3, pages 111-128.
    10. Chang Woon Nam & Jan Schumacher, 2014. "Dynamics and Time Frameof Post War Recovery Required for Compensating Civil War Economic Losses," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 15(03), pages 79-87, August.
    11. Couaillier, Cyril & Scalone, Valerio, 2024. "Risk-to buffer: setting cyclical and structural banks capital requirements through stress test," Working Paper Series 2966, European Central Bank.
    12. Stefano Costalli & Luigi Moretti & Costantino Pischedda, 2014. "The Economic Costs of Civil War: Synthetic Counterfactual Evidence and the Effects of Ethnic Fractionalization," HiCN Working Papers 184, Households in Conflict Network.
    13. Amolo Elvis Juma Amolo, PhD & Charles Mallans Rambo, PhD & Charles Misiko Wafula, PhD, 2021. "Alternative Risk Transfer and Performance of Power Projects in Kenya," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 8(12), pages 28-35, December.
    14. Hazem Krichene & Abhijit Chakraborty & Hiroyasu Inoue & Yoshi Fujiwara, 2017. "Business cycles’ correlation and systemic risk of the Japanese supplier-customer network," PLOS ONE, Public Library of Science, vol. 12(10), pages 1-22, October.
    15. Mr. Nicolas Arregui & Mr. Jaromir Benes & Mr. Ivo Krznar & Ms. Srobona Mitra & Mr. Andre O Santos, 2013. "Evaluating the Net Benefits of Macroprudential Policy: A Cookbook," IMF Working Papers 2013/167, International Monetary Fund.
    16. Albonico, Alice & Tirelli, Patrizio, 2020. "Financial crises and sudden stops: Was the European monetary union crisis different?," Economic Modelling, Elsevier, vol. 93(C), pages 13-26.
    17. Barnichon, Regis & Matthes, Christian & Ziegenbein, Alexander, 2016. "Assessing the Non-Linear Effects of Credit Market Shocks," CEPR Discussion Papers 11410, C.E.P.R. Discussion Papers.
    18. Janus, Thorsten & Riera-Crichton, Daniel, 2015. "Economic shocks, civil war and ethnicity," Journal of Development Economics, Elsevier, vol. 115(C), pages 32-44.
    19. Marion Mercier & Rama Lionel Ngenzebuke & Philip Verwimp, 2016. "Violence exposure and welfare over time: Evidence from the Burundi civil war," HiCN Working Papers 198 updated, Households in Conflict Network.
    20. Teles, Vladimir K & de Prince Mendonça, Diogo, 2013. "Política Monetária em Tempos de Crise," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 67(4), November.

    More about this item

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • R0 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General
    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

    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:oup:jecgeo:v:12:y:2012:i:1:p:1-32. 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: Oxford University Press (email available below). General contact details of provider: https://academic.oup.com/joeg .

    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.