Reevaluating Alternative Measures Of Industrial Diversity As Indicators Of Regional Cyclical Variations

Bruce D. Wundt
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Bruce D. Wundt: University of Hartford

The Review of Regional Studies, 1992, vol. 22, issue 1, 59-73

Abstract: This paper examines the relationship between industrial diversity and regional cyclical instability in a new setting by focusing on detailed information of one region over time. It compares the ability of various measures of regional diversification to explain historical employment variations in manufacturing employment in the state of Connecticut between 1964 and 1983 at both the 2-digit and 3-digit SIC levels. This study demonstrates that the portfolio variance is an effective yardstick for tracking cyclical instability and provides policymakers with a tool to feasibly approach the problem of instability in regions.

Date: 1992
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