WHICH CITIES ARE VULNERABLE TO THE GLOBAL ECONOMIC CRISIS? EVIDENCE RELATED TO SLOVAK CITIES

Oto Hudec, Nataliia Manakova and Monika Siserova

Theoretical and Empirical Researches in Urban Management, 2017, vol. 12, issue 2, 30-47

Abstract: The capacity of cities to respond to major recessionary shocks and hazards is an essential factor of long-run growth as it affects the existence, persistence and evolution of regional disparities in economic prosperity. Vulnerability to recession shocks in terms of rising unemployment varies from city to city and there are hidden factors behind the responses. The 2007 economic crisis provides an opportunity to study the vulnerability of cities to its effects. Three critical factors of vulnerability are investigated – prosperity, size of the city and regional affiliation. Prosperity is shown to be at the expense of the negative externality of greater vulnerability to external global shocks and disturbances. A lower ability to respond mainly relates to regional centres, larger cities as well as the smallest local units

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:rom:terumm:v:12:y:2017:i:2:p:30-47

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