Spatial heterogeneity in the costs of the economic crisis in Europe: are cities sources of regional resilience?

Roberta Capello, Andrea Caragliu and Ugo Fratesi

Journal of Economic Geography, 2015, vol. 15, issue 5, 951-972

Abstract: This article measures the spatial heterogeneity of the costs of the economic crisis and assesses the role of cities as sources of regional resilience in Europe. Cities hosting financial activities have been severely hit during the crisis; however, they also host hard and soft territorial capital elements—high physical accessibility, access to information and knowledge, advanced functions, agglomeration economies—generating inter-sectoral productivity growth and the ability to adjust to the crisis. A scenario approach is used to capture the long term costs of the crisis, applying a new version of a macroeconometric regional growth forecasting model (MASST), recently updated to take account of the crisis. Results show that cities play a role in the resilience of regions; the quality of production factors hosted, the density of external linkages and cooperation networks and the quality of urban infrastructure give greater economic resilience to cities, and to the regions hosting them.

Date: 2015
References: Add references at CitEc
Citations: View citations in EconPapers (98)

Downloads: (external link)
http://hdl.handle.net/10.1093/jeg/lbu053 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:jecgeo:v:15:y:2015:i:5:p:951-972.

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

Journal of Economic Geography is currently edited by Jorge De la Roca, Stephen Gibbons, Simona Iammarino, Amanda Ross and James Faulconbridge

More articles in Journal of Economic Geography from Oxford University Press Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Bibliographic data for series maintained by Oxford University Press ().