The Role of Initial Conditions in Post-Great Recession Recovery and Development: Single-County MSAs

Richard V. Adkisson, Lawrence D. LaPlue and Christopher J. Sroka

Economic Development Quarterly, 2020, vol. 34, issue 1, 64-77

Abstract: This article studies the impact of initial (circa 2009) socioeconomic conditions on post-Great Recession economic development/recovery. The units observed are 145 single-county metropolitan statistical areas in the lower 48 American states. Principal components analysis is used to construct a four-dimensional index representing economic development/recovery over 2009 to 2016. Variables in five categories—education/human capital, general socioeconomic/demographic conditions, industrial structure, public policy, and regional variables—are used to explain variation in the economic development index. The estimates indicated that approximately two thirds of the variation in post-recession economic development can be explained using only initial conditions.

Keywords: MSAs; regional economic development; economic development index; initial conditions; postrecession (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:sae:ecdequ:v:34:y:2020:i:1:p:64-77

DOI: 10.1177/0891242419894375

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