Measuring urban financial resilience: a resource flow perspective

Christine R. Martell and Temirlan T. Moldogaziev

Chapter 23 in Research Handbook on City and Municipal Finance, 2023, pp 433-452 from Edward Elgar Publishing

Abstract: Experiences of financial crises, the Great Recession, and the COVID-19 pandemic demonstrate that cities must maintain government services, even when contending with a shock. Urban financial resilience refers to the city’s ability to immediately meet its service demands, continue debt service payments, and operate capital stock throughout the duration of a shock. This research introduces a composite measure of urban financial resilience and applies it to an unbalanced panel sample of 46 cities around the world. The measure allows a method of baseline benchmarking, which is useful to guide policy choices and urban management practices. The data show that cities have a range of financial resilience, and that some cities with higher levels of financial resilience are better able to transition out of crisis and return, post-shock, to financial health. The data also reveal a number of anomalies that require future research.

Keywords: Economics and Finance; Politics and Public Policy Urban and Regional Studies (search for similar items in EconPapers)
Date: 2023
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