A Framework for Measuring County Economic Resilience

Randall Jackson (), Mulugeta Kahsai (), Peter Schaeffer, Mark Middleton and Junbo Yu ()
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Mulugeta Kahsai: College of Engineering and Technology, Virginia State University
Mark Middleton: Regional Research Institute, West Virginia University
Junbo Yu: School of Administration, Jilin University

Working Papers from Regional Research Institute, West Virginia University

Abstract: The study provides a framework to develop economic resilience index for West Virginia counties based on the premise that county economic resilience depends on its physical and human resources, structure and diversity of its economic base (employment and income diversity), entrepreneurial activity and business dynamics and scale and proximity (spatial issues). Using 17 indicators along four of the six proposed dimensions, a preliminary economic resilience index has been created for West Virginia counties for the years 2000 and 2005. Geospatial maps are also developed to explore the evolution of the geographical patterns of economic resilience across time. The effectiveness of the index is further affirmed in correlation analyses where the contribution of economic resilience to unemployment reduction and employment growth is highly significant. These preliminary results are encouraging and appear to be pointing in a useful direction. The discussion in this study can serve as a starting point for building a broad-based, standardized, and consistent definition and measure of economic resilience.

Keywords: regional economic development; economic structure; resilience (search for similar items in EconPapers)
JEL-codes: R11 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2015-03-17
New Economics Papers: this item is included in nep-geo and nep-ure
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:rri:wpaper:2015wp03

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