EU COMPETITIVENESS & ECONOMIC SHOCKS: COMPOSITE WEIGHTED INDEX OF REGIONAL RESILIENCE
Since 2008, the world has faced the economic crisis that has had devastating effects on many regions to various degrees. How regions respond to economic shock depends on regional economic structure and performance, administrative capacity, resources, human capital, social capital, and other factors, were perceived as resilience. Resilience has recently risen to prominence in several disciplines, has also entered policy discourse, and is one of the future strategic goals for the European Union. The aim of the paper is to introduce a methodology for assessing the resilience of EU28 NUTS 2 regions based on a construction of composite weighted index derived from EU Regional Competitiveness Index database of indicators using Factor analysis and their classification by Cluster analysis. Construction of composite indicators includes several steps that have to be made and corresponding methods have to be chosen to handle different aspects of economic issues including features of EU resilience.
Balcerowicz, L. et al. (2013). Economic Growth in the European Union. Brussel, BE: Lisbon Council.
Blanchard, O. & Katz, L. F. (1992). Regional Evolutions. Brookings Papers on Economic Activity, 1, 1-75.
Briguglio, L. et al. (2006). Conceptualizing and Measuring Economic Resilience. Building the Economic Resilience of Small States, 2(3), 265-287.
Bristow, G. (2005). Everyone’s a ‘winner: problematizing the discourse of regional competitiveness. Journal of Economic Geography, 5(3), 285-304.
Crescenzi, R., Luca, D. & Milio, S. (2016). The geography of the economic crisis in Europe: national macroeconomic conditions, regional structural factors and short-term economic performance. Cambridge Journal of Regions, Economy and Society, 9(1), 13-32.
Eraydin, A. (2013). Resilience Thinking for Planning, in Resilience Thinking in Urban Planning. Springer Science+Business Media Dordrecht, pp. 17-37.
Easterly, W. & Levine, R. (2012). The European origins of economic development. NBER Working Paper Series 18162. Retrieved January 17, 2017, from http://www.nber.org/papers/w18162
Feyrer, J., Sacerdote, B. & Stern, A. D. (2007). Did the Rust Belt Become Shiny? A Study of Cities and Counties That Lost Steel and Auto Jobs in the 1980s. Brookings-Wharton Papers on Urban Affairs, 41-102. doi 10.1353/urb.2007.0005
Fojtíková, L. (2016). Trends in the revealed comparative advantages of the EU member states. ECONOMIC ANNALS-XXI, 161(9-10), 7-11.
Foster, K.A. (2006). A Case Study Approach to Understanding Regional Resilience. Working paper 2007-08. Berkeley: Institute of Urban and Regional Development, pp. 1-45.
Gardiner, B., Martin, R. & Tyler, P. (2004). Competitiveness, Productivity and Economic Growth across the European Regions. Regional Studies, 38(1), 1045-1067.
Ghosh, J. et al. (2009). Models of BRICs’ Economic Development and Challenges for EU Competitiveness. Vienna, AT: The Vienna Institute for International Economics Studies.
Ηalkos, G. & Tzeremes, N. (2005). Α DEA approach to regional development. Munich, DE: University Library of Munich.
Koutský, J. et al. (2012). Profilace měkkých faktorů regionálního rozvoje jako nástroj posilování regionální odolnosti a adaptability. Certifikovaná metodika Ministerstva pro místní rozvoj. Prague, CZ: MMR.
Mancini et al. (2012). Conceptualizing and Measuring the Economic issues in the Evaluation of Socio-ecological Resilience: A Commentary. International Journal of Latest Trends in Finance and Economic Sciences, 3(2), 190-196.
Martin, R. (2012). Regional Economic Resilience, Hysteresis and Recessionary Shocks. Journal of Economic Geography, 12(1), 1-32.
Melecký, L. (2015). Assessment of Socioeconomic Development of Visegrad Four NUTS 2 regions Using Composite Indices. In Proceedings of 12th International Conference Economic Policy in the European Union Member Countries (pp. 561-571). Karviná, CZ: Silesian University.
Melecký, L. & Staníčková, M. (2015a). Assessment of EU Regional Resilience Using Composite Index. In Proceedings of the 13th International Conference Economic Policy in the European Union Member States Countries (pp. 382-395). Ostrava, CZ: Vysoká škola báňská - Technická univerzita Ostrava.
Melecký, L. & Staníčková, M. (2015b). Weighting Scheme for Measuring the Composite Index of EU Regional Resilience. In Proceedings of the 33rd international conference Mathematical Methods in Economics, (pp. 525-530). Plzeň, CZ: University of West Bohemia.
Milio, S. et al. (2014). Impact of the Economic Crisis on the Economic, Social and Territorial Cohesion of the European Union. Brussel, BE: European Parliament.
Ocubo, T. (2012). Antiagglomeration subsidies with heterogeneous firms. Journal of regional science, 52(2), 285-287.
Pindus, N., Weir, M., Wial, H. & Wolman, H. (2012). Building Resilient Regions: Urban and Regional Policy and Its Effects. Washington, USA: Brookings Institution Press.
Reich, M. (1997). Social Structure of Accumulation Theory: Retrospect and Prospect. Review of Radical Political Economics, 29(1): 1-10.
Rose, A. & S. Liao. (2005). Modeling Regional Economic Resilience to Disasters: A Computable General Equilibrium Analysis of Water Service Disruptions. Journal of Regional Science, 45(1), 75-112.
Staníčková, M. (2016). EU Resilience to Economic Crisis: Is the Applicability of Resilience Concept Realistic? In Proceedings of the 14th International Scientific Conference Economic Policy in the European Union Member Countries (pp. 638-648). Opava, CZ: Silesian University in Opava, School of Business Administration in Karvina.
Tamásy, Ch. & Diez, J.R. (2013). Regional Resilience, Economy and Society. Farnham, UK: Ashgate.
Watt, A. & Botsch, A. (2010). After the crisis: towards a sustainable growth model. Brussel, BE: European Trade Union Institute.
Abstract views: 209 PDF Downloads: 167
International College Suan Sunandha
Rajabhat University, Bangkok, Thailand