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Editor's choice The geography of the economic crisis in Europe: national macroeconomic conditions, regional structural factors and short-term economic performance

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  • Riccardo Crescenzi
  • Davide Luca
  • Simona Milio

Abstract

This article explores the linkages between pre-2008 crisis national macroeconomic conditions, regional resistance factors and depth of the crisis in the regions of the EU27. The results suggest that only a limited set of macroeconomic factors shape the regional reaction to the crisis. A healthy current account surplus is associated with stronger economic performance during the post-2008 recession. Conversely, high public debt countries are more successful in sheltering their regional economies in the short run. When looking at regional-level resistance, human capital is the single most important positive factor. Conversely, research and development-intensive regions are more exposed to negative shocks.

Suggested Citation

  • Riccardo Crescenzi & Davide Luca & Simona Milio, 2016. "Editor's choice 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, Cambridge Political Economy Society, vol. 9(1), pages 13-32.
    • Handle: RePEc:oup:cjrecs:v:9:y:2016:i:1:p:13-32.
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    File URL: http://hdl.handle.net/10.1093/cjres/rsv031
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