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Measuring urban financial resilience: a resource flow perspective

In: Research Handbook on City and Municipal Finance

Author

Listed:
  • Christine R. Martell
  • Temirlan T. Moldogaziev

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.

Suggested Citation

  • Christine R. Martell & Temirlan T. Moldogaziev, 2023. "Measuring urban financial resilience: a resource flow perspective," Chapters, in: Research Handbook on City and Municipal Finance, chapter 23, pages 433-452, Edward Elgar Publishing.
  • Handle: RePEc:elg:eechap:20063_23
    as

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    File URL: https://www.elgaronline.com/doi/10.4337/9781800372962.00032
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