Economic Shocks and Regional Economic Resilience, Working Paper 040 Open Access
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Economic shocks occur periodically to metropolitan economies, though the effect that these shocks have varies from region to region as does the region’s adjustment and recovery to them. In this paper we examine the nature and extent of these shocks, their effects on regional economies (some regional economies are resistant to shocks, while others suffer substantial downturns), and the resilience of regional economies to these shocks. We are particularly concerned with regional economic resilience: why are some regional economies that are adversely affected by shocks able to recover in a relatively short period of time while others are not?