Podcast
Questions and Answers
What is the main focus of this study?
What is the main focus of this study?
- The importance of spatial econometric techniques in regional economics.
- The impact of related variety on the economic performance of firms.
- The effects of the 2008 Great Recession on regional economies.
- The relationship between related variety and regional resilience. (correct)
What geographical unit of analysis is used in the study?
What geographical unit of analysis is used in the study?
- Cities
- Local labor markets (LLMs) (correct)
- Regions
- Countries
What specific economic shock does the study analyze?
What specific economic shock does the study analyze?
- The 2008 Global Financial Crisis (correct)
- The 2010 European Sovereign Debt Crisis
- The 1997 Asian Financial Crisis
- The 2020 COVID-19 Pandemic
What is the primary method used to analyze the relationship between related variety and resilience in the study?
What is the primary method used to analyze the relationship between related variety and resilience in the study?
What is the primary finding of the study regarding the relationship between related variety and resilience in the short term (2012-2013)?
What is the primary finding of the study regarding the relationship between related variety and resilience in the short term (2012-2013)?
What is the primary finding of the study regarding the relationship between related variety and resilience in the longer term (2010-2013)?
What is the primary finding of the study regarding the relationship between related variety and resilience in the longer term (2010-2013)?
What JEL classification codes are used for this study?
What JEL classification codes are used for this study?
How does related variety contribute to regional resilience?
How does related variety contribute to regional resilience?
What is the main focus of the text?
What is the main focus of the text?
What is the primary reason for the increased interest in regional resilience?
What is the primary reason for the increased interest in regional resilience?
What is one of the key factors influencing regional resilience?
What is one of the key factors influencing regional resilience?
What is the core idea of related variety, as discussed in the text?
What is the core idea of related variety, as discussed in the text?
What is a potential argument for related variety being a crucial component of regional resilience?
What is a potential argument for related variety being a crucial component of regional resilience?
What is one of the main criticisms of the concept of related variety as discussed in the text?
What is one of the main criticisms of the concept of related variety as discussed in the text?
What is the common conclusion of empirical studies on related variety?
What is the common conclusion of empirical studies on related variety?
What is the main reason for the limited analysis on the impact of related variety on regional resilience?
What is the main reason for the limited analysis on the impact of related variety on regional resilience?
Which of the following is NOT considered a threatening event that resilience is measured against?
Which of the following is NOT considered a threatening event that resilience is measured against?
What is a common method used to assess resilience to natural disasters?
What is a common method used to assess resilience to natural disasters?
What does the 'ratio between the drop in regional employment or output and the corresponding drop in the country as a whole' measure?
What does the 'ratio between the drop in regional employment or output and the corresponding drop in the country as a whole' measure?
Which method is NOT mentioned in the text as a way to identify variables for composite indicators of resilience?
Which method is NOT mentioned in the text as a way to identify variables for composite indicators of resilience?
What is the main focus of the research stream that explores the relationship between related variety and regional resilience?
What is the main focus of the research stream that explores the relationship between related variety and regional resilience?
What is the concept of 'related variety' primarily concerned with?
What is the concept of 'related variety' primarily concerned with?
What is the primary difference between simple and composite indicators of resilience?
What is the primary difference between simple and composite indicators of resilience?
Which of the following statements best describes the relationship between related variety and regional resilience as presented in the text?
Which of the following statements best describes the relationship between related variety and regional resilience as presented in the text?
What is the primary objective of the study?
What is the primary objective of the study?
What does the variable 'El' represent in the resilience equation?
What does the variable 'El' represent in the resilience equation?
According to the equation, what would a negative value for 'ResilienceT−t' indicate?
According to the equation, what would a negative value for 'ResilienceT−t' indicate?
What does the term 'related variety' refer to?
What does the term 'related variety' refer to?
What are the two time periods used to evaluate economic resilience in the study?
What are the two time periods used to evaluate economic resilience in the study?
What is the purpose of using the Lagravinese (2015) index?
What is the purpose of using the Lagravinese (2015) index?
What is the main purpose of studying economic resilience?
What is the main purpose of studying economic resilience?
What does the author suggest about the relationship between related variety and regional resilience?
What does the author suggest about the relationship between related variety and regional resilience?
What determines the ability of regions to develop new industrial specializations after the 2008 Great Recession?
What determines the ability of regions to develop new industrial specializations after the 2008 Great Recession?
Which measure is used to quantify industrial relatedness?
Which measure is used to quantify industrial relatedness?
How does related variety contribute to regional resilience in knowledge-intensive sectors?
How does related variety contribute to regional resilience in knowledge-intensive sectors?
What is the primary assumption of related variety?
What is the primary assumption of related variety?
What role does cognitive proximity play in the diffusion of shared competencies?
What role does cognitive proximity play in the diffusion of shared competencies?
What aspect of local systems does related variety strengthen as a response to external shocks?
What aspect of local systems does related variety strengthen as a response to external shocks?
Which is NOT a benefit of having a diversified productive structure in a local system?
Which is NOT a benefit of having a diversified productive structure in a local system?
According to the study, industrial relatedness positively affects regional resilience in which types of sectors?
According to the study, industrial relatedness positively affects regional resilience in which types of sectors?
In what year did the Italian GDP first reach its pre-crisis level after the 2008 Great Recession?
In what year did the Italian GDP first reach its pre-crisis level after the 2008 Great Recession?
What periods were characterized by a negative annual GDP growth for Italy?
What periods were characterized by a negative annual GDP growth for Italy?
According to Martin (2012), what does a resilience index value greater than one indicate?
According to Martin (2012), what does a resilience index value greater than one indicate?
During the 1-year period from 2012-2013, what percentage of Italian LLMs recorded a positive employment growth rate?
During the 1-year period from 2012-2013, what percentage of Italian LLMs recorded a positive employment growth rate?
What was the negative employment growth rate recorded for Italy during the analysis periods?
What was the negative employment growth rate recorded for Italy during the analysis periods?
How many LLMs experienced zero growth in employment during the 3-year period from 2010-2013?
How many LLMs experienced zero growth in employment during the 3-year period from 2010-2013?
What is required for the resilience index proposed by Martin (2012) to function properly?
What is required for the resilience index proposed by Martin (2012) to function properly?
Which period marked the beginning of GDP growth after the recession in Italy?
Which period marked the beginning of GDP growth after the recession in Italy?
Flashcards
Regional Resilience
Regional Resilience
A region's capacity to positively react to external shocks or disruptions.
Great Recession
Great Recession
The severe global economic downturn that began in 2008, impacting Europe variably.
Related Diversification
Related Diversification
A strategy where a region develops industries that share competencies.
Related Variety
Related Variety
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Cognitive Proximity
Cognitive Proximity
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Industrial Structure
Industrial Structure
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Empirical Studies
Empirical Studies
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Evolutionary Approach
Evolutionary Approach
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Local Labour Market (LLM)
Local Labour Market (LLM)
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2008 Great Recession
2008 Great Recession
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Spatial Econometric Techniques
Spatial Econometric Techniques
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Shock Absorber
Shock Absorber
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3-Year Resilience Period (2010-2013)
3-Year Resilience Period (2010-2013)
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1-Year Resilience Period (2012-2013)
1-Year Resilience Period (2012-2013)
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Resilience
Resilience
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Operationalisation
Operationalisation
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Composite Indicators
Composite Indicators
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Economic Shocks
Economic Shocks
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Simple Indicators
Simple Indicators
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Factor Analysis
Factor Analysis
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Seemingly Unrelated Regression Equations (SURE)
Seemingly Unrelated Regression Equations (SURE)
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Economic Resilience
Economic Resilience
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Lagravinese Index
Lagravinese Index
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Asymmetric Regional Behaviours
Asymmetric Regional Behaviours
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Post-Crisis Periods
Post-Crisis Periods
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Resilience Calculation
Resilience Calculation
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LLM (Local Labor Market)
LLM (Local Labor Market)
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Resilience Indicators
Resilience Indicators
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1-year vs. 3-year Evaluation
1-year vs. 3-year Evaluation
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Italian GDP Recovery
Italian GDP Recovery
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2011-2012 Recession
2011-2012 Recession
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Resilience Index
Resilience Index
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High Sensitivity Indicator
High Sensitivity Indicator
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Low Sensitivity Indicator
Low Sensitivity Indicator
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Negative Employment Growth
Negative Employment Growth
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Positive Employment Growth
Positive Employment Growth
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Zero-Growth LLMs
Zero-Growth LLMs
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Industrial relatedness
Industrial relatedness
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Technological relatedness
Technological relatedness
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Complementarities
Complementarities
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Study Notes
Regional Resilience and Related Variety in Italy
- Italian regions experienced varying responses to the 2008 Great Recession
- Regional resilience is the capacity to adapt to external shocks
- Related variety, encompassing the diversification of industrial domains with shared competencies, is a key component of regional resilience
- Related variety positively impacts regional short-term resilience to economic shocks (2010-2013)
- Related variety shows a negligible role in short-term resilience (2012-2013)
- Regions with higher related variety demonstrated a greater capacity to adapt to the 2008 economic recession over a three-year period (2010-2013).
- The study uses spatial econometric techniques to explore the relationship between related variety and regional resilience.
- The study focused on local labor markets (LLM) across Italy using data from the 2008 recession aftermath.
- Key concept of related variety emphasizes the presence of diversified industrial domains, fostering shared competencies across industries.
Measuring Regional Resilience
-
Resilience is measured as the ratio of regional employment decline to the decline of the country's employment or output following the 2008 recession.
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A positive resilience index greater than zero signified greater resilience, while a negative index indicated greater sensitivity to shocks.
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Spatial Econometric techniques used to model the impact of spatial relationships.
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The study used three-year (2010–2013) and one-year (2012–2013) periods to evaluate the economic resilience in Italian LLMs, post-recession.
Related Variety
- Related variety is based on employment data for five-digit economic activity, employing an index developed from employment data at the LLM level for 2001 (related variety 2001).
- A related variety index calculated to evaluate relatedness considering two-digit economic activities.
- High related variety index signifies strong related diversification, enabling efficient resource reallocation across industries.
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