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Determinants of Employment and GDP Resilience in the Context of an Economic Crisis: Evidence from EU Countries and Regions

Abstract: There have been many studies that have analysed the impact of a set of indicators on the economic resilience of countries and regions, but none that focus on the effects of determinants on the resilience of employment and GDP. This paper is a preliminary attempt to fill that gap by providing new cross-country, as well as cross-regional, evidence of the different effects of determinants on resilience measured in terms of GDP and employment. The analytical part of this paper is based on an analysis of the resilience of employment and GDP of EU countries, as well as at the NUTS 2 regional level, within the context of the economic crisis that began in 2008. The main method used in this study is correlation analysis. The results show the existence of specific determinants for a different type of resilience at the country level (e.g. indicators of economic structure). The determinants connected with human capital show a strong positive relationship with regards to resilience both at the country and regional levels (especially in terms of growth of employment and product).

 

Authors: Ondřej Svoboda, Petra Applová
Keywords: resilience, product, employment, recession, economic crisis
Volume: 9
Issue: 2
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