Economic Shocks and Regional Economic Resilience

By Edward Hill et al. (BRR working paper, [pdf], April 2011).

Also in Building Resilient Regions: Urban and Regional Policy and Its Effects, volume 4, edited by Nancy Pindus, Margaret Weir, Howard Wial, and Harold Wolman, Brookings Institution Press, February 2012).

Hill and colleagues document which factors make metro regions resilient to economic or natural shocks. The analysis shows that there are no silver bullets, but the areas’s economy, labor market flexibility,and level of income disparity are important factors. Most important, they find, are the area’s business leaders. The area’s resilience often turns on their business decisions to expand, diversify, or hold steady.

Volume 4 in the series introduces and examines the concept of regional resilience. The authors illuminate how the walls that now segment metro regions into political jurisdictions must be bridged in order for regions to cultivate resilience. In addition to a thorough overview of both regionalism and resilience, chapters examine how a regional perspective plays out in the foreclosure crisis, immigration policies, transit-oriented development, and in extending the social safety net to the suburbs, where poverty is increasing but social services are not.