The role of regional competitiveness in shaping the heterogeneous impact of the Great Recession

Pizzuto, Pietro

doi:10.1111/rsp3.12196

Cited by 7 publications

(6 citation statements)

References 61 publications

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“…For example, Brakman et al (2015) focused on regional urbanization, Martin et al (2016) investigated the role of the economic structure, and Crescenzi et al (2016) looked at several macroeconomic and regional factors that may have affected regional resilience in Europe. Instead, Fratesi and Perucca (2018), Mazzola et al (2018), Lo Cascio et al (2019) and Pizzuto (2019) identified a number of local factors that may have affected sub-regional as well as regional resilience.…”

Section: Literature Backgroundmentioning

confidence: 99%

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The role of tourism in island economic growth and resilience

Mazzola

Pizzuto

Ruggieri

2019

JES

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Purpose The purpose of this paper is to verifying the economic resilience of islands and, in particular, the role of the tourism sector in the reaction to the most recent economic crisis. The analysis concerns insular contexts, such as the greater island regions in the Mediterranean basin. Design/methodology/approach Static and dynamic panel data techniques are used for a sample of 13 island economies over a period of 16 years. Findings Results show that the growth factors for regional islands are similar to the ones usually considered for other regions, but the tourism-led growth hypothesis is highly supported. Tourism demand more than supply plays a role together with accessibility. The crisis has reduced the importance of tourism supply, while tourism demand and accessibility have remained crucial for growth together with other traditional engines of growth. Originality/value To the best of authors’ knowledge, none of the current works has considered territorial determinants and tourism indicators inside the same framework analyzing growth in island economies by considering the changes occurred during the crisis explicitly.

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Section: Literature Backgroundmentioning

confidence: 99%

“…However, some empirical studies have obtained ambiguous results depending on the outcome variable investigated (income vs employment growth) and the period analyzed (expansionary vs contractionary periods). Some examples are Di Liberto (2008), Fratesi and Perucca (2018) and Pizzuto (2019).…”

Section: Literature Backgroundmentioning

confidence: 99%

The role of tourism in island economic growth and resilience

Mazzola

Pizzuto

Ruggieri

2019

JES

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“…One possible explanation for FDIs' negative regional impact in Romania is their high mobility in search of the best market available at a certain moment. Leaving the region when they run out of high profits, foreign investments may increase local firms' vulnerability and risks (Pizzuto, 2019). Moreover, the spatial distribution of foreign investments in the Romanian economy is highly imbalanced, with the capital region Bucharest–Ilfov constantly concentrating between 55% and 60% of FDIs in the period of reference, hence their benefits are also unevenly distributed among regions, deepening competition and inequalities.…”

Section: Resultsmentioning

confidence: 99%

What makes new firms resilient? A spatial analysis for Romania

Goschin

2020

Regional Science Policy & Practice

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Resilient regions seem to be able to retain a higher level of entrepreneurial activity in times of crisis, when the capacity of new firms to survive and thrive is severely put to test. Aiming to find which regional characteristics sustain entrepreneurship resilience, this paper explores the impact of the recent economic and financial crisis on the survival of new firms, using Romania as an exponent of postcommunist countries in Central and Eastern Europe. After testing a wide range of potential explicative factors, we found that the most consequential ones are the foreign direct investments, population growth and the agglomeration of active firms. A custom-made economic crisis variable differentiated the recession time span for each county, according to its individual response to crisis, and allowed us to find how the economic crisis changes the spatial influence of the variables. The spatial panel framework used for this analysis showed that location matters for the survival of newly born firms.

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“…To assess the various changes in economic development of European Union including Polish economy, Roszko-Wojtowicz and Grzelak (2020) studied international competitiveness of these regions using different methods. Pizzuto (2020) studied the role of regional competitiveness in the changes observed in employment and performances of economies of 202 regions of European Union.…”

Section: Introductionmentioning

confidence: 99%

Developing a competitiveness index at sub-national level for India: an economic growth measure

Moirangthem

Nag

2022

IJOEM

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PurposeThe objective of this study is threefold–first, to develop a Regional Competitiveness Index (RCI) for measuring competitiveness of sub-national regions for India; second, to test this index for its ability to explain regional growth, which validates usage and applicability of this index; and third, to further investigate if the competitiveness of states is in turn caused by economic growth, i.e. it is tested if there is a bidirectional causality between competitiveness and regional growth.Design/methodology/approachThe data of indicators used in the index are from sources available freely in public domain. The competitiveness index is constructed using equal weightage supported by principal component analysis (PCA) technique. The causal relationship analysis is done using panel data of 10 years from 2008 to 2017 for 32 Indian states/union territories. The generalized method of moments (GMMs) is used for this dynamic regression estimation.FindingsBased on RCI score, states have been ranked and through rank analysis, the authors observe the performance status of these sub-national regions and are able to categorize them as improving, no change or deteriorating in regional competitiveness. Using the GMM estimation, the association between RCI and economic growth is found to be significant at 10% level. This shows that regional competitiveness as captured through the RCI score is able to explain regional economic growth and economic disparity among the sub-national units. Further, that RCI score is found to Granger-cause growth, while growth does not lead to better RCI scores. This establishes the usefulness of RCI as an important policy variable to compare states and provide direction for sectoral reforms.Research limitations/implicationsThe limitations of the study include (1) broad assumption that these sub-national regions belong to a uniform macro-economic and technology environment, and (2) data constraints as it is a longitudinal study. The study implies that the composite index could capture differences in regional competitiveness explaining regional economic disparity and that competitiveness causes higher economic growth and not vice versa.Practical implicationsThe RCI score can prove to be a useful indicator of economic performance of different states and can be used by national and state policymakers to compare and assess regional disparity among different states. The pillar-wise scores will be useful for in-depth study of weakness and strength of the sub-national territories.Originality/valueConstruction of an RCI for sub-national territories and analysis of panel data for longitudinal study of ten years is unique in the regional competitiveness literature.

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The role of regional competitiveness in shaping the heterogeneous impact of the Great Recession

Cited by 7 publications

References 61 publications

The role of tourism in island economic growth and resilience

The role of tourism in island economic growth and resilience

What makes new firms resilient? A spatial analysis for Romania

Developing a competitiveness index at sub-national level for India: an economic growth measure

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