Varieties of capitalism and resilience clusters: An exploratory approach to European regions

Pinto, Hugo, Healy, Adrian ORCID: https://orcid.org/0000-0001-5336-0147 and Cruz, Ana Rita 2019. Varieties of capitalism and resilience clusters: An exploratory approach to European regions. Regional Science Policy and Practice 11 (6) , pp. 913-933. 10.1111/rsp3.12183

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Abstract

Regions around the world suffered asymmetric effects with the global economic crisis of the last decade. European regions were not different, and a myriad of impacts with varied magnitudes was felt. This article, inspired by the literature of Varieties of Capitalism (VoC), presents statistical and econometric evidence about the differences of regional resilience, measured by the variation of economic product, unemployment and R&D across regions in European Union during the economic downturn. An exploratory approach analyses the socioeconomic resilience between different member-states, and VoC ideal-types (liberal market economies, the continental capitalism, the social-democrat economies, the Mediterranean capitalism, and the Eastern economies). The study presents a typology of Resilience Clusters in European regions. There were found six types of profiles concerning resilience: Great performers, Fast growth, Intermediate position, R&D reduction, Regions in divergence, and Mediterranean regions in big trouble. The study identifies key aspects for resilience, providing policy implications for regional economic policies. The comparison of the Resilience Clusters and the original VoC categorization has implications for this branch of literature as it does not completely address the variety of regional answers to the shocks.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Geography and Planning (GEOPL)
Publisher:	Wiley
ISSN:	1757-7802
Date of First Compliant Deposit:	23 January 2019
Date of Acceptance:	22 January 2019
Last Modified:	20 Nov 2024 08:45
URI:	https://orca.cardiff.ac.uk/id/eprint/118652

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