Territorial Capital and Growth over the Great Recession: a Local Analysis for Italy"

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Abstract

The consequences of the crisis have been mainly analyzed at national/ international levels, neglecting its differential effects on local areas. Notwithstanding the international character of the Great Recession, the different local structural features might have influenced the economic and social impact of the crisis, determining effects on the resilience and recovery chance. In this paper, we focus on the role of different territorial indicators by looking at how their relevance has changed during the recent crisis at provincial level. Our aim is threefold. First, we identify the strategic territorial elements which might be particularly relevant in ensuring a greater local absorption capacity. Second, we test whether the crisis has increased the role of specific local factors. In doing that, we use different measures of performance (GDP, exports and employment). Third, we control for macro-regional characteristics (i.e., North versus South) and local specific effects through a panel analysis of the dynamics of the performance variables in three sub-periods over the years 2000–2014. For that purpose, we use a multidimensional dataset for Italian provinces aiming at estimating the empirical relations between the set of territorial elements (i.e., the components of the so-called territorial capital) and the change in local performance. The results stress the role of some localized variables (i.e., human and cultural/natural/capital, agglomeration economies) over the whole period and the changing role of other terri- torial dimensions (material and non-material) according to the performance variable considered and during the crisis.
Lingua originaleEnglish
Numero di pagine33
RivistaTHE ANNALS OF REGIONAL SCIENCE
Volume60
Stato di pubblicazionePublished - 2017

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recession
Italy
natural capital
social impact
performance
agglomeration
Gross Domestic Product
economic impact
local factors
social effects
resilience
agglomeration area
analysis
effect
economy

All Science Journal Classification (ASJC) codes

  • Environmental Science(all)
  • Social Sciences(all)

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title = "Territorial Capital and Growth over the Great Recession: a Local Analysis for Italy{"}",
abstract = "The consequences of the crisis have been mainly analyzed at national/ international levels, neglecting its differential effects on local areas. Notwithstanding the international character of the Great Recession, the different local structural features might have influenced the economic and social impact of the crisis, determining effects on the resilience and recovery chance. In this paper, we focus on the role of different territorial indicators by looking at how their relevance has changed during the recent crisis at provincial level. Our aim is threefold. First, we identify the strategic territorial elements which might be particularly relevant in ensuring a greater local absorption capacity. Second, we test whether the crisis has increased the role of specific local factors. In doing that, we use different measures of performance (GDP, exports and employment). Third, we control for macro-regional characteristics (i.e., North versus South) and local specific effects through a panel analysis of the dynamics of the performance variables in three sub-periods over the years 2000–2014. For that purpose, we use a multidimensional dataset for Italian provinces aiming at estimating the empirical relations between the set of territorial elements (i.e., the components of the so-called territorial capital) and the change in local performance. The results stress the role of some localized variables (i.e., human and cultural/natural/capital, agglomeration economies) over the whole period and the changing role of other terri- torial dimensions (material and non-material) according to the performance variable considered and during the crisis.",
keywords = "Crisis, NUTS-3 regions, Territorial capital",
author = "{Lo Cascio}, Iolanda and Rosalia Epifanio and Fabio Mazzola and {Di Giacomo}, Giuseppe",
year = "2017",
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TY - JOUR

T1 - Territorial Capital and Growth over the Great Recession: a Local Analysis for Italy"

AU - Lo Cascio, Iolanda

AU - Epifanio, Rosalia

AU - Mazzola, Fabio

AU - Di Giacomo, Giuseppe

PY - 2017

Y1 - 2017

N2 - The consequences of the crisis have been mainly analyzed at national/ international levels, neglecting its differential effects on local areas. Notwithstanding the international character of the Great Recession, the different local structural features might have influenced the economic and social impact of the crisis, determining effects on the resilience and recovery chance. In this paper, we focus on the role of different territorial indicators by looking at how their relevance has changed during the recent crisis at provincial level. Our aim is threefold. First, we identify the strategic territorial elements which might be particularly relevant in ensuring a greater local absorption capacity. Second, we test whether the crisis has increased the role of specific local factors. In doing that, we use different measures of performance (GDP, exports and employment). Third, we control for macro-regional characteristics (i.e., North versus South) and local specific effects through a panel analysis of the dynamics of the performance variables in three sub-periods over the years 2000–2014. For that purpose, we use a multidimensional dataset for Italian provinces aiming at estimating the empirical relations between the set of territorial elements (i.e., the components of the so-called territorial capital) and the change in local performance. The results stress the role of some localized variables (i.e., human and cultural/natural/capital, agglomeration economies) over the whole period and the changing role of other terri- torial dimensions (material and non-material) according to the performance variable considered and during the crisis.

AB - The consequences of the crisis have been mainly analyzed at national/ international levels, neglecting its differential effects on local areas. Notwithstanding the international character of the Great Recession, the different local structural features might have influenced the economic and social impact of the crisis, determining effects on the resilience and recovery chance. In this paper, we focus on the role of different territorial indicators by looking at how their relevance has changed during the recent crisis at provincial level. Our aim is threefold. First, we identify the strategic territorial elements which might be particularly relevant in ensuring a greater local absorption capacity. Second, we test whether the crisis has increased the role of specific local factors. In doing that, we use different measures of performance (GDP, exports and employment). Third, we control for macro-regional characteristics (i.e., North versus South) and local specific effects through a panel analysis of the dynamics of the performance variables in three sub-periods over the years 2000–2014. For that purpose, we use a multidimensional dataset for Italian provinces aiming at estimating the empirical relations between the set of territorial elements (i.e., the components of the so-called territorial capital) and the change in local performance. The results stress the role of some localized variables (i.e., human and cultural/natural/capital, agglomeration economies) over the whole period and the changing role of other terri- torial dimensions (material and non-material) according to the performance variable considered and during the crisis.

KW - Crisis

KW - NUTS-3 regions

KW - Territorial capital

UR - http://hdl.handle.net/10447/243978

M3 - Article

VL - 60

JO - THE ANNALS OF REGIONAL SCIENCE

JF - THE ANNALS OF REGIONAL SCIENCE

SN - 1432-0592

ER -