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Coping with Adversity
Regional Economic Resilience and Public Policy
Harold Wolman (Author), Howard Wial (Author), Travis St. Clair (Author), Edward Hill (Author)
9780801478543
Paperback / softback, published 15 November 2017
278 pages, 7 charts - 7 Charts
22.9 x 15.2 x 1.9 cm, 0.454 kg
These excellent academic researchers from George Washington, New York, and Ohio State Univ. and the Univ. of Illinois at Chicago explore the critical question of why some metropolitan areas deal with economic adversity better than others. One of this year's most important books on economic development.... Coping with Adversity offers an opportunity for economic developers to assess the factors affecting the resiliency of their region's economy. In a world where we are continuously captivated by the next big thing and quick to celebrate the groundbreaking of stadiums or factories as transformational, the findings of this book are humbling. These findings should provoke thought, but the case studies serve to debunk (although the authors do not put it this way) many economic development cliches. An ambitious and sophisticated application of the concept of resilience to regional economic development.
Coping with Adversity addresses the question of why some metropolitan-area regional economies are resilient in the face of economic shocks and chronic distress while others are not. It is particularly concerned with what public policies make a difference in whether a region is resilient. The authors employ a wide range of techniques to examine the experience of all metropolitan area economies from 1978–2014. They then look closely at six American metropolitan areas to determine what strategies were employed, which of these contributed to regional economic resilience, and which did not. Charlotte, North Carolina, Seattle, Washington, and Grand Forks, North Dakota, are cases of economic resilience, while Cleveland, Ohio, Hartford, Connecticut, and Detroit, Michigan, are cases of economic nonresilience. The six case studies include hard data on employment, production, and demographics, as well as material on public policies and actions. The authors conclude that there is little that can done in the short term to counter economic shocks; most regions simply rebound naturally after a relatively short period of time. However, they do find that many regions have successfully emerged from periods of prolonged economic distress and that there are policies that can be applied to help them do so. Coping with Adversity will be important reading for all those concerned with local and regional economic development, including public officials, urban planners, and economic developers.
Acknowledgments
Introduction
1. Shocks and Regional Economic Resilience
2. Chronic Distress and Regional Economic Resilience
3. Regions That Lacked Resilience
4. Resilient Regions
5. Assessing the Effect of Resilience Policies Directed toward Business and Individuals
6. Assessing the Effect of Reslience Policies Directed toward Public Goods, Institutions, and Leadership
Conclusion
Appendices
Notes
References
Index