PROGRESS IN GEOGRAPHY ›› 2017, Vol. 36 ›› Issue (8): 986-994.doi: 10.18306/dlkxjz.2017.08.007

• Orginal Article • Previous Articles     Next Articles

Influencing factors of regional economic resilience in the 2008 financial crisis:A case study of Zhejiang and Jiangsu Provinces

Yuanyuan XU(), Chen WANG*()   

  1. School of Earth Sciences, Zhejiang University, Hangzhou 310027, China
  • Online:2017-08-31 Published:2017-08-28
  • Contact: Chen WANG;
  • Supported by:
    National Natural Science Foundation of China, No.41471101, No.41101112


Regions show different economic resilience after the 2008 financial crisis. However, there is no agreement on what factors impact regional economic resilience. In this study, we took Zhejiang and Jiangsu Provinces as an example and established a binary logistic regression model to analyze the influencing factors of regional economic resilience. Based on quantitative and qualitative analyses, we found that: (1) Regions with a higher level of innovation and a higher extent of unrelated variety and a larger proportion of small and medium-sized enterprises (SMEs) tended to have better resilience in the economic crisis. (2) Regions with a large amount of financial expenditure and a stronger dependence on international trade showed a relatively weak ability to resist crisis. (3) Related variety had limited influences on regional economic resilience. This study points out that the impact of fiscal expenditure on economic resilience and regional development cannot be generalized. We should give full considerations to the structure of fiscal expenditure. Moreover, it is necessary to pay more attention to regional environment and institutions to fully understand the positive influence of the proportion of SMEs on regional economic resilience. Local governments should encourage innovation and increase investment in research and development, develop a diversified industrial structure, provide more support to SMEs, and optimize fiscal expenditure structure.

Key words: international financial crisis, regional economic resilience, innovation, related variety, unrelated variety, Zhejiang Province, Jiangsu Province