• Title/Summary/Keyword: Economic Resilience

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A Workable Framework or a Fuzzy Concept? The Regional Resilience Approach to the Evolution and Adaptability of Regional Economies

  • Cho, Cheol-Joo
    • World Technopolis Review
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    • v.3 no.2
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    • pp.66-77
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    • 2014
  • This paper aims at exploring a conceptual framework of analyzing the evolutionary processes of regional economies by reconciling the notion of regional resilience and the concepts prevailing in the disciplines of evolutionary economics and geography. The resilience framework appears to offer a promising outlet with which combination of the seemingly contradictory conceptions is made possible. It can address why some regions manage to adapt to external shocks, renew themselves, or lock out themselves, while others are more locked in decline. In addition, it can also explain how the spatial organization of economic production, distribution, and consumption is transformed over time. Then, regional economic resilience, together with its accompanying vehicle of panarchy, emerges as a workable framework of explaining regional differentiation in regional economic performance and trajectories. Despite the risk of being a fuzzy concept, the resilience conception can be properly operationalized to provide policy principles of regional economic innovation adjusted to region-specific contexts.

Identifying Factors Increasing and Decreasing Economic Resilience During COVID-19 Crisis

  • Zakharov, Vladimir Yakovlevich;Ludushkina, Elena Nikolaevna;Kornilova, Elena Valerievna;Kislinskaya, Marina Vladimirovna;Brykalov, Sergei Mikhailovich
    • International Journal of Computer Science & Network Security
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    • v.22 no.7
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    • pp.181-190
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    • 2022
  • The article contains an overview of the results of recent research by think tanks in different countries, devoted to the analysis of economic resilience factors in the Covid-19 crisis and the development of recommendations for improving preparedness for the next crises. The authors consider and propose a theoretical framework for the concept of the resilience of economic systems. The impact of the COVID-19 crisis on national economies is analyzed. Factors explaining the different cability of economic systems to withstand shock in the short and long term are identified. The reactions of market participants and national governments to the crisis are assessed. It is shown how the COVID-19 crisis has affected the digital transformation of economic systems, and how digital transformation helps to increase the resilience of national economies so that the latter can emerge from the crisis even stronger.

Factors Impacting on Tourism Resilience During the COVID-19 Pandemic: An Empirical Study from Vietnam

  • BUI, Trong Tien Bao;NGO, Thanh Phuong Quynh
    • The Journal of Asian Finance, Economics and Business
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    • v.9 no.1
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    • pp.213-218
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    • 2022
  • The study's goal is to determine how factors affecting tourism resilience during the COVID-19 pandemic affect Ho Chi Minh Tourism's ability to respond to changes and disruptions. The model and research hypotheses were tested using Multiple Regression Analysis Models. The statistical findings showed that the tourism resilience components have a significant influence on the tourism resilience in Ho Chi Minh city. The analyses revealed that tourism resilience consisted of four latent dimensions. There are 4 explanatory variables with a significance coefficient < 0.05. Therefore, the variables Economic resilience, Ecological resilience, Institutional resilience, and Social resilience all have a significant impact on tourist resilience, which is consistent with Jamaliah and Powell (2017). The findings have important managerial implications for local governments, as well as factors that contribute to tourism resilience, as they must attempt to adapt to changes and turbulences during a pandemic, ensuring that the tourism system rebounds in the future. The four components of tourist resilience are defined in the theoretical contribution. The findings of the study could serve as a starting point for developing future tourist resilience strategies. Because the application of tourist resilience theory is still relatively new, this study presents two theoretical and methodological contributions.

Community Empowerment Models of Tourism Village Based on Superior Commodities: Realizing Economic Resilience

  • Cahyono, Arie Eko;Kurniawan, Moh. Usman;Sukidin, Sukidin;Kantun, Sri
    • Journal of Distribution Science
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    • v.16 no.11
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    • pp.29-36
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    • 2018
  • Purpose - Research on community empowerment based on superior commodities to improve the economic resilience of the tourist village of Lumajang Regency is an investigative descriptive study to obtain an overview of the problems of community economic development, especially regarding economic resilience. The output of this research activity is the formation of integrated and comprehensive strategic programs and activities in order to improve economic empowerment and food security of the community around the tourist village. Research design, data, and methodology - This research method applies several methods of analysis such as the Loqation Quotion (LQ) method, SWOT analysis, Trend analysis, and analysis of Community Economic Empowerment in the agricultural sub-sector. Results - This research has strategic values and objectives in addition to providing important information to improve food security of tourism villages in Lumajang district in particular and disadvantaged communities in Indonesia in general. Through this supportive community economic empowerment programs, Lumajang District has an agricultural area and at the same time as a nature-based tourism area that supports it. Conclusion - Village tourism community empowerment activities are taken based on existing superior commodities. The existing tourism village program in Lumajang district can be used as one of the references for the upcoming tourism village program.

Mitigating the Shocks: Exploring the Role of Economic Structure in the Regional Employment Resilience

  • Kiseok Song;Ilwon Seo
    • Asian Journal of Innovation and Policy
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    • v.12 no.3
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    • pp.323-344
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    • 2023
  • This study investigates the resilient structural characteristics of a region by assessing the impact of the financial crisis. Utilizing panel data at the prefecture level for metropolitan cities across pre-shock (2006-2008), shock (2009), and post-shock (2010-2019) periods, we calculated an employment resilience index by combining the resistance and recovery indices. The panel logit regression measures the influences of the region's industrial structure and external economic factors in response to the global financial crisis. The results revealed that the diversity index of industries contributed to the post-shock recovery bounce-back. Additionally, the presence of large firms and industrial clusters within the region positively contributed to economic resilience. The specialization and the proportion of manufacturing industries showed negative effects, suggesting that regions overly reliant on manufacturing-centered specialization might be vulnerable to external shocks. Furthermore, excessive capital outflows for market expansion were found to have a detrimental impact on regional economic recovery.

Effects of Self-esteem on Nursing Students' Resilience (간호대학생의 자아존중감이 회복탄력성에 미치는 영향)

  • Kim, Jong Kyung;Yoo, Kyung Hee
    • Journal of muscle and joint health
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    • v.26 no.3
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    • pp.261-269
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    • 2019
  • Purpose: The purpose of this study was to examine the levels of self-esteem and resilience and to investigate factors affecting on the resilience among nursing students. Methods: The subjects for this study were 175 nursing students and the data were collected from November 15 to December 20, 2016. The data were analyzed using t-test, ANOVA, Pearson's correlation coefficients and multiple regression. Results: Subjects' mean scores of self-esteem and resilience were 3.60 and 3.78, respectively, on a 5-point scale. There were significant differences in the level of resilience among grade (F=3.30, p<.001). The post-hoc test showed that the resilience level of the fourth-grade subjects was significantly higher than that of the third-grade. There were no significant differences in the level of resilience according to gender, religion, residence type, and economic level. Self-esteem was positively correlated with resilience (r=.80, p<.001) and economic level (r=.20, p=.007). The results of the multiple regression analysis showed that self-esteem was a significant predictor for resilience (β=.81, p<.001) which explained 64.7% of the total variance. Conclusion: Self-esteem was an significant factor for nursing students' resilience. Therefore, intervention strategies should be developed for nursing students to improve their self-esteem.

Perceptions of the Relationship between Port Security Level, Resilience, Cargo Operational Performance, and Sustainability Performance among Korean Port Operators and Shipping Companies

  • Chan-Ho Kim;Sang-Gyun Choi;Sung-Ki Kim
    • Journal of Korea Trade
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    • v.27 no.3
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    • pp.65-86
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    • 2023
  • Purpose - As globalization progresses, complexity also increases, and various factors that threaten port functions are emerging. Accordingly, the demand for port security to prevent the crisis and resilience that quickly recovers its original function after the crisis is also increasing in port operations. However, few studies have examined how to ensure the port security and how the resilience affects operation performance of port and sustainability performance as well. So the study aims to find out how port security affects port resilience and port operational performance, and consequently, this two factors affect socioeconomic and environmental sustainability performance respectively and synthetically. Design/methodology - Confirmatory Factor Analysis (CFA) was first performed to determine the validity of the factors of model and hypothesis test was performed using Structural Equation Model (SEM) to analyze the Port Performance Model, which show the perception logic among port security level, port resilience, operation performance, and sustainability performance. In order to empirically analyze this model, total 264 respondents from port security operators, shipping companies in South Korea were surveyed. Findings - As result of SEM, First, port security level positively affected the resilience (H1) and cargo operational performance (H2) but not in both of the sustainability performances (H3, H4). Second, resilience positively affected only cargo operational performance (H5) and socio-economic sustainability performance (H7). Last, cargo operation performance positively affects the both of sustainability performances (H8, H9). Originality/value - It was confirmed that port security could improve cargo operational performance through ensuring port resilience and eventually increase the socio-economic sustainability. Therefore the study implies that careful integration and management of port security, port resilience, and sustainability are required, along with compromise on sustainable development goals in the social, economic, and environmental area among all stakeholders.

A Review of Critical Infrastructure Resilience Study as the Future Area of Geosciences (미래 자원환경지질 분야로서 국가기반시설 리질리언스 연구 동향 분석)

  • Yu, Soon-Young
    • Economic and Environmental Geology
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    • v.44 no.6
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    • pp.533-539
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    • 2011
  • Critical infrastructure resilience has been integrated in critical infrastructure protection in US after Department of Homeland Security recognized that protection, in isolation, is a brittle strategy. Here "resilience" is the system's ability to efficiently reduce both the magnitude and the duration of systemic impacts after hazards, and quantitatively assessed as a resilience cost. The resilience cost is the sum of systemic impacts and recovery efforts, and many case studies on resilience costs show that the recovery effort should be included in resilience assessment. This paper explains how the resilience cost is defined and quantified with a case study.

Theoretical Approaches to Regional Transformation: Path Dependence Theory and Regional Resilience Concept (경로의존론과 지역회복력 개념: 지역격차에 대한 새로운 이론적 접근)

  • Shin, Dong-Ho
    • Journal of the Economic Geographical Society of Korea
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    • v.20 no.1
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    • pp.70-83
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    • 2017
  • Traditionally, economic growth has been uneven over the space. It has also been true for the recovery from social and economic crisis in old industrial areas of the advanced economies. Even if many of such old industrial areas were seriously affected by de-industrialization, some areas have been showing progress, while others have not been so. While interpreting this phenomenon used to be a key issue in economics, main stream liberal economic theorists' explanation was uneven distribution of economic resources, such as raw materials, labour and money. However, some revolutionary economic theorists have brought in the concept of "history" in explaining the phenomenon. Path dependence theorists, for example, interpretate the emergence of different growth paths with the concept of historical accidents. This contrasts to the recent argument of the group of scholars suggesting the concept of "regional resilience," who argue that uneven growth and different growth paths are originated from different regional resilience. This paper introduces the backgrounds, characteristics and utilities of the two theories: path dependence theory and the concept of regional resilience.

The Impact of Industrial Clusters' Quality on the Production Resilience in the Global Crisis (글로벌 위기에서 산업 클러스터의 품질이 생산 탄력성에 미치는 영향)

  • Cho, Young Ju;Lee, Chang-geun;Yoo, Jun-Young;Kim, So-Young;Park, Hee-Jun
    • Journal of Korean Society for Quality Management
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    • v.52 no.2
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    • pp.287-301
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    • 2024
  • Purpose: This paper aims to verify the difference in production resilience between local clusters and regions without clusters before and after a major crisis. Furthermore, this paper aims to identify the clusters' quality factors that impact clusters' shock vulnerability and resilience. Methods: Utilizing open-source data from the US Cluster Mapping platform, this paper compares regions with industrial clusters to those without using the Differences-in-Differences (DID) estimator. It considers the regions with industrial clusters as a treatment group and others as the control group, comparing the period before and after the pandemic. Additionally, the paper examines which cluster factors make a difference in economic resilience during the crisis using Regression Discontinuity Design (RDD). Results: The study finds that regions with industrial clusters show higher production resilience compared to regions without clusters. Moreover, the number of establishments, annual payrolls, and employment can have a positive impact on resilience during the pandemic shock. Conclusion: Though clusters could be vulnerable during the global crisis, industrial clusters can contribute to regional economic development and production resilience in the long-term aspect. Thus, it is required to construct a high-quality local cluster and support it during the economic crisis in the long-term aspect.