Open Access Article SciPap-888
Economic Regional Resilience and Measuring Complexity: Example of Europien Regions
by Ondřej Svoboda 1,*, Martin Ibl 2 iD icon and Markéta Břízková 3

1 Faculty of Economics and Administration, University of Pardubice, Studenská 95, Pardubice 53210, Czechia

2 Faculty of Economics and Administration, University of Pardubice, Studenská 95, Pardubice 53210, Czechia

3 Faculty of Economics and Administration, University of Pardubice, Studenská 84, Pardubice 53210, Czechia

* Authors to whom correspondence should be addressed.

Abstract: This study aims to validate the relationship between the degree of complexity (e.g. the degree of chaos) in regional time series and economic resilience. The analysis builds on previous studies that tried to prove the relationship between Lyapunov exponent and regional resilience. Unlike previous empirical research, the goal of our investigation is to verify the usefulness of selected indexes of complexity for quantifying regional resilience in the context of the economic crisis of 2008. The research questions formulated in other studies quietly anticipated the existence of stochastic dependence between the degree of complexity and sensitivity of the region to the economic downturn. We will describe an empirical application, in which the resilience of the regional labour market at the level NUTS 2 from 12 EU’s countries in the period 1998 - 2014 is going to be investigated by use of an algorithm for business cycle detection and method for complexity measurement. The results suggest that the relationship between the regional resilience and the degree of complexity depends on the selection of the appropriate measure of complexity. In this work has been analysed the relationship of regional resilience with Lyapunov exponent and the generalised Hurst exponent.

Keywords: Complexity, Resilience, Engineering Resilience, Ecological Resilience, Evolutionary Resilience, Spatial Economics

JEL classification:   B52 - Historical • Institutional • Evolutionary,   O18 - Urban, Rural, Regional, and Transportation Analysis • Housing • Infrastructure,   R10 - General,   R11 - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

SciPap 2017, 25(3), 888

Received: 1 September 2016 / Accepted: 23 October 2017 / Published: 5 December 2017