Correlation Analysis and Model of the Regional Economic Resilience

Abstract

Some regions can be described as more or less resilient to the economic recession from the position of resilient theory perspective. The aim of this paper is to suggest model involving determinants explaining the resilience and thus contributes to the understanding of this concept and to effective decisions about appropriate instruments of regional policy. A group of indicators that could be useful as determinants of regional economic resilience was suggested. The analytic part of this work is created upon the NUTS 2 regional data sets and reflects the impacts of the 2008 economic crises. The main methodological attitude is processed by the correlation analysis and decision tree. The designed model is discussed with regards on operational programs in the terms of the EU’s Cohesion Policy. The results of the analyses confirm that Human Capital, Regional Economic Performance, Innovation and R&D Activity, Labor Market and Economic Structure of Region are very important determinants.