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- Title
The Role of Initial Conditions in Post-Great Recession Recovery and Development: Single-County MSAs.
- Authors
Adkisson, Richard V.; LaPlue, Lawrence D.; Sroka, Christopher J.
- Abstract
This article studies the impact of initial (circa 2009) socioeconomic conditions on post-Great Recession economic development/recovery. The units observed are 145 single-county metropolitan statistical areas in the lower 48 American states. Principal components analysis is used to construct a four-dimensional index representing economic development/recovery over 2009 to 2016. Variables in five categories—education/human capital, general socioeconomic/demographic conditions, industrial structure, public policy, and regional variables—are used to explain variation in the economic development index. The estimates indicated that approximately two thirds of the variation in post-recession economic development can be explained using only initial conditions.
- Subjects
STANDARD metropolitan statistical areas; PRINCIPAL components analysis; ECONOMIC development; RECESSIONS; GOVERNMENT policy
- Publication
Economic Development Quarterly, 2020, Vol 34, Issue 1, p64
- ISSN
0891-2424
- Publication type
Article
- DOI
10.1177/0891242419894375