We investigate the nexus between a deep fundamental (individual resilience) and exposure to the financial crisis using cross-country individual evidence from the European Social Survey on more than 25,000 individuals (in 19 countries and 64 regions) from 2006 to 2012. We find that average regional resilience is associated with a significantly lower exposure to income falls for households, and financial difficulties for the organizations where the survey respondent works. We also observe that household exposure to income falls is associated with a significant fall in resilience. If these two pieces of evidence hide causality links they imply that financial shocks enhance regional differences since lower ex-ante resilience increases household and corporate exposure to financial shocks which, in turn, weaken their resilience. As a consequence, financial shocks can widen differences in exposure to financial difficulties and resilience between stronger and weaker regions.

Becchetti, L., Bellucci, D., Pisani, F. (2024). The fittest survive: Regional resilience and exposure to financial crisis. INTERNATIONAL REVIEW OF ECONOMICS & FINANCE, 96 [10.1016/j.iref.2024.103652].

The fittest survive: Regional resilience and exposure to financial crisis

Becchetti L.;Bellucci D.;
2024-01-01

Abstract

We investigate the nexus between a deep fundamental (individual resilience) and exposure to the financial crisis using cross-country individual evidence from the European Social Survey on more than 25,000 individuals (in 19 countries and 64 regions) from 2006 to 2012. We find that average regional resilience is associated with a significantly lower exposure to income falls for households, and financial difficulties for the organizations where the survey respondent works. We also observe that household exposure to income falls is associated with a significant fall in resilience. If these two pieces of evidence hide causality links they imply that financial shocks enhance regional differences since lower ex-ante resilience increases household and corporate exposure to financial shocks which, in turn, weaken their resilience. As a consequence, financial shocks can widen differences in exposure to financial difficulties and resilience between stronger and weaker regions.
2024
Pubblicato
Rilevanza internazionale
Articolo
Esperti anonimi
Settore ECON-01/A - Economia politica
English
Resilience
Financial crisis
Financial difficulties
Becchetti, L., Bellucci, D., Pisani, F. (2024). The fittest survive: Regional resilience and exposure to financial crisis. INTERNATIONAL REVIEW OF ECONOMICS & FINANCE, 96 [10.1016/j.iref.2024.103652].
Becchetti, L; Bellucci, D; Pisani, F
Articolo su rivista
File in questo prodotto:
File Dimensione Formato  
BECCHETTI_FITTEST-SURVIVE.pdf

accesso aperto

Descrizione: paper completo
Licenza: Non specificato
Dimensione 8.85 MB
Formato Adobe PDF
8.85 MB Adobe PDF Visualizza/Apri
abstract fittest IREF.docx

accesso aperto

Descrizione: abstract
Licenza: Non specificato
Dimensione 12.36 kB
Formato Microsoft Word XML
12.36 kB Microsoft Word XML Visualizza/Apri

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/2108/394530
Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus 0
  • ???jsp.display-item.citation.isi??? 0
social impact