Coping with Adversity

Regional Economic Resilience and Public Policy

By: Harold Wolman, Howard Wial, Travis St. Clair, Edward Hill

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eBook | 2 October 2017

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278 Pages

Age
18+

Dimensions(cm)
22.86 x 15.24

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Coping with Adversity addresses the question of why some metropolitan-area regional economies are resilient in the face of economic shocks and chronic distress while others are not. It is particularly concerned with what public policies make a difference in whether a region is resilient. The authors employ a wide range of techniques to examine the experience of all metropolitan area economies from 1978-2014. They then look closely at six American metropolitan areas to determine what strategies were employed, which of these contributed to regional economic resilience, and which did not. Charlotte, North Carolina, Seattle, Washington, and Grand Forks, North Dakota, are cases of economic resilience, while Cleveland, Ohio, Hartford, Connecticut, and Detroit, Michigan, are cases of economic nonresilience. The six case studies include hard data on employment, production, and demographics, as well as material on public policies and actions.

The authors conclude that there is little that can done in the short term to counter economic shocks; most regions simply rebound naturally after a relatively short period of time. However, they do find that many regions have successfully emerged from periods of prolonged economic distress and that there are policies that can be applied to help them do so. Coping with Adversity will be important reading for all those concerned with local and regional economic development, including public officials, urban planners, and economic developers.

Industry Reviews

"One of this year's most important books on economic development.... Coping with Adversity offers an opportunity for economic developers to assess the factors affecting the resiliency of their region's economy. In a world where we are continuously captivated by the next big thing and quick to celebrate the groundbreaking of stadiums or factories as transformational, the findings of this book are humbling."