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REGIONAL RESILIENCE OF RUSSIA TO ECONOMIC SHOCKS AND CRISIS
Abstract
Consequences of resent economic crises and economic resilience of administrative-territorial units of Russia are considered. We define resilience as the ability of a regional economy to withstand, absorb or overcome internal or external economic shock. We have chosen to use the gross regional product, employment rate and percent of population with incomes lower then living wage as primary indicators of resilience. All territories are divided into four types in accordance with their ability to withstand shock or recover from initial decline. A number of factors that may be associated with observed levels of resilience: sectoral composition and export-orientation of regional economies, urbanization level, and availability of adaptive workforce with higher levels of skills and qualification, is considered. The findings can support policy-makers at different administrative levels in making the economic structures in Russian Federation and its regions more resilient to economic crises and a sudden economic downturn.
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