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The economic crisis of 2008‒09 heralded the most severe economic downturn in the history of the European Union (EU). However, not all regions experienced economic decline, and rates of recovery have varied greatly. Whilst some places experienced a swift return to pre-crisis levels of employment and economic output, for others the process has proved to be much more protracted, with many economies entering a period of sustained stagnation. It is only now, a decade after the first signs of the impending economic crisis emerged, that we even begin to have the data to fully understand how this has affected the various regional economies of the EU. The tenth anniversary of the crisis thus represents a timely point to assess the impact of the crisis, its geography and the varying capacities of regions to cope with and recover from its effects. This differentiated experience raises important questions as to why some regions prove to be more able to withstand economic shocks than others, and what influences their ability to recover. As such, it has led to an interest in the concept of economic resilience, both amongst academic researchers and policy-makers as well as in the popular press. This increasing interest in the resilience of economies to shocks and crises raises its own questions: what do we actually mean when we speak about a resilient economy? What is it that makes some economies more resilient to economic shocks than others? And significantly, how might policy-makers, particularly at regional and local levels, influence the scope for their territory to be resilient to economic shocks? This book seeks to address these questions through exploring the results of detailed research undertaken on the economic resilience of regions across European regions between 2012 and 2014. This research was undertaken as part of an Applied Research Project conducted within the framework of the ESPON 2013 Programme, and partly financed by the European Regional Development Fund.

Introduction: economic crisis and resilience in the European Union