engleski

Recession Impact on Regional Development

Recession affects the change in macroeconomic variables and is present in every sector of national economy. However, the impact of recession on the variables of regional economies and sectors within each region of the national economy is significantly different both in its direction and intensity in relation to changes in the national economy. The main distinguishing factor is the sectoral structure of regional economies. This paper examines the sectoral structure of the NUTS-2 regions in the Republic of Croatia and the impact of recession on different variables on a regional level. It also compares the differences in direction and intensity of the changes in individual regions in relation to a national average. This analysis will determinate existence of correlation between the structure of regional economies and the direction and intensity of the effects of recession. This analysis is limited to currently available data for the Republic of Croatia. Croatian Bureau of Statistics has not released data for the NUTS-2 level for the recession period of 2008-10.

regional development; recession

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