Table of Contents

Innovation, Global Change and Territorial Resilience

Innovation, Global Change and Territorial Resilience

New Horizons in Regional Science series

Edited by Philip Cooke, Mario Davide Parrilli and José Luis Curbelo

Localized creativity, small high-tech entrepreneurship, related innovation platforms, social capital embedded in dynamically open territorial communities and context-specific though continuously upgrading policy platforms are all means to face new challenges and to promote increased absorptive capacity within local and national territories. The contributors illustrate that these capabilities are much needed in the current globalized economy as a path towards sustainability and for creating new opportunities for their inhabitants. They analyse the challenges and development prospects of local/regional production systems internally, across territories, and in terms of their potential and territorial connectivity which can help exploit opportunities for proactive policy actions. This is increasingly relevant in the current climate, in which the balanced allocation of resources and opportunities, particularly for SMEs, cannot be expected to be the automatic result of the working of the market.

Chapter 15: Cities in Times of Economic Crisis: A Challenge for Local Governments

Manuel Perlo Cohen

Subjects: economics and finance, economics of innovation, industrial economics, regional economics, innovation and technology, economics of innovation, urban and regional studies, regional economics


Manuel Perló Cohen INTRODUCTION The global economic crisis, which began officially on 15 September 2008 with the bankruptcy of the investment bankers Lehman Brothers, has spread throughout a wide-ranging group of countries and regions of the world. It has penetrated rural areas and cities, has simultaneously taken over large metropolis and small urban centers, and has caused devastation in neighborhoods as well as in central districts. In short, it has spread over the most diverse geographies. However, the devastating effect of this phenomenon differs considerably between large regions, countries, cities and neighborhoods, when a comparative analysis of the particular effects of the crisis is performed. In the case of urban localities – this study’s central theme – we can identify cities whose main macroeconomic indicators (employment, production, investment, consumption, public-sector spending) have suffered considerable deterioration. However, we see at the same time, that some urban localities have been able to mitigate the most adverse effects, and still others have done enough to get out of the crisis and have found a sustained path for growth. There are many factors involved in such a variety of results and, although some of them are completely outside the control of the authorities in urban areas, others are related to their economic structure and financial situation, in addition to being related to the way that local governments have reacted to the crisis. One particular aspect is the way they have reduced the most negative effects possible and, in some cases, have carried out actions seeking recovery...

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