Economic Crisis and the Resilience of Regions
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Economic Crisis and the Resilience of Regions

A European Study

Edited by Gillian Bristow and Adrian Healy

The economic crisis of 2008-9 heralded the most severe economic downturn in the history of the European Union. Yet not all regions experienced economic decline and rates of recovery have varied greatly. This has raised new questions about what factors influence the economic resilience of regions. This book presents the results of an Applied Research Project conducted within the ESPON 2013 Programme and provides a detailed analysis of what made some European regions more resilient to the crisis than others.
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Chapter 5: The economic crisis and North Estonia: a case study of rapid recovery

Uku Varblane and Urmas Varblane

Abstract

This chapter explores the effect of the 2008_09 crisis on the region of North Estonia. The region was hit very hard owing to its high openness and dependence upon foreign trade. However, a swift and decisive national policy response helped foster very rapid recovery, with a radical reduction of public expenditures and accelerated utilisation of EU funds particularly important factors.

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