The role of the service sector in regional economic resilience

The ability of regional economies to adjust their temporal dynamics to changing circumstances is a phenomenon recently included within the concept of resilience. This paper attempts to verify whether the relative weight of the service sector in the production structure of Spanish regions has a decis...

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Bibliographic Details
Published in:The Service industries journal 2012-03, Vol.32 (4), p.571-590
Main Authors: Navarro-Espigares, José Luis, Martín-Segura, José Aureliano, Hernández-Torres, Elisa
Format: Article
Language:English
Subjects:
economic crises
Economic crisis
Economic recovery
economic resilience
regional economy
Service industries
Studies
Time series
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Summary:The ability of regional economies to adjust their temporal dynamics to changing circumstances is a phenomenon recently included within the concept of resilience. This paper attempts to verify whether the relative weight of the service sector in the production structure of Spanish regions has a decisive influence on their reaction to the economic crisis. To test the hypothesis about the influence of the service sector in Spanish regional economic resilience, we use a time series of gross value added and employment for the 17 Spanish regions during the period 1986-2009. Besides the descriptive analysis, we utilise Time Series Regression with ARIMA Noise, Missing Observations and Outliers to forecast the evolution of series in 2010.
ISSN:0264-2069
1743-9507
DOI:10.1080/02642069.2011.596535