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Weak ties and adaptive resilience of regional economy: evidence from networks in the South Korean automobile industry

Weak ties and adaptive resilience of regional economy: evidence from networks in the South Korean... Regional economic resilience is the ability of the regional economy to hold out when there is an economic shock. Interconnectedness between actors in a regional economy is a crucial factor in regional economic resilience, especially for the adaptive resilience. However, extant studies have analyzed the overall regional resilience competencies in terms of advanced technology, productivity input factors (human and physical capital), and agglomeration economies. This study aims to operationalize the concept of the regional economy’s network characteristics and empirically analyze the relationship between network characteristics and the resilience of regional economy. We posited the hypotheses on the relationship between the network characteristics of regional industrial ecosystems and resilience. We use the automobile parts yearbook of the South Korea Automobile Association from 1997 to 2019. We built automobile industry transaction data by digitalizing the paper-based records. It operationalized the concept of weak tie using modularity and skewness. As a result, an economic ecosystem with weak ties showed better performance in economic resilience. This study argues that the regional industrial ecosystem is an important, but neglected, factor for the sustainable development of the regional economy. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Annals of Regional Science Springer Journals

Weak ties and adaptive resilience of regional economy: evidence from networks in the South Korean automobile industry

Cho, Mikyoung; Kang, Myounggu
The Annals of Regional Science , Volume OnlineFirst – Apr 28, 2023
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References (46)

Publisher
Springer Journals
Copyright
Copyright © The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature 2023. Springer Nature or its licensor (e.g. a society or other partner) holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law.
ISSN
0570-1864
eISSN
1432-0592
DOI
10.1007/s00168-023-01218-1
Publisher site
See Article on Publisher Site

Abstract

Regional economic resilience is the ability of the regional economy to hold out when there is an economic shock. Interconnectedness between actors in a regional economy is a crucial factor in regional economic resilience, especially for the adaptive resilience. However, extant studies have analyzed the overall regional resilience competencies in terms of advanced technology, productivity input factors (human and physical capital), and agglomeration economies. This study aims to operationalize the concept of the regional economy’s network characteristics and empirically analyze the relationship between network characteristics and the resilience of regional economy. We posited the hypotheses on the relationship between the network characteristics of regional industrial ecosystems and resilience. We use the automobile parts yearbook of the South Korea Automobile Association from 1997 to 2019. We built automobile industry transaction data by digitalizing the paper-based records. It operationalized the concept of weak tie using modularity and skewness. As a result, an economic ecosystem with weak ties showed better performance in economic resilience. This study argues that the regional industrial ecosystem is an important, but neglected, factor for the sustainable development of the regional economy.

Journal

The Annals of Regional Science – Springer Journals

Published: Apr 28, 2023

Keywords: R12; R30; P25; L14

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