Abstract
ABSTRACT This paper evaluates the role of related variety in the industrial resilience of US counties against the 2008 economic shock. We use employment data on six-digit industries and measure industrial resilience by the extent to which a county maintained or improved entry rates of new industrial specializations in the post-crisis period of 2009–14 as compared with 2002–07. We find that metropolitan counties are more resilient than other types of areas. Related variety exhibits a strong positive effect on industrial resilience. This effect appears to be driven by intermediate and rural counties, which particularly benefit from related variety.
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