Research on the Characteristics of Economic Resilience under the Financial Crisis-Taking China as an Example

Research Article
Open access

Research on the Characteristics of Economic Resilience under the Financial Crisis-Taking China as an Example

Jinghan Xu 1*
  • 1 Dongbei University of Finance and Economics    
  • *corresponding author pici5202@163.com
Published on 13 September 2023 | https://doi.org/10.54254/2754-1169/24/20230430
AEMPS Vol.24
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-915371-91-1
ISBN (Online): 978-1-915371-92-8

Abstract

Since the financial crisis, there has been a second phase of global economic divergence. The context for global economic development has been worse due to the anti-globalization tendency and the predominance of trade protectionism. In the face of economic shocks, there are differentiated results for economic resilience among countries. Therefore, it is of great significance to study China's economic vitality against the background of the financial crisis. China's economy shows the negative adjustment effect of ownership structure. The relatively high proportion of state-owned enterprises weakens the promoting effect of economic complexity on regional economic resilience, and the weakening effect is more significant in inland areas. China's accelerated structural reform has increased the complexity of its economy. Therefore, this study focuses on the characteristics of economic resilience during the financial crisis, using China as an example. This paper uses the literature research method, the theoretical analysis method, and the case analysis method. In the context of the financial crisis, China's economic resilience has been fluctuating on an upward trend. But China still needs to adopt the economic measures it took to deal with the financial crisis.

Keywords:

financial crisis, characteristics of China's economic vitality, literature research, economic complexity

Xu,J. (2023). Research on the Characteristics of Economic Resilience under the Financial Crisis-Taking China as an Example. Advances in Economics, Management and Political Sciences,24,155-159.
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References

[1]. Bloch, H. (2018). Neo-Schumpeterian price theory with Sraffian and post-Keynesian elements. Journal of Evolutionary Economics, 28(5), 1035-1051.

[2]. Bhaduri, A. (2011). A contribution to the theory of financial fragility and crisis. Cambridge Journal of Economics, 35(6), 995-1014.

[3]. Centeno, M. A., Nag, M., Patterson, T. S., Shaver, A., & Windawi, A. J. (2015). The emergence of global systemic risk. Annual Review of Sociology, 41, 65-85.

[4]. Wang, G. J., Jiang, Z. Q., Lin, M., Xie, C., & Stanley, H. E. (2018). Interconnectedness and systemic risk of China's financial institutions. Emerging Markets Review, 35, 1-18.

[5]. Martin, R., Sunley, P., Gardiner, B., & Tyler, P. (2016). How regions react to recessions: Resilience and the role of economic structure. Regional Studies, 50(4), 561-585.

[6]. Bristow, G., & Healy, A. (2015). Crisis response, choice and resilience: insights from complexity thinking. Cambridge Journal of Regions, Economy and Society, 8(2), 241-256.

[7]. Ye, J., & Luo, X. (2022). A study on China’s cultural product export trade and its forecast based on hausmann’s export complexity. Wireless Communications and Mobile Computing, 2022, 1-6.

[8]. Xu, Y., & Warner, M. E. (2015). Understanding employment growth in the recession: the geographic diversity of state rescaling. Cambridge Journal of Regions, Economy and Society, 8(2), 359-377.

[9]. National Bureau of Statistics of China,http://www.stats.gov.cn/

[10]. Eraydin, A. (2016). Attributes and characteristics of regional resilience: Defining and measuring the resilience of Turkish regions. Regional Studies, 50(4), 600-614.

Cite this article

Xu,J. (2023). Research on the Characteristics of Economic Resilience under the Financial Crisis-Taking China as an Example. Advances in Economics, Management and Political Sciences,24,155-159.

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About volume

Volume title: Proceedings of the 2023 International Conference on Management Research and Economic Development

ISBN：978-1-915371-91-1(Print) / 978-1-915371-92-8(Online)
Editor：Canh Thien Dang, Javier Cifuentes-Faura
Conference website: https://2023.icmred.org/
Conference date: 28 April 2023
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.24
ISSN：2754-1169(Print) / 2754-1177(Online)

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References

[1]. Bloch, H. (2018). Neo-Schumpeterian price theory with Sraffian and post-Keynesian elements. Journal of Evolutionary Economics, 28(5), 1035-1051.

[2]. Bhaduri, A. (2011). A contribution to the theory of financial fragility and crisis. Cambridge Journal of Economics, 35(6), 995-1014.

[3]. Centeno, M. A., Nag, M., Patterson, T. S., Shaver, A., & Windawi, A. J. (2015). The emergence of global systemic risk. Annual Review of Sociology, 41, 65-85.

[4]. Wang, G. J., Jiang, Z. Q., Lin, M., Xie, C., & Stanley, H. E. (2018). Interconnectedness and systemic risk of China's financial institutions. Emerging Markets Review, 35, 1-18.

[5]. Martin, R., Sunley, P., Gardiner, B., & Tyler, P. (2016). How regions react to recessions: Resilience and the role of economic structure. Regional Studies, 50(4), 561-585.

[6]. Bristow, G., & Healy, A. (2015). Crisis response, choice and resilience: insights from complexity thinking. Cambridge Journal of Regions, Economy and Society, 8(2), 241-256.

[7]. Ye, J., & Luo, X. (2022). A study on China’s cultural product export trade and its forecast based on hausmann’s export complexity. Wireless Communications and Mobile Computing, 2022, 1-6.

[8]. Xu, Y., & Warner, M. E. (2015). Understanding employment growth in the recession: the geographic diversity of state rescaling. Cambridge Journal of Regions, Economy and Society, 8(2), 359-377.

[9]. National Bureau of Statistics of China,http://www.stats.gov.cn/

[10]. Eraydin, A. (2016). Attributes and characteristics of regional resilience: Defining and measuring the resilience of Turkish regions. Regional Studies, 50(4), 600-614.

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