RESILIENCE AND MIMETIC BEHAVIOR: ECONOMIC VISIONS IN THE GREAT RECESSION

ABSTRACT:The Great Recession was a moment of challenge for many regions and required that leaders reflect on their economic development strategies. Given the propensity of regions to adopt ideas and strategy “fads” that then inform policy debate, we seek to understand how two very different regions with different histories framed their responses to the recession. How did they conceptualize the economic challenge in their region? What did they envision as appropriate responses to this challenge? How did these visions relate to mimetic behavior of the past, in which largely uniform visions are adopted across diverse locations? Our findings show that economic development leaders in the Buffalo and Orlando regions advocated similar high-tech/biomedical strategies as a way to diversify their economies and make them more resilient or less vulnerable to future shocks. By conceptualizing economic diversification in such similar ways, despite substantial regional differences, this pursuit of resilience or decrease...