Measuring regional resilience to economic shocks by index

The article deals with the analysis of the theoretical and practical aspects of measuring regional resilience to economic shocks. While the concept of regional resilience to economic shocks is still at the development stage, and the method of measuring regional resilience, which is grounded methodologically and is generally accepted, is still missing, the article presents a unique approach of the authors to the concept of regional resilience to economic shocks including the elaboration of the definition of regional resilience to economic shocks, the description of the capabilities to determine the regional resilience in the Resilio model, the specification of their quantitative and qualitative characteristics, and the introduction of the index of the resilience of regions to economic shocks (Resindicis). The rapid development of the globalization processes poses new challenges to the instruments of economic analysis and strategic planning. Different techniques can be used for obtaining the required information on building the regional resilience-enhancing strategies. Each of them has its own advantages and disadvantages. In order to find out the strengths and the weaknesses of measuring resilience by Resilio, the newly developed index was empirically tested with regard to the data of 10 Lithuanian districts in the period of 2006-2015. The assessment results, as well as the advantages and disadvantages of using the Resilio model are presented in this article. The newly developed Resindicis, introduced in the article, represents an objective for having a convenient tool which could be used for economic analysis, strategic planning and justification of solutions aimed at enhancing regional resilience.