The research on the location choice for Foreign Direct Investment (FDI) is traditionally restricted to a choice between countries. The within-country location choice is less prominent in the literature. If within-country location decisions are considered it is mostly limited to Greenfield...

Using a rich data set on the EU regions, we analyze the relevance of two possible determinants of a region's resilience to shocks, the degree of urbanization and specialization. We take the Great Recession, the economic and financial crisis that started in 2008, as our shock and then analyze how...