Diversification policies to enhance the Fraser Valley's economic resilience

The Fraser Valley Region has a specialized economy in agriculture. Empirical studies in economic geography literature find that specialized regional economies are less resilient and hence, more susceptible to economic shocks. Thus, this capstone project highlights the need for the region to implement diversification policies to enhance its economy's resilience to economic shocks. This capstone project conducted a panel study of 157 Canadian regional economies in 2006 and 2011 to determine if diversified regional economies were more economically resilient. Supporting the findings in economic geography literature, this study found that Canadian regional economies that were more diverse were more resilient. Base on economic geography literature, expert interviews, a jurisdictional scan, and policy analysis, this capstone project identified and recommended that the Fraser Valley Regional District implement several diversification policies.