Current Methodological Approaches in Economic Resilience Analysis. Empirical Findings in the EaP Countries
Resilience is a complex concept that must be analysed from a systemic and multidimensional perspective. The academic literature has not provided a generally accepted methodology for the operationalisation and empirical measurement of resilience, generating various approaches. This chapter develops an analysis of the Eastern Partnership countries by creating an economic resilience capacity index and identifying the most important factors that influence the economic resilience capacity of these countries. The results show that Georgia has the highest economic resilience capacity, while Ukraine is the least economically resilient country in the region. The results of the estimations could lay the basis for the elaboration of analytical and predictive simulations regarding the capacity of a region to recover from shocks.
KeywordsEconomic resilience analysis Multivariate analysis Composite index Econometric models EaP countries
- Acemoglu, D., Johnson, S., & Robinson, J. (2004). Institutions as the Fundamental Cause of Long-Term Growth. In P. Aghion & S. N. Durlauf (Eds.), Handbook of Economic Growth (pp. 385–472). Boston: MIT Press.Google Scholar
- Annoni, P., & Dijkstra, L. (2013). EU Regional Competitiveness Index RCI 2013. Luxembourg: Publication Office of the European Union.Google Scholar
- Annoni, P., & Kozovska, K. (2010). EU Regional Competitiveness Index. Luxembourg: Publication Office of the European Union.Google Scholar
- Berkes, F., Colding, J., & Folke, C. (2003). Navigating Social-Ecological Systems: Building Resilience for Complexity and Change. Cambridge: Cambridge University Press.Google Scholar
- Di Caro, P. (2015). Testing and Explaining Economic Resilience with an Application to Italian Regions. Munich Personal RePEc Archive. Munich: University Library of Munich.Google Scholar
- Eicher, T., & Rohn, O. (2007). Institutional Determinants of Economic Performance in OECD countries – An Institutions Climate Index. CESifo DICE Report, 5(1), 38–49.Google Scholar
- Foster, K. A. (2006). A Case Study Approach to Understanding Regional Resilience. Working Paper 2007–08. California: University of California.Google Scholar
- Hill, E., Clair, T., Wial, H., Wolman, H., Atkins, P., Blumenthal, P., Ficenec, S., & Fiedhoff, A. (2010). Economic Shocks and Regional Economic Resilience. In M. Wier et al. (Eds.), Paper to Conference on Urban and Regional Policy and Its Effects: Building Resilient Regions (pp. 20–21). Washington, DC: Routledge.Google Scholar
- Huggins, R., Izushi, H., Davies, W., & Shougui, L. (2010). World Knowledge Competitiveness Index 2008. Centre for International Competitiveness. Cardiff: University of Wales Institute.Google Scholar
- Marciacq, F., & Flessenkemper, T. (2018). The European Union and Its Eastern Partners: Beyond the Limits of Current Approaches to Regional Cooperation. Eastern Partnership Reflection Forum. Retrieved from http://oefz.at/wp-content/uploads/2017/11/iai1802.pdf.
- Munda, G., & Nardo, M. (2005). Constructing Consistent Composite Indicators: the Issue of Weights. Luxembourg: Publication Office of the European Union.Google Scholar
- Ţigănaşu, R., Pascariu, G. C., & Baciu, L. (2014). Conditionalities in the Recovery Process of Economic Growth and Convergence in Central and Eastern European Countries. Transformations in Business and Economics, 13(3C (33C)), 389–409.Google Scholar
- Walker, B. H., Holling, C., Carpenter, S., & Kinzig, A. (2004). Resilience, Adaptability, and Transformability. Ecology and Society, 9(2).Google Scholar