Economic Resilience and Vulnerability:
Case Study of OPEC Countries
|
|
|
|
Abstract: (4282 Views) |
This paper tries to introduce the concept of resiliency and economic vulnerability and introduce the indexes to measure it. Vulnerability is a structural characteristics of an economy that increases the weaknesses of a system during adverse exogenous shocks. Economic resilience is defined as the ability of the economy to resist in the face of shocks and to recover from them. In this paper, economic resilience and vulnerability index has estimated for OPEC countries over the period 2000-2013. The Index is based on the variables suggested by, Brigugilo et al (2008), Boorman et al (2013) and Angeon and Bates (2015). According to these results, Qatar, the UAE, Kuwait and Saudi Arabia have the highest level of the net resilience index. Angola, Libya, Algeria, Venezuela and Iraq have the least amount of the net resilience index. Other countries including Iran, Nigeria and Ecuador, the index is between the extreme ends. per capita GDP of the OPEC countries is directly related to economic resilience index, but has a reverse relationship with the vulnerability. |
|
Keywords: Economic Resilience, Vulnerability, OPEC Countries, Panel Data |
|
Full-Text [PDF 968 kb]
(2260 Downloads)
|
Type of Study: Research |
Subject:
Special Received: 2017/07/3 | Accepted: 2017/07/3 | Published: 2017/07/3
|
|
|
|
|
Add your comments about this article |
|
|