Lino Briguglio|Gordon Cordina|Nadia Farrugia|Sandro Vella
Economic Vulnerability and Resilience: Concepts and Measurements
University of Malta|University of Malta|University of Malta|University of Malta
paper economic vulnerability defined exposure economy exogenous shocks arising economic openness economic resilience defined policyinduced ability economy withstand recover effects shocks paper briefly reviews work already carried economic vulnerability extends research towards development conceptual methodological framework definition measurement economic resilience towards end paper proposes index economic resilience gauging adequacy policy four broad areas namely macroeconomic stability microeconomic market efficiency good governance social development analysis economic resilience explains small economies attain relatively high level gross domestic product per capita adopt appropriate policy stances words relatively good economic performance number small states spite small size inherent economic vulnerability results study used tool towards formulation policies aimed overcoming adverse consequences economic vulnerability