University of Malta. Islands and Small States Institute
Abstract
This paper develops a conceptual and methodological framework for the analysis
and measurement of economic resilience. The working definition of economic resilience adopted
in this paper is the "nurtured" ability of an economy to recover from or adjust to the effects of
adverse shocks to which it may be inherently exposed. This concept is used to provide an
explanation as to why a number of inherently vulnerable countries have attained relatively high
levels of GOP per capita. The paper also presents a tentative approach aimed at developing an
index of economic resilience covering four aspects namely macroeconomic stability,
microeconomic market efficiency, governance and social development.peer-reviewe
