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Profiling Vulnerability and Resilience

A Manual for Small States

image of Profiling Vulnerability and Resilience
Profiling Vulnerability and Resilience: A Manual for Small States provides a tool for assessing both how prone a country is to external economic shocks – its vulnerability – as well as its ability to bounce back from those shocks – its resilience.



The book explains how to conduct assessments that will allow each country to understand its relative vulnerability and resilience, and to identify priority areas for economic policy-making, so as to better cope with vulnerability and boost resilience. Detailed examples are provided for St Lucia, Seychelles and Vanuatu.



For economic planners, as well as students of the economies of small states.

English

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St Lucia: A country profile of economic vulnerability and economic resilience

This report presents a profile of the economic vulnerability and economic resilience of St Lucia. Economic vulnerability is defined as the exposure of an economy to harmful external economic shocks that are outside the economy’s control, typically resulting from high degrees of economic openness and dependence on a narrow range of exports. Economic resilience is refers to policy-induced ability of an economy to withstand and rebound from the negative effects of such shocks. In this report, such resilience is associated macroeconomic stability, market efficiency, good political governance, social development and good environmental management, as explained in Briguglio et al. 2006, 2009). Economic vulnerability and insufficient resilience typically lead to a slower and more volatile pattern of economic development (Cordina 2004a, 2004b).

English

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