Analysis of Economic Resilience: How Different Economies Bounce Back from Shocks

International Journal of Economics and Management Studies

© 2024 by SSRG - IJEMS Journal

Volume 11 Issue 5

Year of Publication : 2024

Authors : Ishnoor Singh, Ceyhun Elgin

10.14445/23939125/IJEMS-V11I5P102

How to Cite?

Ishnoor Singh, Ceyhun Elgin, "Analysis of Economic Resilience: How Different Economies Bounce Back from Shocks," SSRG International Journal of Economics and Management Studies, vol. 11,  no. 5, pp. 6-15, 2024. Crossref, https://doi.org/10.14445/23939125/IJEMS-V11I5P102

Abstract:

The world is characterized by three types of economic frameworks- Centrally planned, Mixed and Market. Irrespective of the type of economic framework followed, every country is susceptible to economic shocks, which are disturbances in an ongoing economic process. This research paper explores the relationship between the type of economic framework that a country follows and its economic resilience. Although several studies have been carried out analyzing country-specific economic recovery after an economic shock, there remains a gap in understanding the influence of economic framework in the process. Given the current level of global interdependence, understanding the resilience of different economies to an economic shock is imperative for government officials and professionals in the field of economics. The research conducted dives into understanding the reaction of various economic frameworks in times of crisis.

Keywords:

Economic frameworks, Economic recovery, Economic shock, Resilience.

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