Economic Resilience and the State: A Global Panel Analysis

• Autorzy: Cristian Paun , Radu Isaic , Gheorghe Cosmin Manea , Hezi Shayb
• Języki publikacji: EN

Abstrakty

EN

Modern economies are disturbed by recessions that have become more and more globalized, much contagious between countries and regions, and with higher negative impacts during recessions. In this dynamic context, the recovery after the recession is essential to prepare the economy for the next business cycle. Understanding these business cycles (their causes and impact) is fundamental for public policies that should avoid being pro-cyclical and adding more vulnerabilities to the existing economic downturns. Economic resilience is now a key concept in the economic literature. It refers to the capacity of the economy to recover after a recession. This paper aims to explore the relationship between the dimension of the state and the resilience of the economic system by using global panel data. The study includes 87 countries (870 observations) and data covering 2009 - 2019 provided by World Bank. We used two dependent variables: GDP gap and GDP per capita gap, and 12 explanatory variables grouped in 4 categories (the dimension of the state, the quality of public governance, the economic development, and the regional/global economic dependence). The results are robust and significant. They confirm that the dimension of the public intervention and the quality of the public governance and administration have a clear impact on the economic resilience and the ability to recover from business cycles. (original abstract)

Słowa kluczowe

EN

Business cycles; Resistance to crisis; Panel studies

PL

Cykl koniunkturalny; Odporność na kryzys; Badania panelowe

• Czasopismo: Economics, Management and Sustainability
• Rocznik: 2021
• Tom: 6
• Numer: nr 2
• Strony: 34--45

Twórcy

autor

Cristian Paun

• Bucharest University of Economic Studies, București, Romania

autor

Radu Isaic

• Bucharest University of Economic Studies, București, Romania

autor

Gheorghe Cosmin Manea

• Bucharest University of Economic Studies, București, Romania

autor

Hezi Shayb

• Bucharest University of Economic Studies, București, Romania

Bibliografia

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Identyfikatory

DOI

https://doi.org/10.14254/jems.2021.6-2.3