Iranian Journal of Trade Studies

Iranian Journal of Trade Studies

Evaluation and Analysis of the Economic Resilience Index Components in Oil and Non-Oil Developing Countries (1970-2022)

Document Type : Research Paper

Authors
Fatemeh saadat 1
rahman saadat 2
majid maddah 3
1 PhD student in International Economics, Department of Economics, Faculty of Economics, Management and Administrative Sciences, Semnan University, Semnan, Iran
2 Associate Professor of Economics, Department of Economics, Faculty of Economic and Administrative Sciences, Semnan University, Semnan, Iran.
3 Department of Economics, Faculty of Economic and Administrative Sciences, Semnan University, Semnan, Iran
10.22034/ijts.2025.2048120.4078
Abstract
.
Economic resilience is defined as the ability of an economy’s policies to withstand shocks and recover from their effects. This study examines the annual trends of the Economic Resilience Index in developing countries, emphasizing the differences between oil- and non-oil -dependent countries from 1970 to 2022. The analysis of the annual trend of the economic resilience index across its components (economic, social, governance, environmental, and peripheral) in all developing countries shows an upward trajectory, which indicates an improvement in economic resilience. However, the governance component has a downward trend, which suggests that lower political stability, rule of law, and corruption control, weaken the planning system and reduce economic resilience during crises.
Additionally, the results show that non-oil dependent countries generally have higher resilience across economic, governance, social, and environmental components compared to oil-dependent countries. On the other hand, oil-dependent countries have experienced more volatility and lower economic resilience due to their dependence on oil resources.
1. saadatrah@semnan.ac.ir
Keywords
Economic Resilience / Principal Component Analysis Method / Oil and Non
Oil Developing Countries

Subjects

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  • Receive Date 14 December 2024
  • Revise Date 11 February 2025
  • Accept Date 23 February 2025