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The Centennial Resilience Index: Measuring Countries' Resilience to Shock

Author

Listed:
  • Jack Boorman

    (Emerging Markets Forum)

  • José Fajgenbaum

    (Centennial Group International and Emerging Markets Forum)

  • Hervé Ferhani

    (Centennial Group International and Emerging Markets Forum)

  • Manu Bhaskaran

    (Centennial Asia Advisors)

  • Drew Arnold

    (Centennial Group International and Emerging Markets Forum)

  • Harpaul Alberto Kohli

    (Centennial Group International and Emerging Markets Forum)

Abstract

At the Emerging Markets Forum in October 2010, initial results were presented from an exercise that attempted to measure the resilience of emerging market and developing countries (EMDCs) to deal with shocks to their economies. This paper updates, improves upon, and draws conclusions from that index. A key conclusion is that the Resilience Index appears to have the power both to identify economies that are heading to trouble and to identify the specific policy areas of weakness that lie behind their increasing vulnerablility. The Resilience Index can add to the tools of the economic surveillance process—at least as a device to help insure that weaknesses are surfaced, and that deeper analysis is conducted to assess those weaknesses and suggest corrective policies. It is clear from this analysis that building resilience—and making it a priority of policymakers—can pay high dividends. In particular, we show that the Resilience Index clearly demonstrates that emerging weaknesses in many economies were evident well before the global crisis and the crisis in Europe.

Suggested Citation

  • Jack Boorman & José Fajgenbaum & Hervé Ferhani & Manu Bhaskaran & Drew Arnold & Harpaul Alberto Kohli, 2013. "The Centennial Resilience Index: Measuring Countries' Resilience to Shock," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 5(2), pages 57-98, May.
    • Handle: RePEc:emf:journl:2013-resilience
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    References listed on IDEAS

    as
    1. Jack T. Boorman & André Icard, 2011. "Palais Royal Initiative—Reform of the International Monetary System: A Cooperative Approach for the 21st Century," Book Chapters, in: Jack T. Boorman & André Icard (ed.), Reform of the International Monetary System: The Palais Royal Initiative, edition 1, chapter 2, pages 7-26, Emerging Markets Forum.
    2. V. S. Sundararajan & Harpaul Alberto Kohli & Claudio Loser & Harinder Kohli & Adina Goldstein, 2008. "The 2008 FDS Index: Index of Financial Development and Stability," Other Working Papers fdsindex08, Emerging Markets Forum.
    3. Jack Boorman & José Fajgenbaum & Manu Bhaskaran & Harpaul Alberto Kohli & Drew Arnold, 2010. "The New Resilience of Emerging Market Countries: Weathering the Recent Crisis in the Global Economy," Papers Presented at Global Meetings of the Emerging Markets Forum 2010resilence, Emerging Markets Forum.
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    Citations

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    Cited by:

    1. Ifrim, Mihaela & Lazorec, Maria & Pintilescu, Carmen, 2022. "Assessing the economic resilience in central and eastern EU countries. A multidimensional approach," MPRA Paper 117912, University Library of Munich, Germany.
    2. José Fajgenbaum & Harpaul Alberto Kohli, 2016. "Resilience Index: A 2016 Update," Papers Presented at Global Meetings of the Emerging Markets Forum 2016resilience, Emerging Markets Forum.
    3. Theodore Ahlers & Harinder S. Kohli & Anil Sood, 2013. "Africa 2050," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 5(3), pages 153-213, September.
    4. Rezaei Soufi, Hojat & Esfahanipour, Akbar & Akbarpour Shirazi, Mohsen, 2022. "A quantitative approach for analysis of macroeconomic resilience due to socio-economic shocks," Socio-Economic Planning Sciences, Elsevier, vol. 79(C).
    5. Ramona Țigănașu, 2018. "An Overview Of The European Union Resilience Capacity: Scientific Limits And Methodological Aspects Related To Its Measurement," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 170-181, December.

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