Towards Human Resilience: Sustaining MDG Progress in an Age of Economic Uncertainty13 Oct 2011
The recent global economic crisis has reinforced significant concerns about the impact of financial and economic shocks on human development. The increasing frequency of such shocks raises important questions about their systemic character and the ability of developing countries to withstand the most damaging and lasting impacts of economic uncertainty. Indeed, vulnerability to macro-level shocks has the potential of significantly slowing progress towards MDGs and other development goals that have taken developing countries many years to achieve. This report addresses essential questions about economic vulnerability and resilience. Most significantly, it explores the following: How do macro-economic crises affect the world’s most vulnerable economies? What structural characteristics make some economies more susceptible to the harmful effects of such shocks? And what policies can help developing economies build resilience in the face of unpredictable economic change globally? In doing so, it identifies key structural determinants that shape how countries experience and adapt to economic and financial shocks while considering policies and practices that minimize susceptibility.