Volume 8, Issue 31 (6-2018)                   jemr 2018, 8(31): 197-227 | Back to browse issues page

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taherpoor ـ. The Impact of Economic Resilience and Vulnerability on Labor Productivity. jemr. 2018; 8 (31) :197-227
URL: http://jemr.khu.ac.ir/article-1-1517-en.html
Abstract:   (976 Views)
Economic vulnerability shows the exposure of the economy to exogenous shocks and deviations from the path of growth and development. On the other hand, the resilience of the economy is the ability to recover the mentioned path of growth and development. Therefore, these two factors determine the level of welfare of the economy. Since the production factor productivity is the most important variables in determining the level of welfare of the economy, it is important to be measured the taking effect of the economic productivity from economic vulnerability and resilience. Therefore, in the this study, with employing the Panel GMM method for the period 2005-2014 and for eighteen oil-rich countries, the impact of economic vulnerability and resilience on labor productivity has been considered. The results of this study show that economic resilience has the significant and positive effect while the economic vulnerability has the significant and negative effect on the productivity of labor factor of production. Oil-rich countries, especially Iran, should be focused on reducing their economic vulnerability. To reduce economic vulnerability, shifting from single-product economy to export-diversified economy and reduce dependence on strategic goods will be suggested. To improve economic resilience, focusing on macroeconomic stability, improving institutional quality, improving the structure of markets, and improving human capital will be recommended. It is clear that these policy-induced recommendations would be so hard, but failing to achieve them, it leads to the bitter experiences such as decline in oil revenues, especially the sanction conditions.
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Type of Study: Applicable | Subject: رشد و توسعه و سیاست های کلان
Received: 2016/12/12 | Accepted: 2018/05/8 | Published: 2018/06/13

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