Editorial- The Resilience Shift
It is All in the Partnership
Keywords:Resilience Shift, transformative growth, Public-Private Partnership, Business Continuity, disasters
Economic resilience is operative in three levels of macro (governments), meso (market mechanisms) and micro (individual agents/ businesses) (Chaiechi, 2022). Economic resilience can be achieved through either or both inherent and adaptive strategies. Inherent resilience is an ordinary ability to manage a crisis, and it is routinely provided through resource allocation. Adaptive resilience is generally the system's ability to maintain functionality after being shocked that is achievable on the basis of extra effort. Due to large degrees of interdependencies between economic sectors, adaptive resilience in one sector can be significantly affected by changes in adaptive capacities in another. Therefore, efforts to build economic resilience cannot be implemented only by governments and at the macro level.
Chaiechi, T. (2014a). The broken window: Fallacy or fact – A Kaleckian–Post Keynesian approach. Economic Modelling Volume 39, April 2014, Pages 195-203, https://doi.org/10.1016/j.econmod.2014.02.025
Chaiechi, T. (2014b). The economic impact of extreme weather events through a Kaleckian–Post-Keynesian lens: A case study of the State of Queensland, Australia. Economic Analysis and Policy Volume 44, Issue 1, March 2014, Pages 95-106, https://doi.org/10.1016/j.eap.2014.01.002
Chaiechi, T., Nguyen, T. (2021). Measuring urban economic resilience of two tropical cities, using impulse response analysis. Bulletin of Applied Economics, 2021, 8(1), 59-79, https://doi.org/10.47260/bae/814
Chaiechi, T. (2022). Foreword- Sustainable and resilient economies, theoretical considerations. In Chaiechi and Wood. Community Empowerment, Sustainable Cities, and Transformative Economies. Springer https://doi.org/10.1007/978-981-16-5260-8
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