Growth and Resilience

Koki Hirota and Keiichiro Yuasa
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Keiichiro Yuasa: Japan International Cooperation Agency, Governance and Peacebuilding Department

Chapter Chapter 4 in Introduction to Quality Growth, 2026, pp 73-111 from Springer

Abstract: Abstract This chapter reviews and discusses growth and resilience. Resilience is defined as the ability to withstand external shocks and recover from them, and as resilience increases, so does the sustainability of growth. Disasters, infectious diseases, and economic crises are representative examples of external shocks. While the pathways through which they affect growth differ, the magnitude of their impact is determined by a country’s inherent vulnerabilities and the resilience that can be cultivated through policy. One way to view resilience is through robustness, capacity, resource abundance, responsiveness, and ability to recover. A case study of medical infrastructure in response to COVID-19 is presented. The statistics show that disaster damage increases with economic development, suggesting that resilience efforts are insufficient. On the other hand, there is no consensus in empirical studies on the impact of disasters on growth. The chapter also examines financial crises, with several types discussed, including currency, balance of payments, debt, and banking. Multiple types of crises often occur simultaneously, and several arguments on the mechanisms of crisis occurrence are introduced. Policies to mitigate the impact of crises are discussed, drawing on examples from past experiences to improve country-level responses.

Keywords: External shocks; Resilience definition; Growth-disaster relation; Growth-infectious disease relation; Mechanism of financial crisis; Indicators of vulnerability (search for similar items in EconPapers)
Date: 2026
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DOI: 10.1007/978-981-95-6220-6_4

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