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RESILIENCE INDICATORS FOR MEASURING SUSTAINABLE ECONOMIC DEVELOPMENT

Year 2017, Volume: 4 Issue: 2, 35 - 48, 30.04.2017

Abstract

The aim of this paper is to address to research the consistent patterns of the sustainable
development of socio-economic systems. Theoretical explanation of this hypothesis has empirical
verification by means of the research of the socio-economic system behavior of Ukraine. The analysis
results of the systems of differential equations (the analogue the Lotka–Volterra equations) and the
transformation of the phase space in the temporal mode for individual products indicate the possibility
of existence of periodic fluctuations of output, means of production (commodity X) and consumption
goods (commodity Y). The paper proposes to identify the resilience indicators for measuring
sustainable economic development. Methodical recommendations on forecasting of changes trends in
the "ecological" concept of resilience are tested focusing on depending on the level of the index postshock
recovery

References

  • ABUAF, N. and JORION, P., 1990, Purchasing Power Parity in the Long Run, Journal of Finance, 45, 157–174. ADLER, M. and LEHMAN, B., 1983, Deviations From Purchasing Power Parity in the Long Run, Journal of Finance, 38, 147-87.
  • ARROW, K., DEBREU, G. ,1954, Existence of Equilibrium for a Competitive Economy. Econometrica, 22(3), 265-290. DOI: 10.2307/1907353
  • AUGUSTINE, N., WOLMAN, H., WIAL, H., MCMILLEN, M., 2013, Regional Economic Capacity, Economic Shocks and Economic Resilience. MacArthur Foundation Network on Building Resilient Regions, Working Paper May, Institute of Government Studies, University of California, Berkeley.
  • BORGHESI, S., COSTANTINI, V., CRESPI F., MAZZANTI M., 2013, Environmental Innovation And Socio Economic Dynamics in Institutional and Policy Contexts. Journal of Evolutionary Economics, 23(2), 241-245. DOI 10.1007/s00191-013-0309-5
  • BURLUTSKI, S., BURLUTSKI, SV., 2015, The «Resources Curse» and Special Features of the Economic Growth in Ukraine. Journal of Life Economics, 3(1), 21-26. DOI dx.doi.org/10.15637/jlecon.64
  • BURLUTSKI, S., BURLUTSKI, SV., 2016, The Socio-economic Development of Ukrainian Economy: «Resources Curse» Phenomenon, in Berezin A. and Bezpartochnyi M.(eds), Formation Strategy of Economic Structures: the Tools and Practices. Riga: Landmark SIA, pp. 25-35.
  • CERRA, V., PANIZZA, U., SAXENA, S., 2009, International Evidence on Recovery Consumption. Ecological Economics, 42, 273–287.
  • DEBREU, G., 1959, Theory of Value: an Axiomatic Analysis of Economic Equilibrium. New York, Wiley.
  • FRIEDMAN, M., 1993, The ‘Plucking Model of Business Fluctuations Revisited. Economic Inquiry, 31(2), 171-177. DOI: 10.1111/j.1465-7295.1993.tb00874.x
  • HELTBERG, R., SIEGEL P., JORGENSEN S., 2009, Addressing Human Vulnerability to Climate Change: Toward 'No Regrets' Approach. Global Environmental Change, 19(1), 89-99. DOI:10.1016/j.gloenvcha.2008.11.003
  • HICKS, J.R., 1950, Contribution to the Theory of the Trade Cycle. Oxford : Clarendon Press.
  • KNUDSEN, E., 2011, Shadow of Trouble: The Effects of Pre-Recession Characteristics on the Severity of Recession Impact. Institute for Research in Economics and Business Administration Bergen, Working Paper No. 19/11.
  • KOVALEV, V., BURLUTSKIY, S., BURLUTSKA, SV., 2017, The «Resources Curse» Phenomenon in Context of Socio-Economic Transformation of Ukrainian Economy, in Głowski, P. and Kvilinskyi O. (eds), Economic Transformation in Ukraine: Comparative Analysis and European Experience. Warsaw: Consilium Sp. z o.o., pp.147–155.
  • KYDLAND, F., PRESCOTT, E., 1982, Time to Build and Aggregate Fluctuations. Econometrica, 50(6), 1345-1370. DOI: 10.2307/1913386
  • MARHASOVA, V., 2011, Theoretical & Methodological Grounds for Region's Economic Security Maintenance. Actual Problems of Economics, 124, 186-193.
  • MARTIN, R., 2014, Path Dependence and the Spatial Economy: A Key Concept in Retrospect and Prospect, in Fischer, M. M. and Nijkamp, P. (eds): Handbook of Regional Science. Springer, Heidelberg.DOI: 10.1007/978-3-642-23430-9_34
  • PERRINGS, C., 2006, Resilience and Sustainable Development. Environment and Development Economics, 11(4), 417-427. DOI:10.1017/S1355770X06003020
  • PETERS, R., BERRE, M. LE., POMEAU, Y., 2012, Prediction of Catastrophes: an Experimental Model. Physical Review, 86. DOI: 10.1103/PhysRevE.86.026207
  • PLOTNIKOV, D., 2013, Hysteresis in Unemployment and Jobless Recoveries. UCLA, Working paper. DOI: 10.5089/9781484371749.001
  • ROSE, A., LIAO, S-Y., 2005, Modelling Regional Economic Resilience to Disasters: a Computable General Equilibrium Model of Water Service Disruptions. Journal of Regional Science, 45, 75–112. DOI: 10.1111/j.0022-4146.2005.00365.x
  • SAMUELSON, PAUL A., 1967, Economics: An Introductory Analysis . New York: McGraw-Hill Book Company.
  • ZOLLI, A., HEALY, A., 2012, Resilience: Why Things Bounce Back. London: Headline Publishing Group.

RESILIENCE INDICATORS FOR MEASURING SUSTAINABLE ECONOMIC DEVELOPMENT

Year 2017, Volume: 4 Issue: 2, 35 - 48, 30.04.2017

Abstract

The aim of this paper is to address to research the consistent patterns of the sustainable
development of socio-economic systems. Theoretical explanation of this hypothesis has empirical
verification by means of the research of the socio-economic system behavior of Ukraine. The analysis
results of the systems of differential equations (the analogue the Lotka–Volterra equations) and the
transformation of the phase space in the temporal mode for individual products indicate the possibility
of existence of periodic fluctuations of output, means of production (commodity X) and consumption
goods (commodity Y). The paper proposes to identify the resilience indicators for measuring
sustainable economic development. Methodical recommendations on forecasting of changes trends in
the "ecological" concept of resilience are tested focusing on depending on the level of the index postshock
recovery

References

  • ABUAF, N. and JORION, P., 1990, Purchasing Power Parity in the Long Run, Journal of Finance, 45, 157–174. ADLER, M. and LEHMAN, B., 1983, Deviations From Purchasing Power Parity in the Long Run, Journal of Finance, 38, 147-87.
  • ARROW, K., DEBREU, G. ,1954, Existence of Equilibrium for a Competitive Economy. Econometrica, 22(3), 265-290. DOI: 10.2307/1907353
  • AUGUSTINE, N., WOLMAN, H., WIAL, H., MCMILLEN, M., 2013, Regional Economic Capacity, Economic Shocks and Economic Resilience. MacArthur Foundation Network on Building Resilient Regions, Working Paper May, Institute of Government Studies, University of California, Berkeley.
  • BORGHESI, S., COSTANTINI, V., CRESPI F., MAZZANTI M., 2013, Environmental Innovation And Socio Economic Dynamics in Institutional and Policy Contexts. Journal of Evolutionary Economics, 23(2), 241-245. DOI 10.1007/s00191-013-0309-5
  • BURLUTSKI, S., BURLUTSKI, SV., 2015, The «Resources Curse» and Special Features of the Economic Growth in Ukraine. Journal of Life Economics, 3(1), 21-26. DOI dx.doi.org/10.15637/jlecon.64
  • BURLUTSKI, S., BURLUTSKI, SV., 2016, The Socio-economic Development of Ukrainian Economy: «Resources Curse» Phenomenon, in Berezin A. and Bezpartochnyi M.(eds), Formation Strategy of Economic Structures: the Tools and Practices. Riga: Landmark SIA, pp. 25-35.
  • CERRA, V., PANIZZA, U., SAXENA, S., 2009, International Evidence on Recovery Consumption. Ecological Economics, 42, 273–287.
  • DEBREU, G., 1959, Theory of Value: an Axiomatic Analysis of Economic Equilibrium. New York, Wiley.
  • FRIEDMAN, M., 1993, The ‘Plucking Model of Business Fluctuations Revisited. Economic Inquiry, 31(2), 171-177. DOI: 10.1111/j.1465-7295.1993.tb00874.x
  • HELTBERG, R., SIEGEL P., JORGENSEN S., 2009, Addressing Human Vulnerability to Climate Change: Toward 'No Regrets' Approach. Global Environmental Change, 19(1), 89-99. DOI:10.1016/j.gloenvcha.2008.11.003
  • HICKS, J.R., 1950, Contribution to the Theory of the Trade Cycle. Oxford : Clarendon Press.
  • KNUDSEN, E., 2011, Shadow of Trouble: The Effects of Pre-Recession Characteristics on the Severity of Recession Impact. Institute for Research in Economics and Business Administration Bergen, Working Paper No. 19/11.
  • KOVALEV, V., BURLUTSKIY, S., BURLUTSKA, SV., 2017, The «Resources Curse» Phenomenon in Context of Socio-Economic Transformation of Ukrainian Economy, in Głowski, P. and Kvilinskyi O. (eds), Economic Transformation in Ukraine: Comparative Analysis and European Experience. Warsaw: Consilium Sp. z o.o., pp.147–155.
  • KYDLAND, F., PRESCOTT, E., 1982, Time to Build and Aggregate Fluctuations. Econometrica, 50(6), 1345-1370. DOI: 10.2307/1913386
  • MARHASOVA, V., 2011, Theoretical & Methodological Grounds for Region's Economic Security Maintenance. Actual Problems of Economics, 124, 186-193.
  • MARTIN, R., 2014, Path Dependence and the Spatial Economy: A Key Concept in Retrospect and Prospect, in Fischer, M. M. and Nijkamp, P. (eds): Handbook of Regional Science. Springer, Heidelberg.DOI: 10.1007/978-3-642-23430-9_34
  • PERRINGS, C., 2006, Resilience and Sustainable Development. Environment and Development Economics, 11(4), 417-427. DOI:10.1017/S1355770X06003020
  • PETERS, R., BERRE, M. LE., POMEAU, Y., 2012, Prediction of Catastrophes: an Experimental Model. Physical Review, 86. DOI: 10.1103/PhysRevE.86.026207
  • PLOTNIKOV, D., 2013, Hysteresis in Unemployment and Jobless Recoveries. UCLA, Working paper. DOI: 10.5089/9781484371749.001
  • ROSE, A., LIAO, S-Y., 2005, Modelling Regional Economic Resilience to Disasters: a Computable General Equilibrium Model of Water Service Disruptions. Journal of Regional Science, 45, 75–112. DOI: 10.1111/j.0022-4146.2005.00365.x
  • SAMUELSON, PAUL A., 1967, Economics: An Introductory Analysis . New York: McGraw-Hill Book Company.
  • ZOLLI, A., HEALY, A., 2012, Resilience: Why Things Bounce Back. London: Headline Publishing Group.
There are 22 citations in total.

Details

Journal Section Articles
Authors

Sergii Burlutski This is me

Svetlana Burlutski This is me

Victoriya Margasova This is me

Publication Date April 30, 2017
Published in Issue Year 2017 Volume: 4 Issue: 2

Cite

APA Burlutski, S., Burlutski, S., & Margasova, V. (2017). RESILIENCE INDICATORS FOR MEASURING SUSTAINABLE ECONOMIC DEVELOPMENT. Journal of Life Economics, 4(2), 35-48.