ECONOMIC RESILIENCE: TRENDS AND KEY DETERMINANTS

Roman Chupandin

Sumy State University,
Sumy, Ukraine

Tetyana Chupandina

Sumy State University,
Sumy, Ukraine


Pages: 50-63

Original language: Ukrainian

DOI: 10.21272/1817-9215.2023.3-05

Summary:

This article synthesizes arguments and counterarguments within the scientific discourse on economic resilience. The main aim of the conducted research is to systematize literary sources and approaches to addressing the issue of economic resilience, as well as identifying key factors and relationships. It is evidenced that economic resilience is a crucial component of economic development, directly impacting the social and cultural aspects of society. Methodologically, the research employs bibliometric analysis and content analysis, covering the period from 2000 to 2022. Scientific publications on economic resilience indexed in Scopus were chosen as the research object. The article presents the results of bibliometric analysis, demonstrating a deep connection between economic resilience and societal development. The empirical evidence confirms and theoretically substantiates that economic resilience fosters the development of various economic sectors, increases production, stabilizes the financial system, and enhances the quality of life. Furthermore, a resilient economy plays a pivotal role in achieving sustainable development through preserving natural resources and implementing environmentally friendly technologies. The analysis underscores the necessity of developing and implementing policies aimed at ensuring economic resilience, which should focus on stimulating innovation, supporting entrepreneurship, and developing human capital. Such an approach will maximize the potential of the economy to achieve sustainable development and improve societal well-being. The findings of this research can be valuable for the scientific community, governmental institutions, and the business environment, facilitating the formulation of effective strategies for managing economic and social development.

Keywords:
economic resilience, economy, agriculture, COVID-19, climate change, oil and gas, disease, food security, alternative energy.

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