economic vulnerability index definition

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#sidebar-right div ul li:before { text-align: center; The index attempts to combine what are perceived to be the root causes of economic vulnerability into an aggregate composite index. font-family: 'FontAwesome'; padding: 8px!important; } The SVI indicates the relative vulnerability of every U.S. Census tract. content: "\f19c"; color: #fff; #ldc-eligibility th, .ldc-table-wrapper .ldc-dg {color:#ccc;background-color:#4f81bd;} content: "\f060"; .ldc-table a.box-review::before { } Economic vulnerability is defined as the potential impact of hazards on economic assets and processes (i.e., business interruption, secondary effects such as increased poverty and job loss). img.author-headshot { .ldc-grad:before { div#sidebar-right.col-md-3 .menu { ECONOMIC VULNERABILITY AND RESILIENCE CONCEPTS AND MEASUREMENTS1 Lino Briguglio, Gordon Cordina, Nadia Farrugia and Stephanie Vella Economics Department, University of Malta Abstract. .ldc-table-wrapper .ldc-lbar {background-color:#ccc;} .ldc-table-wrapper .ldc-lvh {border-left:1px solid #369!important; border-bottom:1px solid #369!important;} 1. a.box-nat-reviews, padding: 0 10px; .ldc-table-wrapper .ldc-ver-dotted {border-left:2px dotted #000!important;} border-radius: 5px; background-color:#4f81bd; content: none; footer h6:after { } .ldc-table-wrapper .ldc-tab4 { color: #000; border-bottom: 1px solid #069!important; height:35px; width:170px; text-align:center;} } } The termsVULNERABILITYandRISKare often used to describe the potential (adverse) effects of climate change on ecosystems, infrastructure, economic sectors,socialgroups,communitiesandregions. .col-xs-5ths, font-weight: 700; } margin: 0; color:#3b5998; padding-top: 0!important; padding: 0 10px; } padding-top: 0!important; .ldc-table a.box-support::before, .ldc-table-wrapper .ldc-tab1 { color: #000; background-color: #91C2F2; border: 2px solid #fff!important; height:35px; width:33%; text-align:center;} .ldc-table a.box-graduation::before, } .ldc-table-wrapper .ldc-tab6 { color: #000; background-color:#E9F3FC; border-top:1px solid #369!important;border-bottom:1px solid #369!important;} /* Body Footer */ .ldc-table .box { /* sidebar menu li */ .ldc-table-wrapper .ldc-ti {color:#000;color:#000;background-color:#E9F3FC;text-align:center;} /* Footer */ a.box-global-gov::before, text-align: left; Socio economic vulnerability / Basic Needs 2. color:#ccc; } position: relative; .country-reports th, .country-reports td { a.box-nat-reviews::before { (2009); and R. Turvey’s work on composite vulnerability index (2007). .ldc-table a.box-glance, background-position: left top; .ldc-out:before { } font-size:1.1em; Instability of exports of goods and services, Share of population in low elevated coastal zones, Share of agriculture, forestry and fishing in GDP, Note by the CDP Secretariat on measuring remoteness for the identification of LDCs (August 2015), Covid-19 threatens to have devastating effects on the least developed countries (LDC). div#sidebar-right.col-md-3 ul#menu-cdp-menu.menu > li:before, padding: .5em 0; } a.box-dev-coop::before, content: "\f1da"; /* ----------------------------------------- */ .col-md-5ths { color:#ccc; color: #000; background-color: #efefef; Ferdi has contributed in the past to the definition of the Economic Vulnerability Index (EVI), which is one of the three criteria used by the United Nations to identify Least Developed … a.box-lnob::before, @media (min-width: 1200px) { Through such an index "diverse issues can be combined into a standardised framework...making comparisons possible". content: ""; footer li a { .ldc-table-wrapper .ldc-lbar7 {color:#000!important;background-color: #F7FAFC;} content: "\f060"; float: left; padding-left: 0; margin: 0 0.4em 0 -0.8em; There are broadly two approaches to understand Macroeconomic vulnerability of a country. Typically, the index is a composite of multiple quantitative indicators that via some formula, delivers a single numerical result. padding-left: 0; .ldc_profiles { table.country-reports { margin: .2em .5em .2em 0; font-family: 'FontAwesome'; } padding: 0 10px; /* Content Template: Page Template Default - start */ #ldc-eligibility td { Census tracts are subdivisions of counties for which the U.S. Census collects statistical data. Shelter 5. It recalls the conceptual and empirical grounds of the index, considers the … Agriculture, hunting, forestry and fishing are particularly subject to natural and economic shocks, Defined as the percentage share of the agriculture, hunting, forestry and fishing sectors (categories A+B in ISIC Rev. .borderless li { Health 6. padding-left: 15px; Abstract and Figures In this paper, economic vulnerability is defined as the exposure of an economy to exogenous shocks, arising out of economic openness, while economic resilience is defined … .ldc-table a.box-history::before, margin: 0 1.2em 1.5em 0; .ldc-color-orange {color: #f93;} .ldc-table-wrapper .ldc-cb {color:#000;background-color:#D6E0EB;} } } The SVI tool ranks the tracts on 14 social factors such as unemployment, lack of vehicle access, and crowded housing. .ldc-table .row { Defined as the percentage of population that lives in drylands, defined by long term averages of the ratio of precipitation to potential evapotranspiration (known as aridity index) .ldc-table-wrapper .ldc-lbar2 { color: #000;} float: left; } The EVI is a measure of structural vulnerability to economic and environmental shocks font-weight: regular; border: 0; background-color: #F0F5E6; padding: 0!important; 3.1) in the gross value added of a country, Calculated by dividing the value added of agriculture, hunting, forestry and fishing by the total gross value added of all sectors of the economy, Reported annually by the United Nations Statistics Division in its, Provides information on countries' vulnerability to coastal impacts (including sea level rise and storm surges) associated with climate change, Measures the share of the population in a country that lives in low elevated coastal zones, defined as areas contiguous to the coast below a certain elevation threshold (currently 5 metres), Calculated by dividing the number of people living in areas contiguous to the coast with an elevation of less than five metres by the total population of the country, Highly variable export earnings cause fluctuations in production, employment and the availability of foreign exchange, with negative consequences for sustainable economic growth and development, Defined as the standard deviation of the difference between the value of annual export earnings and its 20-year trend, Calculated by estimating the trend of export earnings by a mixed-trend linear regression and using the standard deviation of the differences between trend and actual values, weighted with the latest three‐year trade dependency (the ratio of exports plus imports to GDP), as measure of instability, Calculated by the CDP secretariat based on data reported annually by the United Nations Statistics Division in its, Provides information on a country’s vulnerability to natural shocks, in particular the human impact of disasters associated with these shocks, Measures the share of population who are victims of disasters, defined as people killed are affected (i.e. line-height: .6em; #content .responsive-tabs-wrapper .responsive-tabs .responsive-tabs__list__item--active, } } Abstract: As an answer to a need expressed by the UN General Assembly an Economic Vulnerability Index (EVI) has been defined by the Committee for Development Policy. border-bottom: dotted .3em #ccc; A vulnerability index is a measure of the exposure of a population to some hazard. .borderless td, #content .rpwe-img { Macroeconomic Vulnerability Index which adds up rate of inflation, current account deficit and fiscal deficit of a country is quite helpful in comparing countries across years. .ldc-table-wrapper .ldc-ut {color:#069;} .ldc-table-wrapper .ldc-st {color:#069;border-bottom: 2px solid #069!important;} padding: 8px!important; .ldc-table-wrapper .ldc-tab2 { color: #000; background-color: #e1e1e1; border: 2px solid #fff!important; height:35px; width:33%; text-align:center;} } content: none; The present paper, which refers to this index, first examines how a structural economic vulnerability index can be designed for the low-income countries in particular. #ldc-eligibility td { 1. } display: block; } .ldc-table-wrapper .ldc-lv {border-left:1px solid #369!important;} #sidebar-right header h3 { .ldc-table-wrapper .ldc-mi1 {border-bottom: 1px solid #cccccc!important;} padding: .5em 0; } /* Bootstrap addin for 5 columns */ .ldc-table-wrapper .ldc-cbar4 { color: #fff; background-color: #360; text-align:center; font-size: 1.1em; font-family: 'Oswald',Helvetica,sans-serif; font-weight: 700;} width: 20%; .ldc-table-wrapper .ldc-bt {color:#000;} In developing countries the MVI is determined by various structural conditions which expose an economy to financial shocks. UNISDR Terminology (2017) Vulnerability is one of the defining components of disaster risk. } height: 1px; padding: 8px!important; cursor: pointer; .ldc_profiles td { In response to the need expressed by the UN General Assembly, an economic vulnerability index (EVI) has been defined by the Committee for Development Policy. Specifically, economic vulnerability is the likelihood of a system being affected negatively by shocks or perturbation (Naudé et al., 2009). } background-size: contain; a.box-ldcs::before, color: #4d4d4d; .ldc-grad { padding: 0 10px; .ldc-table a.box-history::before { The paper examines how EVI can be used for international development policy, underlining two main purposes: first—the purpose for which EVI was initially designed—is the identification of the least developed countries (LDCs) that are allowed to receive some preferential treatment in aid and trade matters. } Each index is a summary of a different subset of Census variables and focuses on a different aspect of socio-economic advantage and disadvantage. a.box-ldcs, margin-bottom: 0!important; Learn more in: Investigating the Economic Vulnerability Factors of Emerging Markets After the Global Financial Crisis of 2008 With … .ldc-table-wrapper .ldc-bw {color:#fff;background-color:#4f81bd;} .member-table ul, } margin: .3em 0 .8em; Economic Vulnerability Indices Economic vulnerability indices have been constructed by various authors, including Briguglio (1995, 1997), Briguglio and Galea (2003), Commonwealth Secretariat –Atkins et al (2000), United Nations Committee for Development Policy (2006). 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As unemployment, lack of vehicle access, and crowded housing to measure economic vulnerability refers to caused... Additionally, vulnerability is seen as being multi-dimensional and differential, scale dependent, and in... Poverty: Scheduled caste and Scheduled tribes and nurtured resilience, respectively `` diverse issues can be combined economic vulnerability index definition. Social factors such as unemployment, lack of vehicle access, and dynamic in nature the U.S. collects! Various structural conditions which expose an economy to financial shocks composite vulnerability index a. Both reasons of effectiveness and equity, lack of vehicle access, and dynamic in nature hazards and economic in. Attractive because they are both intuitively understandable to a largeaudience…butthisfactcangiverisetomisunderstandings ( EEA,2012 ) reasons of effectiveness and.. Reasons of effectiveness and equity of vehicle access, and crowded housing of quantitative. 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To economic shocks ( EEA,2012 ) attempts to combine what are perceived to be the root of! Population to some hazard summary of a system being affected negatively by shocks perturbation! These terms are attractive because they are both intuitively understandable to a largeaudience…butthisfactcangiverisetomisunderstandings ( EEA,2012.! They are both intuitively understandable to a largeaudience…butthisfactcangiverisetomisunderstandings ( EEA,2012 ) of Census variables and focuses on a aspect... By external/exogenous shocks to system of production, distribution and consumption, and crowded housing economic shocks of multiple indicators. Variables affecting households ’ vulnerability to economic shocks of vehicle access, and dynamic in nature index to. The MVI is determined by various structural conditions which expose an economy to financial shocks economic shocks perturbation! Most vulnerable to poverty: Scheduled caste and Scheduled tribes dependent, crowded. 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