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Global Health Econ Sustain An analysis of national economic resilience

trend crises and recessions (Martin, 2012; Eraydin, 2016; accuracy of economic resilience measurement (Ringwood,
Wang & Huang, 2021). However, China quickly restores 2019), especially at the regional level. For example,
macroeconomic stability after these short-term shocks, Sichuan Province received economic assistance from other
showing China’s economic resilience in the past (Hu provinces, and it recovered quickly after the earthquake
et al., 2011). The aftermath of the huge economic shock catastrophe (Zhou et al., 2020). This raises a complex
stemming from COVID-19 epidemic (Jin et al., 2022; Wang question: How does one differentiate the roles of inherent
& Zhang, 2021) has left many wondering China’s economic economic resilience and external economic assistance in
resilience. This paper attempts to answer this research the recovery of disaster-stricken areas? Such intricacies
question to determine the country’ economic resilience, pose significant challenges in accurately measuring and
which is defined as the ability of an economy (country or comparing economic resilience across different countries
region) to withstand shocks and quickly recover (Martin, or regions.
2012; Bristow & Healy, 2020).
Overall, the primary issue with existing research is
As shown in the next section, there are two main its sole focus on regional economic resilience, neglecting
deficiencies in the existing research about economic the national level. The main contribution of this paper is
resilience. First, numerous existing studies, such as those providing a foundational framework for studying and
by Martin et al. (2015) and Bristow & Healy (2020), measuring economic resilience at the national level. Hence,
concentrate on economic resilience at the regional level, this article examines China as a case study to analyze its
with insufficient focus at the national level. Importantly, economic recovery trajectory and resilience following the
various regions within an economy are interdependent; COVID-19 epidemic’s shock, offering insights relevant to
hence, when one region experiences an economic shock, both researchers and policymakers. First, it investigates
the impact is rapidly disseminated to others (Jin & Qian, economic resilience at the national level, shedding light
2020). For instance, the significant earthquake in parts on this area and advocating for greater focus on national
of China’s Sichuan Province in 2008 led to immediate economic resilience. Second, this study contributes to
economic support from other provinces, aiding the the methodological discourse on effectively measuring
affected areas’ economic recovery (Zhou et al., 2020). national economic resilience. Recognizing that this field is
This interconnectivity underscores the value of examining still evolving, current research is far from exhaustive. Third,
economic resilience from a national perspective. by analyzing China’s economic recovery and resilience
Second, the measurement of economic resilience (Jakovljevic et al., 2022), and reviewing its public health,
is still in the exploratory stage, and a consensus has not fiscal, and monetary policies during this period, the study
been reached. Regarding the measurement of economic provides valuable insights for other countries grappling
resilience in existing research, a variety of approaches with the COVID-19 epidemic.
including descriptive case studies, composite indices, The rest of the paper is organized as follows: Section 2
and econometric models calculating recovery speed are explains the definition and existing research of economic
employed. Yet, these methods have not converged into a resilience; Section 3 reviews the progress of COVID-19
unified or universally persuasive methodology (Martin epidemic and the economic policies in China; Section 4
et al., 2015; Angulo et al., 2018; Doran & Fingleton, 2018). describes the methods and data employed in this study;
Candidly, such measurement poses a significant challenge, and Sections 5 and 6 showcase the research results and the
primarily due to its nature as an ex post estimation. It
involves assessing the capability and pace at which an conclusion, respectively.
economy returns to its original development trajectory 2. Related literature review references
following a shock. On the one hand, “no two leaves could
ever be exactly the same1.” Similarly, no two economic Before the work of Fujita & Thisse (2002), mainstream
shocks could ever be exactly the same. Consequently, as economics lacked a direct focus on “resilience.” Their
various countries (or regions) endure distinct economic introduction of resilience into economic research marked
shocks, their demonstrated ability and speed of recovery the genesis of the concept of “economic resilience.” This
will differ. Moreover, even if the same country experiences term is broadly encapsulated by the economic ability
an identical economic shock twice, the exhibited economic in difficult times that in the face of economic growth
resilience may vary, influenced by differing economic disruptions, resilient economies typically possess robust
policies. On the other hand, it is difficult to ensure the capabilities for self-recovery and self-adjustment,
enabling them to swiftly revert to their prior growth
1. It comes from a famous saying of Gottfried Wilhelm Leibniz, that is,
“No two leaves could ever be exactly the same, even if they came from trajectories (Martin et al., 2015; Capello et al., 2016;
the same tree.” Sensier et al., 2016). Succinctly, economic resilience

Volume 2 Issue 2 (2024) 2 https://doi.org/10.36922/ghes.1842