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An Economic Vulnerability Index: Its Design and Use for International Development Policy

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  • Patrick Guillaumont
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    Abstract

    In response to a need expressed by the UN General Assembly, an Economic Vulnerability index (EVI) has been defined by the Committee for Development Policy. The present paper, which refers to this index, first examines how a structural EVI can be designed for low-income countries in particular. It recapitulates the conceptual and empirical grounds of the index, considers the structure of the present EVI, its sensitivity to methodological choices with respect to averaging, as well as possible improvements in this regard, and briefly compares the levels and trends of EVI in various country groups, using a new database from a “retrospective EVI”. The paper examines how the EVI can be used for international development policy, underlining two main purposes. The first—the purpose for which the EVI was initially designed—is the identification of the least-developed countries (LDCs) that are eligible to receive some preferential treatment in aid and trade matters. The EVI, in addition to income per capita and human capital, is one of three complementary criteria a country needs to meet in order to be designated as an LDC, and consequently it cannot be the sole criterion for countries wishing to avoid graduating from the LDC list. Second, the EVI can be used, in addition to other traditional measures, as a criterion for aid allocation between developing countries. It is argued that such an inclusion is legitimate for reasons of both effectiveness and equity. The two purposes are presented as complementary.

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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Oxford Development Studies.

    Volume (Year): 37 (2009)
    Issue (Month): 3 ()
    Pages: 193-228

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    Handle: RePEc:taf:oxdevs:v:37:y:2009:i:3:p:193-228

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    Cited by:
    1. Sèna Kimm Gnangnon, 2012. "Does Structural Economic Vulnerability Matter for Public Indebtedness in Developing Countries?," Working Papers halshs-00749469, HAL.
    2. Patrick GUILLAUMONT, 2011. "Assessing the impact of the special support measures for least developed countries: an analytical frame work and some preliminary results," Working Papers P17, FERDI.
    3. Joël CARIOLLE, 2012. "Mesurer l’instabilité macroéconomique - Applications aux données de recettes d’exportation, 1970-2005," Working Papers I14, FERDI.
    4. Patrick GUILLAUMONT, 2011. "Assessing the impact of the special support measures for least developed countries: an analytical frame work and some preliminary results," Working Papers P17, FERDI.
    5. Patrick GUILLAUMONT, 2014. "Measuring Structural Economic Vulnerability in Africa," Working Papers P97, FERDI.
    6. Gaoussou Diarra & Patrick Plane, 2011. "Assessing the World Bank's influence on the good governance paradigm," Working Papers halshs-00617576, HAL.
    7. Gnangnon, Sèna Kimm, 2013. "Structural vulnerability and excessive public indebtedness in CFA Franc Zone countries," Economic Modelling, Elsevier, vol. 35(C), pages 816-832.
    8. Patrick Guillaumont, 2011. "The concept of structural economic vulnerability and its relevance for the identification of the Least Developed Countries and other purposes," CDP Background Papers 012, United Nations, Department of Economics and Social Affairs.
    9. Joël CARIOLLE, 2012. "Measuring macroeconomic volatility - Applications to export revenue data, 1970-2005," Working Papers I14, FERDI.
    10. Sèna Kimm Gnangnon, 2012. "Structural Vulnerability and Excessive Public Indebtedness in CFA Franc Zone Countries," Working Papers halshs-00749470, HAL.
    11. Patrick GUILLAUMONT & Sylviane GUILLAUMONT JEANNENEY, 2009. "Accounting for Vulnerability of African Countries in Performance Based Aid Allocation," Working Papers P08, FERDI.
    12. Patrick GUILLAUMONT & Sylviane GUILLAUMONT JEANNENEY, 2009. "Accounting for Vulnerability of African Countries in Performance Based Aid Allocation," Working Papers P08, FERDI.
    13. Patrick GUILLAUMONT, 2014. "Measuring Structural Economic Vulnerability in Africa," Working Papers P97, FERDI.

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