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Vulnerability and Resilience: Two Dimensions of Rurality

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  • Freshwater, David

Abstract

The paper provides an overview of the treatment of risk in economics as a way to connect the concept of risk, as used by economists, to the concern of other social science disciplines with how the parallel concepts of vulnerability and resilience affect rural and regional development. These latter two terms have become popular in the economic geography, rural sociology, disaster management and regional studies literature, but typically have not been considered in a formal way. The paper provides examples from three threads of economics literature – household studies of vulnerability, macroeconomic studies of vulnerability and growth, and the literature on small states, volatility and economic growth, to suggest how standard economic models of risk management can be applied to rural development problems in OECD countries. Applying these concepts may lead to some alternative conclusions about the desirability of common rural development strategies, such as, diversification forming clusters or expanding local supply chains.

Suggested Citation

  • Freshwater, David, 2014. "Vulnerability and Resilience: Two Dimensions of Rurality," Staff Papers 174103, University of Kentucky, Department of Agricultural Economics.
    • Handle: RePEc:ags:ukysps:174103
    DOI: 10.22004/ag.econ.174103
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    References listed on IDEAS

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    1. Philip Kostov & John Lingard, 2004. "Rural Development as Risk Management," Others 0409013, University Library of Munich, Germany.
    2. Roberta Capello & Peter Nijkamp (ed.), 2009. "Handbook of Regional Growth and Development Theories," Books, Edward Elgar Publishing, number 12874.
    3. Dawley, Stuart & Pike, Andy & Tomaney, John, 2010. "Towards the resilient region?: policy activism and peripheral region development," LSE Research Online Documents on Economics 33523, London School of Economics and Political Science, LSE Library.
    4. Stuart Dawley & Andy Pike & John Tomaney, 2010. "Towards the Resilient Region?: Policy Activism and Peripheral Region Development," SERC Discussion Papers 0053, Centre for Economic Performance, LSE.
    5. Alwang, Jeffrey & Siegel, Paul B. & Jorgensen, Steen L., 2001. "Vulnerability : a view from different disciplines," Social Protection Discussion Papers and Notes 23304, The World Bank.
    6. Lino Briguglio & Gordon Cordina & Nadia Farrugia & Stephanie Vella, 2009. "Economic Vulnerability and Resilience: Concepts and Measurements," Oxford Development Studies, Taylor & Francis Journals, vol. 37(3), pages 229-247.
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