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Reforming the Multidimensional Vulnerability Index for Small Island Developing States

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  • Chenna, Srijay
  • Krishnaiah, Vishal
  • Lugardo, Diego Varela
  • Majeed, Noor
  • McGrath, Zachary

Abstract

The Multidimensional Vulnerability Index (MVI) was developed as a metric to evaluate middle-income countries in uniquely vulnerable positions. This includes Small Island Developing States (SIDS), many of which are represented in international forums by the Alliance of Small Island Developing States (AOSIS). Our study (1) focuses on potential gaps in the MVI’s ability to capture public health considerations though health infrastructure may represent a significant vulnerability from climate shocks and (2) considers forward-looking climate indicators in the MVI calculation. We focus on the Caribbean region of AOSIS member states for our study given that they provide an accessible breadth of data in public health. They are also tightly concentrated geographically, which indicates shared risk factors. We find that the MVI does not consistently capture institutional public health capacity or preparedness while highly indebted SIDS exhibit sustained health spending reflecting expenditure burden rather than fiscal mismanagement. While forward-looking climate indicators would improve legitimacy of the MVI, the unfortunate reality is the principal barrier to adoption may not be the technical adequacy of the index itself, but in the institutional governance structures that actively shape allocation decisions.

Suggested Citation

  • Chenna, Srijay & Krishnaiah, Vishal & Lugardo, Diego Varela & Majeed, Noor & McGrath, Zachary, 2026. "Reforming the Multidimensional Vulnerability Index for Small Island Developing States," SocArXiv c72pj_v1, Center for Open Science.
    • Handle: RePEc:osf:socarx:c72pj_v1
    DOI: 10.31219/osf.io/c72pj_v1
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    1. Celso Brunetti & Benjamin Dennis & Dylan Gates & Diana Hancock & David Ignell & Elizabeth K. Kiser & Gurubala Kotta & Anna Kovner & Richard J. Rosen & Nicholas K. Tabor, 2021. "Climate Change and Financial Stability," FEDS Notes 2021-03-19-3, Board of Governors of the Federal Reserve System (U.S.).
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