Economic Resilience, Resource Diversification, and Sustainable Development: An Integrative Review and Conceptual Framework
DOI:
https://doi.org/10.62503/err.1.1.73-84Keywords:
Climate resilience, Economic resilience, Institutional quality, Resource diversification, Sustainable developmentAbstract
Recurrent shocks, including financial crises, pandemics, energy price spikes, supply chain disruptions, and intensifying climate hazards, have made the capacity of national economies to absorb, adapt to, and transform after disruptions a central condition for sustainable development. Yet the macroeconomic, climate-economics, structural-diversification, and institutional literatures on resilience have evolved largely in isolation, leaving the joint mechanisms through which resilience shapes long-run development insufficiently theorized. This article integrates these streams into a coherent explanatory framework. Methodologically, it combines an integrative literature review with a theory-synthesis approach to conceptual development, drawing on peer-reviewed cross-country, national, and regional evidence and on major institutional reports, with emphasis on studies published between 2019 and 2026. The synthesis indicates that absorptive capacity, grounded in policy space, external buffers, and sound financial conditions, limits immediate output losses, whereas adaptive and transformative capacities determine whether shocks leave persistent scars; that climate vulnerability raises sovereign and corporate financing costs and narrows fiscal space; that export and productive diversification dampens many, but not all, types of shocks; and that institutional quality conditions all of these relationships. The article advances a framework linking shocks, transmission channels, three resilience capacities, and sustainable development outcomes, moderated by resource diversification and institutional quality, and derives six testable propositions together with a methodological agenda for heterogeneous and cross-sectionally dependent panels. It concludes with macroeconomic policy implications for emerging economies such as Indonesia.
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