BALANCING ECONOMIC DEVELOPMENT AND RESILIENCE: A POLICY PARADOX

Abstract

The aim of this paper is to explore the intricate relationship between sustainable economic development and economic resilience. It highlights how measures to stimulate economic growth, such as investments in physical and human capital, innovation, entrepreneurship, and sound fiscal policies, can also bolster resilience, while recognizing the potential conflicts between short-term growth and long-term resilience goals, especially in the context of increasing debt. The paper also proposes several mitigation strategies offering a roadmap for governments to strike a balance between fostering economic expansion and ensuring readiness to face unforeseen challenges, with the flexibility to adapt to unique economic contexts.

Keywords

• resilience
• economic
• growth
• mitigation
• strategies
• holistic approach