Examining the Economic Resilience of Nations Post the Global Financial Crisis: A Study for Select Leading Economies

Abstract

The 2008 global financial crisis tested the macroeconomic strength of the economies of the world, broadly reflecting their competence to withstand such a global financial meltdown in terms of the extent of price stability, the degree of their endurance to the economic dynamism, their external trade position and the extent of openness to the international trade, economy’s fiscal position, and domestic competitiveness. At this juncture, it becomes imperative to evaluate the performance of the economies in the macroeconomic environment after the 2008 financial crisis. The present study attempts to analyse the Macroeconomic Resilience Index (MERI) of the top ten economies of the world in the years post the financial crisis of 2008. Additionally, through this paper, an assessment of the Post-Lehman Economics – the New Economic Order is made and implications for the post COVID-19 world are discussed.