A Dynamic Economic Resilience Model: A Case Study of a Regional Integration Organization in Eurasia

In recent years, sanctions, the Covid-19 pandemic, and military conflicts among countries, have underscored the significance of economic resilience in the push towards globalization through joint cooperation between countries. This research aims to measure the economic resilience index for the period 2000-2021, with a focus on the countries of the Shanghai Cooperation Organization. Additionally, the study investigates the impact of trade, production capacities, financial development, and the distance between the capital of each country and China's capital on the economic resilience index. The findings indicate that India has the highest average resilience at 63.2, while Pakistan has the lowest at 28.1. The results of fully modified, dynamic and robust ordinary least squares panel show that the economic resilience can be improved through increased production capacity, trade, and financial development. However, it decreases with an increase in the distance of trade. Therefore, international transport corridors should not be taken for granted.