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The economics of multisystemic resilience

Conti, G; Paredes, T; (2021) The economics of multisystemic resilience. In: Multisystemic Resilience: Adaptation and Transformation in Contexts of Change. (pp. 584-599). Green open access

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Abstract

The concept of resilience in the economic literature is centered around the capacity to overcome adverse circumstances and to mitigate the impacts of shocks through the development of human capital starting in early childhood. In this chapter, the authors review the existing evidence on multisystemic resilience in economics, from both a micro- and a macroperspective. To do so, they first introduce the theory of human capital development and the large body of empirical evidence about early interventions that seek to boost resilience in children. They then discuss two more recent strands of literature: one that examines whether subsequent investments can offset the effects of early-life shocks and another that uses micro-founded macroeconomic models to understand the indirect (multisystemic) effects of early interventions.

Type: Book chapter
Title: The economics of multisystemic resilience
ISBN-13: 9780190095888
Open access status: An open access version is available from UCL Discovery
DOI: 10.1093/oso/9780190095888.003.0031
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics
URI: https://discovery.ucl.ac.uk/id/eprint/10122502
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