The global economic crisis, which erupted about one year ago with the US sub-prime mortgage crisis and the collapse of the investment bank Lehman Brothers, painfully reminds us on how vulnerable developing countries can be to external shocks.This short paper provides an overview of recent...

A small but growing literature has been concerned about the economic (and environmental) vulnerability on the level of countries. Less attention is paid to the economic vulnerability of different regions within countries. By focusing on the vulnerability of subnational regions, our paper...