2014 Volume 70 Issue 5 Pages I_353-I_369
Currently, the world faces a vast number of risks such as cyber-attacks, energy crisis, food crisis, pandemic, terror and war. According to the report issued by World Economic Forum, it is pointed out that “Systemic financial crisis” would be the greatest risk that impact on the world and probability of occurrence also tends to increase. In order to find the way to build resilient economy of Japan, early recovery from external shock, this paper analyze what characteristics of nations recovered earlier from the collapse of Lehman Brothers, it means what types of national economy has stronger resilient economy. As a result, expansion of public works investment significantly effects on earlier recovery of GDP, and development of the manufacturing industry and expansion of public works investment significantly effects on earlier recovery of unemployment rate. This paper concludes that increasing public spending such as public works investment is quite effective macroeconomic policy for resilient recovery of GDP and unemployment rate from global risks.
