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Market resilience in times of crisis: The case of Darfur
Author(s) -
De Matteis Alessandro,
Turkmen Ceylan Fethiye Burcu,
Kebede Bereket
Publication year - 2021
Publication title -
review of development economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.531
H-Index - 50
eISSN - 1467-9361
pISSN - 1363-6669
DOI - 10.1111/rode.12783
Subject(s) - shock (circulatory) , resilience (materials science) , economics , natural disaster , psychological resilience , market integration , macroeconomics , psychology , geography , social psychology , medicine , physics , meteorology , thermodynamics
This article focuses on market behavior during crises. It provides an analysis of market functioning in North Darfur, Sudan, over a decade when both natural and manmade disasters were experienced. Results obtained using two rigorous methodological approaches highlight how markets not only remained functional during crises, but even operated more efficiently after a shock than in normal conditions. While our analysis focuses on specific events, we argue that our findings have general validity and application.