| Title |
Evaluating Import Diversification and Economic Vulnerability in the Context of Global Trade Uncertainties: A Comprehensive Analysis of Lithuania / |
| Authors |
Rimkunaite, Kristina ; Lekavicius, Vidas |
| eISBN |
9786057173942 |
| Full Text |
|
| Is Part of |
44th EBES Conference -Program and Abstract Book.. Istanbul : EBES, 2023. p. 79.. eISBN 9786057173942 |
| Keywords [eng] |
import ; diversification ; impact on economics ; inter - sectoral links ; international trad |
| Abstract [eng] |
Most recent global trade uncertainties created a need for ways to monitor, identify and estimate certain country imports situation and create risk - minimizing policies which might have different approaches, methods and tools. Lithuania is a small open economy, highly dependent on trade with external parties. Diversification of imports is crucial to minimize arising risks and remain competitive in rapidly changing international environments. Howeve r, certain goods have limited potential for geographical diversification in the short term. Therefore, evaluating import diversification levels and assessing the possible impacts of import disruptions is essential for efficient policymaking. For the govern ment, import diversification and economic impact assessment system is an important tool during continuous economic turmoil. The framework for assessing import diversification and its impact on the economy presented in this study is based on a complex analy sis of import diversification indicators and the simulation of import shocks using extended input - output modelling. The study results highlight import diversification trends and the most vulnerable areas of imports in the case of Lithuania and suggest sugg estions for improving the situation. In the light of the aftermath of pandemics, breaking supply chains and conflicts on the ground causing price hikes in energy and other sectors, the model with practical tools created for Lithuania might prove to be usef ul to other countries as well. |
| Published |
Istanbul : EBES, 2023 |
| Type |
Conference paper |
| Language |
English |
| Publication date |
2023 |
