What is Economic Vulnerability

The latest global financial crisis and its effects on emerging economies engaged researchers' attention to the relationship between economic vulnerability factors and financial crisis. Especially, infrastructure and growth-based factors directly impact on the economic vulnerability of emerging economies. In this study, it is aimed to investigate the economic vulnerability factors indicating the infrastructure and growth of emerging markets after the global financial crisis of 2008 with a hybrid multi criteria decision making approach. To clarify the relationship between the subjective causality structures of the real world problems DEMATEL and PROMETHEE techniques have been employed in the hybrid model. The results illustrate that (1) Nigeria has the highest degree of the economic vulnerability in each year after the global financial crisis, and (2) Mexico for 2009, Turkey for 2012, and Korea for 2015 have the lowest degree of exogenous economic and environmental shocks among the selected emerging markets.