Exploring the Concept of Economic Resilience Pre- and Post-2020: A Literature Review Using Text Mining and Sentiment Analysis

The concept of resilience has always been a multidisciplinary one, presenting relevance in domains such as psychology, engineering, art, and ecology. However, nowadays, the notion has been gaining a crucial economic valence since the highly dynamic and complex context has been requesting new outlooks on how to manage shocks. Therefore, the study aims to present the main approaches and definitions in terms of economic resilience, by first going through a short history of the term, and then demonstrating the newly gained understandings and valences after 2020. To do that we will profile two groups of stakeholders: the international institutions, who are designing entire agendas based on the economic resilience priority, and the related literature, represented by experts who will approach the subject in depth, adding various research models. Followingly, in terms of methodology, we will first go through the most important references and definitions of the term in the pre-2020 period, followed by an overview of the emerging visions post-2020. For each period, we will then select 15 articles that tackled the economic resilience subject, and using text mining and sentiment analysis methods we will profile the most important ideas, correlated concepts, and general sentiments described in the literature. The results will show that the economic resilience concept has entered a new phase, especially after the COVID-19 pandemic, in which the attention has switched to a general interest in studying the external factors’ impact, macroeconomic modeling, and general optimization. Lastly, we will observe how the end goal has been recalibrated to building long-term strategies focused on social, ecological, and political effects.