The economics of natural disasters
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Material Information

Title:
The economics of natural disasters a survey
Series Title:
IDB Working paper series
Creator:
Cavallo, Eduardo
Noy, Ilan
Inter-American Development Bank. Research Dept. ( contributor )
Disaster Risk Reduction Program, Florida International University (DRR/FIU) ( summary contributor )
Place of Publication:
Washington, D.C.
Publisher:
Inter-American Development Bank (IDB)
Publication Date:
Copyright Date:
2009
Language:
English
Physical Description:
Internet resource

Subjects

Subjects / Keywords:
Natural disasters -- Economic aspects ( lcshac )
Climate change ( lcshac )
Natural hazards and disasters ( lcshac )
Genre:
non-fiction ( marcgt )

Notes

Summary:
Though countries are experiencing larger and more frequent disasters, there is a significant gap in the research examining their impact on economic growth and development. After carefully reviewing the state of the economic literature in terms of the economic impact of disasters, the document examines the direct and indirect effects of disasters, both in the short and long run. The report notes that there is quite a bit of heterogeneity in terms of direct damages found across countries, with variance being particulalry significant between regional country groupings. A contrasting median impact of disasters is also reflected. While in North America and Western Europe, the median incidence is found to be less than 0.1 person/million inhabitants, in disaster events in Africa and/or Latin America and the Caribbean, the number is over 1. Among the three main types of disasters, the ones that carry the greatest impact globally are hydro-meteorological events. Even considering that “large events” tend not to occur frequently, when they do happen, their direct costs prove insurmountable for developing countries, which often face the highest numbers of casualties and economic damages in their aftermath. At the end of the document, evidence is provided that links the extent of adverse impact caused by disaster with the inability to effectively mobilize funding for reconstruction. The fact that poorer countries are greatly affected by disasters is not new, but their incapacity to adopt counter-cyclical fiscal policies necessary for the reconstruction process after disaster is something that needs to be addressed. ( English,English )
Subject:
Economics and Natural Disasters
Citation/Reference:
Cavallo, E., Noy, I. (2009). The economics of natural disasters: a survey. Inter-American Development Bank (IDB).

Record Information

Source Institution:
Florida International University
Rights Management:
This paper may be freely reproduced provided credit is given to the Inter-American Development Bank.
Resource Identifier:
FI13010906
643335121 ( oclc )

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Aggregations:
Disaster Risk Reduction