The Economics of Natural Disasters: A Survey

49 Pages Posted: 21 Apr 2011

See all articles by Eduardo A. Cavallo

Eduardo A. Cavallo

Inter-American Development Bank (IDB) - Research Department

Ilan Noy

Victoria University of Wellington

Date Written: December 2009

Abstract

Natural disasters are by no means new, yet the evolving understanding of their relevance to economic development and growth is still in its infancy. This paper summarizes the state of the economic literature examining the aggregate impact of disasters. The paper reviews the main disaster data sources available, discusses the determinants of the direct effects of disasters, and distinguishes between short- and long-run indirect effects. The paper then examines some of the relevant policy questions and follows up with projections about the likelihood of future disasters. The paper ends by identifying several significant gaps in the literature.

Suggested Citation

Cavallo, Eduardo A. and Noy, Ilan, The Economics of Natural Disasters: A Survey (December 2009). IDB Working Paper No. 35. Available at SSRN: https://ssrn.com/abstract=1817217 or http://dx.doi.org/10.2139/ssrn.1817217

Eduardo A. Cavallo (Contact Author)

Inter-American Development Bank (IDB) - Research Department ( email )

1300 New York Ave., NW
Washington, DC 20577
United States

Ilan Noy

Victoria University of Wellington ( email )

P.O. Box 600
Wellington, 6140
New Zealand

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