Estimating the Direct Economic Damage of the Earthquake in Haiti

19 Pages Posted: 21 Apr 2011

See all articles by Eduardo A. Cavallo

Eduardo A. Cavallo

Inter-American Development Bank (IDB) - Research Department

Andrew Powell

Inter-American Development Bank (IDB); Universidad Torcuato Di Tella - School of Business; Harvard University - Center for International Development (CID)

Oscar Becerra

affiliation not provided to SSRN

Date Written: February 2010

Abstract

This paper uses simple regression techniques to make an initial assessment of the monetary damages caused by the January 12, 2010 earthquake that struck Haiti. Damages are estimated for a disaster with both 200,000 and 250,000 total dead and missing (i. e. , the range of mortality that the earthquake is estimated to have caused) using Haiti’s economic and demographic data. The base estimate is US$8. 1bn for a death toll of 250,000, but for several reasons this may be a lower- bound estimate. An estimate of US$13. 9bn for the same death toll is within statistical error. While the results are subject to many caveats, the implications of such an estimate are significant. Raising such a figure will require many donors—bilateral, multilateral and private. Hence excellent coordination of funding and execution will be the key to ensuring the efficient use of funds.

Suggested Citation

Cavallo, Eduardo A. and Powell, Andrew P. and Powell, Andrew P. and Becerra, Oscar, Estimating the Direct Economic Damage of the Earthquake in Haiti (February 2010). IDB Working Paper No. 46, Available at SSRN: https://ssrn.com/abstract=1817279 or http://dx.doi.org/10.2139/ssrn.1817279

Eduardo A. Cavallo (Contact Author)

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

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

Andrew P. Powell

Inter-American Development Bank (IDB) ( email )

1300 New York Avenue NW
Washington, DC 20577
United States

Universidad Torcuato Di Tella - School of Business ( email )

Saenz Valiente 1010
C1428BIJ Buenos Aires
Argentina
+5411 4787-9349 (Phone)
+5411 4783-3220 (Fax)

Harvard University - Center for International Development (CID) ( email )

One Eliot Street Building
79 JFK Street
Cambridge, MA 02138
United States

Oscar Becerra

affiliation not provided to SSRN ( email )

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
83
Abstract Views
975
rank
370,428
PlumX Metrics