The Economics of Natural Disasters

Posted: 16 Sep 2011

See all articles by Derek Kellenberg

Derek Kellenberg

University of Montana

Ahmed Mushfiq Mobarak

Yale School of Management; Yale University - Cowles Foundation

Date Written: October 2011


This review discusses the ways in which countries are affected by natural disasters, depending on their socioeconomic characteristics, their level of development, and their inherent levels of natural disaster risk. We also explore various aspects of ex ante disaster mitigation such as improvements in natural disaster risk information and natural disaster insurance markets, as well as ex post responses to natural disaster in the form of postdisaster aid and long-run growth prospects. By highlighting some of the recent findings in this literature, we synthesize what we know about the economics of natural disasters and identify research areas of interest for future work.

Suggested Citation

Kellenberg, Derek and Mobarak, Ahmed Mushfiq, The Economics of Natural Disasters (October 2011). Annual Review of Resource Economics, Vol. 3, Issue 1, pp. 297-312, 2011. Available at SSRN: or

Derek Kellenberg (Contact Author)

University of Montana ( email )

Missoula, MT 59812
United States

Ahmed Mushfiq Mobarak

Yale School of Management ( email )

135 Prospect Street
P.O. Box 208200
New Haven, CT 06520-8200
United States
203-432-5787 (Phone)


Yale University - Cowles Foundation

Box 208281
New Haven, CT 06520-8281
United States

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