The Economic Impacts of Natural Disasters: A Review of Models and Empirical Studies
By W. Botzen, O. Deschenes, M. Sanders. Review of Environmental Economics and Policy, 2019
590 citations recorded by the source corpus.
Economic losses from natural disasters have been increasing in recent decades. This has been attributed mainly to population and economic growth in disaster-prone areas. Future natural disaster losses are expected to increase due to a continued increase in economic exposure and climate change. This highlights the importance of designing policies that can mitigate the impacts of these disasters on the economy and society. A rapidly expanding literature has estimated the direct (e.g., property damage) and indirect (e.g., gross domestic product growth, trade) economic impacts of natural disasters. This article reviews this emerging literature. We synthesize the main theoretical, computational, and empirical methods used, summarize key findings on the economic impacts of natural disasters, and discuss factors that have been found to mitigate disaster impacts. We conclude by identifying lessons for policymakers and outlining an agenda for future research in this field.
Subfields: Civil and Structural Engineering, Global and Planetary Change, Sociology and Political Science
View Paper: https://www.semanticscholar.org/paper/6fb1db9a51b43e34ea35e802783b8bbb3ace804d
How researchers see this paper
The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.
Citations in the corpus
- Feeling the Heat: Climate Risks and the Cost of Sovereign Borrowing (2021, background): “Supply and demand shocks from extreme weather events, although short-term in nature, can have lasting impacts on growth (Acevedo 2014; Klomp and Valckx 2014; Botzen, Deschenes, and Sanders 2019) and public finances.”