McDermott, Thomas K. J.; Barry, Frank; Tol, Richard S. J. - 2011
, manifested through poorly developed financial markets. The theoretical analysis shows that the shock of a disaster occurrence … model are then tested using a panel of data on natural disaster events at the country - year level, covering the period 1979 … - 2007. We find that for countries with low levels of financial sector development, natural disaster events exert a …