Disasters are often followed by a large-scale stimulus supporting the economy through the built environment, which can last years. During this time, official economic indicators tend to suggest the economy is doing well, but as activity winds down, the sentiment can quickly change. In response...

The Disaster Resilient and Responsive Public Financial Management (DRR-PFM) Assessment is designed to help countries strengthen the capability of their Public Financial Management (PFM) systems to prepare for, respond to, and recover from disasters. The DRR-PFM Assessment expands upon an...

This report provides a selected analysis of Vanuatu's economy and public finances, emphasizing the lens of disaster resilience. It draws upon the analysis and tools from two core World Bank diagnostic products, the Country Economic Memorandum (CEM) and Public Expenditure Review (PER) while...

While there is a growing literature on the impact of climate and weather-related events on migration, little is known about the mitigating effect of different policies directed to the agricultural sector, or aimed at insuring against environmental disasters. This paper uses state-level data on...

Wie schon die Hochwasserereignisse 2002 und 2013 haben auch die Folgen der Flutkatastrophe im Juli 2021 dramatisch die Notwendigkeit von gesellschaftlichen Klimaanpassungsstrategien in Deutschland aufgezeigt. Bund und Länder haben zum dritten Mal eine Arbeitsgruppe mit der...

In February 2021, winter storm Uri brought extreme cold to Texas for many days. The cold caused a spike in electricity and natural gas demand and simultaneously a sharp drop in supply. The electricity shortage caused 4.5 million Texans to lose power for multiple days. Many lost water service...

Extreme natural hazards represent, together with crises and wars, the most disruptive phenomena for economic activity. Their economic impact has been shown to be remarkable, long-lasting, and growing over time, though the exact mechanisms at stake are challenging to isolate and quantify. As...

The Disaster Resilient and Responsive Public Financial Management (DRR-PFM) Assessment is designed to help countries strengthen the capability of their Public Financial Management (PFM) systems to prepare for, respond to, and recover from disasters. The DRR-PFM Assessment expands upon an...

This report provides a selected analysis of Vanuatu's economy and public finances, emphasizing the lens of disaster resilience. It draws upon the analysis and tools from two core World Bank diagnostic products, the Country Economic Memorandum (CEM) and Public Expenditure Review (PER) while...

Extreme weather events are increasing in frequency and intensity, threatening lives and livelihoods around the world. Understanding the short- and long-term effects of such events is necessary for crafting optimal policy. The short-term economic impacts of natural disasters can be severe,...

This paper investigates the effects of international migration restrictions on communities' capacity to absorb income shocks after natural catastrophes. We adopt the implementation of an emigration ban on female Indonesians as a natural experiment. After an array of violent assaults against...

Im Juli 2021 wurde der Westen Deutschlands von verheerenden Sturzfluten heimgesucht, die eine Vielzahl an Todesopfern gefordert haben. Neben den menschlichen Tragödien gab es wirtschaftliche Schäden in Milliardenhöhe. Häuser wurden unbewohnbar, ökonomische Existenzen von Privathaushalten...

I investigated how people's childhood experiences of involvement in team sports helped them develop non-cognitive skills, which later prompted them to make charitable donations to disaster victims. I independently collected individual-level data from approximately 7000 observations in 2016. The...

This paper proposes a disaster DGSE model with political uncertainty to examine the future implications of climate disasters on financial markets. The model predicts that there are three additional risk factors due to this specification: climatic disaster risk, political uncertainty risk, and a...

When data include extremes, finite expectations may not exist and rational policymaking fails. We apply methods from Extreme Value Theory to data on mortality rates from respiratory contagions for the US and the world over the 30 years immediately preceding COVID-19. This allows us to ask: Did...

This paper studies the impact of hurricanes on housing markets and population turnover using microdata from Florida during 2000-2016. We find that hurricanes cause a temporary increase in home prices and a concurrent decrease in transactions, which together imply a negative transitory shock to...

In this seminar, I argue that Caribbean societies witness the effects of global warming and extreme weather events in a disproportionate manner, because of inequalities that are baked into their societies due to the histories of enslavement, colonialism and uneven integration into financial and...

We document the investment and financing decisions of firms that experience monetary losses due to extreme weather events. Our sample covers firms operating in 41 economies, mainly emerging and developing markets. Consistent with the need to either replenish damaged capital or to adapt to...

Hurricane Harvey brought more than four feet of rainfall to the Houston area in August 2017, leading to substantial flooding in many areas. Using regulatory data with detailed information on borrowing terms, we compare the borrowing response to Hurricane Harvey in parts of Houston that were more...

This paper develops an economic framework for analyzing and estimating the behavioral effects of disasters and their consequences for disaster losses. The reduction of these losses represents some of the benefits of pre-disaster mitigation and post-disaster recovery. We provide definitions,...

This paper analyzes the implications of a gradual increase in the frequency of climatic disasters for public debt sustainability and sovereign default risk. I develop a simple stochastic model of sovereign default that allows for time-varying probability of climatic disasters. I show that the...

Catastrophe insurance is an important element of disaster management. Yet the historic presence of inequalities in insurance, from redlining to pricing disparity, has had a devastating impact on minority communities. While the fairness of insurance ratemaking has been studied in general, we...

Building on the negative to mixed effects of natural disasters on entrepreneurial activity, we posit that regional rugged individualism attenuates the decline in business activity following natural disasters. We find that greater property damage from natural disasters in the presence of greater...

This paper assesses the impact of climate-related disasters on medium-term growth and analyzes key structural areas that could substantially improve disaster-resilience. Results show that (i) climaterelated disasters have a significant negative impact on medium-term growth, especially for...

We study how the urban context of a disaster affects protection decisions against catastrophes using the 1995 Kobe earthquake, which is highly relevant to urban life but difficult to link with rural life. We use a Bayesian approach to identify regions with major cities where the sensitivities of...

Background: Vietnam is one of the countries most impacted by disasters in Asia- Pacific. Floods, droughts and storms are the most common catastrophes. These risks endanger millions of lives and create massive financial and production losses.Objective: This study aims at reviewing the disaster...

The disruption of natural disasters in agriculture is often seen to have influenced price indices to some extent over a certain period, especially in a relatively isolationist, predominantly agricultural economy such as ancient China. Here we use the information about historical disasters kept...

This paper shows that climate risk mitigation strategies are priced in financial markets. Using extreme weather and natural capital loss shocks, I demonstrate that the municipal bond market starts to price natural capital following an extreme weather event. The yield spread between counties that...

Disasters usually pose a big threat to work continuity and job stability, thus having important consequences for workers’ labor market outcomes (i.e., unemployment, work absence, and lay off). Furthermore, according to the prior literature on disaster management, disaster-induced labor market...

This study uses hedonic property models to explore how coastal real estate markets subject to heterogeneous information treatments respond to flood risk. We identify reactions to flood risk, distinctly from price effects due to flood damage, by examining non-local flooding events. Utilizing a...

The long-term effects of recurrent natural disasters on economic development remain an open question in the existing literature. It is partly because recurrent disasters, unlike one-off catastrophic events, repeatedly strike the same geographic region and have cumulative effects in the long run....

Based on CFPS2014 and CFPS2018 data, this paper investigates the impact of natural disasters on risky financial assets investment (RFAI) of Chinese urban households. The research shows that natural disasters can significantly reduce the decision and intensity of household RFAI. Families with...

Emissions control cannot address the consequences of global warming for weather disasters until decades later. We model regional-level mitigation or adaptation, which reduces disaster risks to capital in the interim. Mitigation depends on belief regarding the adverse consequences of global...

This research aims to find out and describe the implementation regional disaster Management Agency (BPBD) Kendari function in flood disaster management in the Wanggu River, Kendari. The research used a qualitative descriptive where data were collected using interviews, observation and...

Disaster mitigation is an early session of disaster management that is more towards reducing disaster risk for disaster-prone areas as an effort to minimize the higher risks caused by natural disasters. The purpose of this research is to discuss disaster management policies in disaster-prone...

Covid-19 is a cascading systemic disaster. The impact of the pandemic radiates over vulnerable social segments. Its costs are universal, but excess profits take advantage of some economic sectors. The public need is the response to the emergency, but under the code of global capital, it does not...

The 2012 flood is one of the most devastating flood events in Nigeria in the last few decades. Flood incidence has become an annual event in many parts of the state destroying buildings, farmland, lives, and other valuable properties. The increasing spate of flood incidence in Nigeria and...

The Messina-Reggio Calabria Earthquake (1908) was the most devastating natural disaster in modern European history. It occurred when overseas mass emigration from southern Italy was at its peak and international borders were open, making emigration a readily available option for relief. We use...