The economic impact of natural disasters can be profound and multifaceted:
- Infrastructure Damage: Natural disasters such as earthquakes, floods, and hurricanes can destroy physical assets, leading to significant economic losses for businesses and communities1.
- Long-term Economic Effects: The economic repercussions extend beyond immediate damage, affecting long-term growth and recovery efforts in affected regions3.
- Macroeconomic Losses: Disasters generate macroeconomic losses through complex channels, necessitating effective management to mitigate welfare impacts4.
- Regional Variability: Different regions experience unique economic impacts based on their specific circumstances, such as reliance on tourism or existing inequalities2.
These factors illustrate the significant and lasting economic consequences of natural disasters on affected areas.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Natural disasters such as earthquakes, floods, typhoons, and hurricanes inflict serious damage and so seem to be bad for the economy. For firms, natural disasters destroy tangible assets such as buildings and equipment – as well as human capital – and thereby deteriorate their production capacity.
www.weforum.org/stories/2015/02/how-do-natural-…Take-Home Points
- Natural disasters have a lasting impact on affected regions that is beyond physical damage
- Different regions experience disasters in a number of ways that cause a unique economic impact
businessreview.studentorg.berkeley.edu/the-toll-of …Given the complex relationship between natural disasters and economic growth, researchers need to examine the potential effects of natural disasters in three distinctive phases: short-run (for example, emphasizing political transitions through economic growth), medium- to long-run (for example, focusing directly on natural disasters and ...
link.springer.com/article/10.1007/s13753-014-0022-5Natural disasters can generate substantial damages to public and private sector infrastructure capital, generating macro-economic losses through complex channels. To minimize the welfare impact of these disasters, these shocks need to be managed and accounted for in macro-fiscal and mon-etary policy.
documents1.worldbank.org/curated/en/479471645…Population and economic growth are still the main drivers of rising losses from natural disasters, but anthropogenic climate change may increase the frequency and/or intensity of future extreme weather events (Intergovernmental Panel on Climate Change 2014).
www.journals.uchicago.edu/doi/pdf/10.1093/reep/r…The Economic Impacts of Natural Disasters: A Review of Models …
Jun 25, 2019 · This article has reviewed the rapidly growing literature on the economic impacts of natural disasters and synthesized its main theoretical, computational, and empirical methods in order to distill the main findings and identify insights into factors that mitigate disaster impacts.
- Author: W. J.Wouter Botzen, W. J.Wouter Botzen, W. J.Wouter Botzen, Olivier Deschenes, Mark Sanders
- Publish Year: 2019
See results only from journals.uchicago.eduPDF
Our review of the literature focuses on the direct economic impacts and indirect (mac-ro)economic effects of natural disasters. Direct impacts refe…
The Economics of Natural Disasters | St. Louis Fed
May 3, 2018 · Hurricanes, wildfires, tornadoes and other natural disasters require insurance and carry costs. Learn about the economic impact of natural disasters and how the government serves affected citizens.
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How do natural disasters affect the economy? | World …
Feb 11, 2015 · Natural disasters such as earthquakes, floods, typhoons, and hurricanes inflict serious damage and so seem to be bad for the economy. For firms, natural disasters destroy tangible assets such as buildings and …
Jun 25, 2019 · Our review of the literature focuses on the direct economic impacts and indirect (mac-ro)economic effects of natural disasters. Direct impacts refer to the damage to assets …
The Economic Impacts of Natural Disasters: A Review …
Jul 1, 2019 · Natural disasters, such as hurricanes, floods, ocean currents, volcanic eruptions, and solar variations cause many serious disturbances to the environment. Economic losses due to such...
Economic Impact of Natural Disasters: An Empirical Re …
Dec 6, 2018 · This study re-examines the relationship between natural disasters and economic growth. It aims to contribute to a fairly limited literature on the economy-wide and sector-specific consequences of natural disasters in the …
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Mar 1, 2021 · Direct economic damage from extreme weather events has been growing faster than GDP for decades, and projections indicate that this trend will continue. The impacts of natural disasters clearly extend beyond the physical …
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Nov 25, 2024 · The economic impact of disasters varies significantly depending on the type— events like hurricanes or tornadoes, which tend to be short-lived, have shorter periods of …
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