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Naturally Negative: The Growth Effects of Natural Disasters

Growth theory predicts that natural disasters should, on impact, lower GDP per capita. However, the empirical literature does not offer conclusive evidence. Most existing studies use disaster data drawn from damage records of insurance companies. We argue that this may lead to estimation bias as damage data and the selection into the database may correlate with GDP. We build a comprehensive database of disaster events and their intensities from primary geophysical and meteorological information. In contrast to insurance data, our GeoMet data reveal a substantial negative and robust average impact effect of disasters on growth. The worst 5% disaster years come with a growth damage of at least 0.45 percentage points. That average effect is driven mainly by very large earthquakes and some meteorological disasters. Poor countries are more strongly affected by geophysical disasters; rich more by meteorological events. International openness and democratic institutions reduce the adverse effect of disasters…

 

A toolkit for community resilience

A few weeks ago I had the great pleasure of presenting at the Sustainable Economic Growth for Regional Australia (SEGRA) conference in Coffs Harbour, NSW Australia. During the panel on Thursday 17 October we created a toolkit for building community resilience using the Kickstart model as a guide…

 

A $100 Million Urban Resilience Effort To Help Cities Survive The Next Superstorm

Superstorm Sandy showed New York’s vulnerability to big weather, and offered a warning to the world. If a moderately severe hurricane could incapacitate a city as great as New York, less wealthy and prepared places could be in for something worse. Up to 75% of the planet is set to live in cities by 2050, just as climate change threatens to make exceptional weather less exceptional. Urban areas are more at risk than ever, yet have never been more crowded…

 

State drafts disaster paper

GOVERNMENT is drafting a standard operating procedure for any Post Disaster Needs Assessment (PDNA) that will form the basis of operations of any PDNA in future. Speaking at the closing of the PDNA workshop in Labasa yesterday, acting commissioner northern Alipate Bolalevu said natural disasters were times when the whole-of-government approach was needed. Mr Bolalevu said as the divisional arm responsible for these efforts, they were fully committed to implementing government’s wishes of implementing the PDNA…

 

Emergency Preparation for Pet Owners

Hawaii is vulnerable to tropical storms, tsunamis and other natural disasters. With hurricane season in full swing, now is a great time to prepare for potential emergencies. September is National Preparedness month and quality disaster planning takes every possibility into consideration including the safety of pets.  In the case of a natural disaster, the most vulnerable areas are low-lying and beach or stream areas that can be flooded, and hillsides, which can have landslides after heavy rain. Those residing in high-risk areas should arrange in advance to stay with a friend who lives on higher ground…

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This entry was posted on 04/11/2013 by in NEWS and tagged , , .

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