The Economic Impact Of Natural Disasters In Pacific Island Countries Adaptation And Preparedness

Author : Dongyeol Lee,Huan Zhang,Chau Nguyen
Publisher : International Monetary Fund
Page : 37 pages
File Size : 48,6 Mb
Release : 2018-05-10
Category : Nature
ISBN : 9781484353288

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The Economic Impact of Natural Disasters in Pacific Island Countries: Adaptation and Preparedness by Dongyeol Lee,Huan Zhang,Chau Nguyen Pdf

Pacific island countries are highly vulnerable to various natural disasters which are destructive, unpredictable and occur frequently. The frequency and scale of these shocks heightens the importance of medium-term economic and fiscal planning to minimize the adverse impact of disasters on economic development. This paper identifies the intensity of natural disasters for each country in the Pacific based on the distribution of damage and population affected by disasters, and estimates the impact of disasters on economic growth and international trade using a panel regression. The results show that “severe” disasters have a significant and negative impact on economic growth and lead to a deterioration of the fiscal and trade balance. We also find that the negative impact on growth is stronger for more intense disasters. Going further this paper proposes a simple and consistent method to adjust IMF staff’s economic projections and debt sustainability analysis for disaster shocks for the Pacific islands. Better incorporating the economic impact of natural disasters in the medium- and long-term economic planning would help policy makers improve fiscal policy decisions and to be better adapted and prepared for natural disasters.

Author : Asian Development Bank
Publisher : Unknown
Page : 28 pages
File Size : 45,8 Mb
Release : 2018-04
Category : Business & Economics
ISBN : 9292611186

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Economic and Fiscal Impacts of Disasters in the Pacific by Asian Development Bank Pdf

Pacific island countries need to build their fiscal and economic resilience to climate change and natural disasters as these have lasting consequences on their livelihoods, economies, and fiscal balances. Climate change and natural disasters can have lasting consequences on livelihoods, economies, and fiscal balances-spanning immediate reconstruction costs and fiscal shocks to long-term halts in tourism and agriculture economies. Globally, the most exposed to these impacts are the Pacific island countries. The Asian Development Bank is working closely with its Pacific developing member countries to prepare for and respond to the effects of climate change and natural hazards. This publication examines the often-overlooked dimension of resilience planning-how to brace economies for shocks caused by climate change and hazard events. It analyzes the exposure and vulnerability of Pacific economies to disaster events and outlines key resources for building fiscal and economic resilience.

Author : Ezequiel Cabezon,Ms. Leni Hunter,Ms. Patrizia Tumbarello,Kazuaki Washimi,Mr. Yiqun Wu
Publisher : International Monetary Fund
Page : 37 pages
File Size : 42,7 Mb
Release : 2015-06-19
Category : Business & Economics
ISBN : 9781513577074

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Enhancing Macroeconomic Resilience to Natural Disasters and Climate Change in the Small States of the Pacific by Ezequiel Cabezon,Ms. Leni Hunter,Ms. Patrizia Tumbarello,Kazuaki Washimi,Mr. Yiqun Wu Pdf

Natural disasters and climate change are interrelated macro-critical issues affecting all Pacific small states to varying degrees. In addition to their devastating human costs, these events damage growth prospects and worsen countries’ fiscal positions. This is the first cross-country IMF study assessing the impact of natural disasters on growth in the Pacific islands as a group. A panel VAR analysis suggests that, for damage and losses equivalent to 1 percent of GDP, growth drops by 0.7 percentage point in the year of the disaster. We also find that, during 1980-2014, trend growth was 0.7 percentage point lower than it would have been without natural disasters. The paper also discusses a multi-pillar framework to enhance resilience to natural disasters at the national, regional, and multilateral levels and the importance of enhancing countries’ risk-management capacities. It highlights how this approach can provide a more strategic and less ad hoc framework for strengthening both ex ante and ex post resilience and what role the IMF can play.

Author : Hidetaka Nishizawa,Mr.Scott Roger,Huan Zhang
Publisher : International Monetary Fund
Page : 31 pages
File Size : 52,6 Mb
Release : 2019-07-12
Category : Nature
ISBN : 9781513507989

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Fiscal Buffers for Natural Disasters in Pacific Island Countries by Hidetaka Nishizawa,Mr.Scott Roger,Huan Zhang Pdf

Pacific island countries (PICs) are vulnerable severe natural disasters, especially cyclones, inflicting large losses on their economies. In the aftermath of disasters, PIC governments face revenue losses and spending pressures to address post-disaster relief and recovery efforts. This paper estimates the effects of severe natural disasters on fiscal revenues and expenditure in PICs. These are combined with information on the frequency of large disasters to calculate the rate of budgetary savings needed to build appropriate fiscal buffers. Fiscal buffers provide self-insurance against natural disaster shocks and facilitate quick disbursement for recovery and relief efforts, and protection of spending on essential services and infrastructure. The estimates can provide a benchmark for policymakers, and should be adjusted to take into account other sources of financing, as well as budget risks from less severe as well as more frequent disasters.

Author : Dongyeol Lee,Huan Zhang,Chau Nguyen
Publisher : International Monetary Fund
Page : 37 pages
File Size : 41,7 Mb
Release : 2018-05-10
Category : Business & Economics
ISBN : 9781484356388

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The Economic Impact of Natural Disasters in Pacific Island Countries: Adaptation and Preparedness by Dongyeol Lee,Huan Zhang,Chau Nguyen Pdf

Pacific island countries are highly vulnerable to various natural disasters which are destructive, unpredictable and occur frequently. The frequency and scale of these shocks heightens the importance of medium-term economic and fiscal planning to minimize the adverse impact of disasters on economic development. This paper identifies the intensity of natural disasters for each country in the Pacific based on the distribution of damage and population affected by disasters, and estimates the impact of disasters on economic growth and international trade using a panel regression. The results show that “severe” disasters have a significant and negative impact on economic growth and lead to a deterioration of the fiscal and trade balance. We also find that the negative impact on growth is stronger for more intense disasters. Going further this paper proposes a simple and consistent method to adjust IMF staff’s economic projections and debt sustainability analysis for disaster shocks for the Pacific islands. Better incorporating the economic impact of natural disasters in the medium- and long-term economic planning would help policy makers improve fiscal policy decisions and to be better adapted and prepared for natural disasters.

Author : John R. Campbell
Publisher : Unknown
Page : 66 pages
File Size : 47,6 Mb
Release : 2006
Category : Disaster relief
ISBN : STANFORD:36105124302204

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Traditional Disaster Reduction in Pacific Island Communities by John R. Campbell Pdf

Author : Debarati Guha-Sapir,Indhira Santos,Alexandre Borde, Managing Editor
Publisher : Oxford University Press, USA
Page : 344 pages
File Size : 49,5 Mb
Release : 2013-04-04
Category : Business & Economics
ISBN : 9780199339808

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The Economic Impacts of Natural Disasters by Debarati Guha-Sapir,Indhira Santos,Alexandre Borde, Managing Editor Pdf

Since the turn of the millennium, more than one million people have been killed and 2.3 billion others have been directly affected by natural disasters around the world. In cases like the 2010 Haiti earthquake or the 2004 Indian Ocean tsunami, these disasters have time and time again wrecked large populations and national infrastructures. While recognizing that improved rescue, evacuation, and disease control are crucial to reducing the effects of natural disasters, in the final analysis, poverty remains the main risk factor determining the long-term impact of natural hazards. Furthermore, natural disasters have themselves a tremendous impact on the poorest of the poor, who are often ill-prepared to deal with natural hazards and for whom a hurricane, an earthquake, or a drought can mean a permanent submersion in poverty. The Economic Impacts of Natural Disasters focuses on these concerns for poverty and vulnerability. Written by a collection of esteemed scholars in disaster management and sustainable development, the report provides an overview of the general trends in natural disasters and their effects by focusing on a critical analysis of different methodologies used to assess the economic impact of natural disasters. Economic Impacts presents six national case studies (Bangladesh, Vietnam, India, Nicaragua, Japan and the Netherlands) and shows how household surveys and country-level macroeconomic data can analyze and quantify the economic impact of disasters. The researchers within Economic Impacts have created path-breaking work and have opened new avenues for thinking and debate to push forward the frontiers of knowledge on economics of natural disasters.

Author : Charlotte Benson,Edward J. Clay
Publisher : World Bank Publications
Page : 136 pages
File Size : 47,9 Mb
Release : 2004
Category : Electronic
ISBN : 0821356852

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Understanding the economic and financial impacts of natural disasters by Charlotte Benson,Edward J. Clay Pdf

Author : Anonim
Publisher : Unknown
Page : 0 pages
File Size : 54,9 Mb
Release : 2013
Category : Emergency management
ISBN : 9292541951

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The Rise of Natural Disasters in Asia and the Pacific by Anonim Pdf

Author : Mr.Si Guo,Mr.Futoshi Narita
Publisher : International Monetary Fund
Page : 22 pages
File Size : 45,5 Mb
Release : 2018-07-06
Category : Business & Economics
ISBN : 9781484367896

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Self-insurance Against Natural Disasters: The Use of Pension Funds in Pacific Island Countries by Mr.Si Guo,Mr.Futoshi Narita Pdf

Pacific island countries are exposed to significant risks from natural disasters. As a disaster relief measure, Fiji allowed pre-retirement pension withdrawls in the wake of Cyclone Winston in 2016. Motivated by this policy action, we provide a normative analysis of the use of early pension withdrawals after disasters, by setting up a life-cycle saving model with myopic households facing large natural disaster shocks. The model demonstrates the key trade-off between building up sufficient retirement savings and ensuring the access to savings against natural disaster shocks, and sheds light on welfare implications of early pension withdrawals.

Author : International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Western Hemisphere Dept.,International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 55 pages
File Size : 46,7 Mb
Release : 2019-06-26
Category : Nature
ISBN : 9781498321020

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Building Resilience in Developing Countries Vulnerable to Large Natural Disasters by International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. Western Hemisphere Dept.,International Monetary Fund. Asia and Pacific Dept Pdf

This paper discusses how countries vulnerable to natural disasters can reduce the associated human and economic cost. Building on earlier work by IMF staff, the paper views disaster risk management through the lens of a three-pillar strategy for building structural, financial, and post-disaster (including social) resilience. A coherent disaster resilience strategy, based on a diagnostic of risks and cost-effective responses, can provide a road map for how to tackle disaster related vulnerabilities. It can also help mobilize much-needed support from the international community.

Author : Asian Development Bank
Publisher : Asian Development Bank
Page : 171 pages
File Size : 52,5 Mb
Release : 2013-01-01
Category : Business & Economics
ISBN : 9789290929505

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Investing in Resilience by Asian Development Bank Pdf

Investing in Resilience: Ensuring a Disaster-Resistant Future focuses on the steps required to ensure that investment in disaster resilience happens and that it occurs as an integral, systematic part of development. At-risk communities in Asia and the Pacific can apply a wide range of policy, capacity, and investment instruments and mechanisms to ensure that disaster risk is properly assessed, disaster risk is reduced, and residual risk is well managed. Yet, real progress in strengthening resilience has been slow to date and natural hazards continue to cause significant loss of life, damage, and disruption in the region, undermining inclusive, sustainable development. Investing in Resilience offers an approach and ideas for reflection on how to achieve disaster resilience. It does not prescribe specific courses of action but rather establishes a vision of a resilient future. It stresses the interconnectedness and complementarity of possible actions to achieve disaster resilience across a wide range of development policies, plans, legislation, sectors, and themes. The vision shows how resilience can be accomplished through the coordinated action of governments and their development partners in the private sector, civil society, and the international community. The vision encourages “investors” to identify and prioritize bundles of actions that collectively can realize that vision of resilience, breaking away from the current tendency to pursue disparate and fragmented disaster risk management measures that frequently trip and fall at unforeseen hurdles. Investing in Resilience aims to move the disaster risk reduction debate beyond rhetoric and to help channel commitments into investment, incentives, funding, and practical action

Author : Padma Narsey Lal,Jeff Kinch,Frank Wickham
Publisher : Unknown
Page : 58 pages
File Size : 49,9 Mb
Release : 2009
Category : Climatic changes
ISBN : 9820403936

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Review of Economic and Livelihood Impact Assessments Of, and Adaptation To, Climate Change in Melanesia by Padma Narsey Lal,Jeff Kinch,Frank Wickham Pdf

Author : Vinod Thomas
Publisher : Transaction Publishers
Page : 182 pages
File Size : 49,8 Mb
Release : 2017-01-31
Category : Business & Economics
ISBN : 9781412864527

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Climate Change and Natural Disasters by Vinod Thomas Pdf

The start of the new millennium will be remembered for deadly climate-related disasters—the great floods in Thailand in 2011, Super Storm Sandy in the United States in 2012, and Typhoon Haiyan in the Philippines in 2013, to name a few. In 2014, 17.5 million people were displaced by climate-related disasters, ten times more than the 1.7 million displaced by geophysical hazards. What is causing the increase in natural disasters and what effect does it have on the economy? Climate Change and Natural Disasters sends three messages: human-made factors exert a growing influence on climate-related disasters; because of the link to anthropogenic factors, there is a pressing need for climate mitigation; and prevention, including climate adaptation, ought not to be viewed as a cost to economic growth but as an investment. Ultimately, attention to climate-related disasters, arguably the most tangible manifestation of global warming, may help mobilize broader climate action. It can also be instrumental in transitioning to a path of low-carbon, green growth, improving disaster resilience, improving natural resource use, and caring for the urban environment. Vinod Thomas proposes that economic growth will become sustainable only if governments, political actors, and local communities combine natural disaster prevention and controlling climate change into national growth strategies. When considering all types of capital, particularly human capital, climate action can drive economic growth, rather than hinder it.

Author : International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 58 pages
File Size : 53,6 Mb
Release : 2018-09-10
Category : Business & Economics
ISBN : 9781484375723

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Republic of the Marshall Islands by International Monetary Fund. Asia and Pacific Dept Pdf

This 2018 Article IV Consultation highlight that growth in the Marshallese economy is estimated to have accelerated to about 3.5 percent in FY2017 (ending September 30) with a strong pick-up in fisheries and construction, with the latter owing to the resumption of infrastructure projects. Consumer prices started to rise again in mid-2017, with annual consumer price index inflation at 1.1 percent in 2017Q4. Growth is expected to remain robust at about 2.5 percent in FY2018 and about 1.5 percent over the medium term, underpinned by further increases in infrastructure spending. Inflation is expected to rise gradually to about 2 percent over the medium term.