Publication:
CATalytic Insurance : The Case of Natural Disasters

Simple item page
dc.contributor.authorCordella, Tito
dc.contributor.authorYeyati, Eduardo Levy
dc.date.accessioned2012-03-19T18:41:07Z
dc.date.available2012-03-19T18:41:07Z
dc.date.issued2010-07-01
dc.description.abstractWhy should countries buy expensive catastrophe insurance? Abstracting from risk aversion or hedging motives, this paper shows that catastrophe insurance may have a catalytic role on external finance. Such effect is particularly strong in those middle-income countries that face financial constraints when hit by a shock or in its anticipation. Insurance makes defaults less appealing, relaxes countries' borrowing constraint, increases their creditworthiness, and enhances their access to capital markets. Catastrophe lending facilities providing "cheap" reconstruction funds in the aftermath of a natural disaster weaken but do not eliminate the demand for insurance.en
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100726082621
dc.identifier.doi10.1596/1813-9450-5377
dc.identifier.urihttps://hdl.handle.net/10986/3861
dc.languageEnglish
dc.relation.ispartofseriesPolicy Research working paper ; no. WPS 5377
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCESS TO CAPITAL
dc.subjectACCESS TO CAPITAL MARKET
dc.subjectACCESS TO CAPITAL MARKETS
dc.subjectACCESS TO CREDIT
dc.subjectACCESS TO INSURANCE
dc.subjectADVERSE SELECTION
dc.subjectAGENCY COSTS
dc.subjectAMOUNT OF CAPITAL
dc.subjectBAILOUTS
dc.subjectBOND ISSUANCE
dc.subjectBOND MARKET
dc.subjectBORROWER
dc.subjectBORROWING
dc.subjectBORROWING CONSTRAINTS
dc.subjectBORROWING COST
dc.subjectBORROWING COSTS
dc.subjectCAPITAL INVESTMENT
dc.subjectCAPITAL MARKETS
dc.subjectCAPITAL NEEDS
dc.subjectCATASTROPHE BOND
dc.subjectCATASTROPHE BONDS
dc.subjectCOLLATERAL
dc.subjectCONSUMPTION SMOOTHING
dc.subjectCOORDINATION FAILURES
dc.subjectCOST OF CAPITAL
dc.subjectCOUPON
dc.subjectCREDIT LINE
dc.subjectCREDIT MARKETS
dc.subjectCREDIT RISK
dc.subjectCREDITOR
dc.subjectCREDITORS
dc.subjectCREDITWORTHINESS
dc.subjectDEBT
dc.subjectDEBT ISSUANCE
dc.subjectDEBT OBLIGATIONS
dc.subjectDEFAULT CASE
dc.subjectDEFAULT COSTS
dc.subjectDEFAULT RISK
dc.subjectDEFAULTS
dc.subjectDERIVATIVE
dc.subjectDEVELOPING COUNTRIES
dc.subjectECONOMIC COSTS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC LOSSES
dc.subjectEVENT OF DEFAULT
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATE REGIME
dc.subjectEXPENDITURE
dc.subjectEXPOSURE
dc.subjectEXTERNAL DEBT
dc.subjectEXTERNAL FINANCE
dc.subjectFAIR PRICE
dc.subjectFINANCIAL CONSTRAINTS
dc.subjectFINANCIAL FLOWS
dc.subjectFINANCIAL STUDIES
dc.subjectGOVERNMENT INTERVENTION
dc.subjectINCOME
dc.subjectINCOME LEVEL
dc.subjectINCOME LEVELS
dc.subjectINCOME SMOOTHING
dc.subjectINCOMES
dc.subjectINDEBTEDNESS
dc.subjectINNOVATIONS
dc.subjectINSTRUMENT
dc.subjectINSURANCE
dc.subjectINSURANCE MARKET
dc.subjectINSURANCE MARKETS
dc.subjectINSURANCE POLICIES
dc.subjectINSURANCE POLICY
dc.subjectINSURANCE PREMIUM
dc.subjectINSURANCE PREMIUMS
dc.subjectINSURANCES
dc.subjectINSURER
dc.subjectINTEREST RATE
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL CAPITAL
dc.subjectINTERNATIONAL CAPITAL MARKET
dc.subjectINTERNATIONAL ECONOMICS
dc.subjectINVESTING
dc.subjectINVESTMENT OPPORTUNITIES
dc.subjectINVESTMENT OPPORTUNITY
dc.subjectISSUANCE
dc.subjectLEVEL OF INDEBTEDNESS
dc.subjectLEVY
dc.subjectLIQUIDITY
dc.subjectLIQUIDITY CRISIS
dc.subjectLOAN
dc.subjectLOAN AMOUNTS
dc.subjectLOW-INCOME COUNTRIES
dc.subjectMARKET ACCESS
dc.subjectMARKET DISCIPLINE
dc.subjectMIDDLE-INCOME COUNTRIES
dc.subjectMIDDLE-INCOME COUNTRY
dc.subjectMORAL HAZARD
dc.subjectMULTILATERAL LENDER
dc.subjectMULTILATERAL LENDERS
dc.subjectNATURAL DISASTER
dc.subjectNATURAL DISASTERS
dc.subjectNEGATIVE SHOCK
dc.subjectOUTPUT
dc.subjectPOLITICAL ECONOMY
dc.subjectPRIVATE CREDITORS
dc.subjectPRIVATE LENDERS
dc.subjectPRIVATE LENDING
dc.subjectPRIVATE MARKETS
dc.subjectPROBABILITY OF DEFAULT
dc.subjectPRODUCTIVITY
dc.subjectPUBLIC FINANCES
dc.subjectRECIPIENT COUNTRY
dc.subjectREPAYMENT
dc.subjectRETURN
dc.subjectRISK AVERSION
dc.subjectRISK NEUTRAL
dc.subjectRISK OF DEBT
dc.subjectRISK OF DEBT REPUDIATION
dc.subjectRISK PREMIUM
dc.subjectRISK-FREE RATE
dc.subjectSECURITIZATION
dc.subjectSOVEREIGN DEBT
dc.subjectSOVEREIGN DEFAULT
dc.subjectVOLATILITY
dc.titleCATalytic Insurance : The Case of Natural Disastersen
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.crossref.titleCatalytic Insurance : The Case Of Natural Disasters
okr.date.disclosure2010-07-26
okr.date.doiregistration2025-04-10T11:44:36.421261Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100726082621
okr.globalpracticeSocial Protection and Labor
okr.guid847871468160782561
okr.identifier.doi10.1596/1813-9450-5377
okr.identifier.externaldocumentum000158349_20100726082621
okr.identifier.internaldocumentum12583312
okr.identifier.reportWPS5377
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2010/07/26/000158349_20100726082621/Rendered/PDF/WPS5377.pdfen
okr.region.administrativeWorld
okr.region.administrativeWorld
okr.topicSocial Protections and Labor::Labor Policies
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
Files
Original bundle
Now showing 1 - 2 of 2
Thumbnail Image
Name:
WPS5377.pdf
Size:
751.24 KB
Format:
Adobe Portable Document Format
Download
No Thumbnail Available
Name:
WPS5377.txt
Size:
104.48 KB
Format:
Plain Text
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Plain Text
Description:
Download
Collections
Policy Research Working Papers