Publication:
Natural Disasters and Fiscal Drought

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dc.contributor.authorMilivojevic, Lazar
dc.date.accessioned2023-02-14T16:01:20Z
dc.date.accessioned2023-03-06T15:54:05Z
dc.date.available2023-02-14T16:01:20Z
dc.date.available2023-03-06T15:54:05Z
dc.date.issued2023-02
dc.description.abstractThis paper examines to what extent slowdowns in economic growth after natural disasters are accompanied by widening fiscal deficits and corresponding pressures on public debt. Empirical analysis based on exogenous measures of physical disaster intensity shows that natural disasters lead not only to output losses but also to further deterioration of countries’ fiscal positions. The effects are persistent and driven by developments in emerging markets and developing economies. A dynamic stochastic general equilibrium model is used to show the propagation mechanism of an extreme event that affects agricultural productivity. The model features farmers endowed with land with time-varying productivity subject to economic and weather conditions. Simulation results illustrate the climate-fiscal nexus existence and highlight the role of structural resilience in limiting the impact of natural disasters.en
dc.identifierhttp://documents.worldbank.org/curated/en/099522502072316483/IDU07bc00319084e604479091310142907db69fd
dc.identifier.doi10.1596/1813-9450-10298
dc.identifier.urihttps://hdl.handle.net/10986/39416
dc.languageEnglish
dc.language.isoen
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Papers;10298
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectAGRICULTURAL IMPACT OF NATURAL DISASTERS
dc.subjectCLIMATE-FISCAL NEXUS
dc.subjectSTRUCTURAL RESILIENCE
dc.subjectNATURAL DISASTERS
dc.subjectFISCAL SUSTAINABILITY
dc.subjectCLIMATE CHANGE
dc.titleNatural Disasters and Fiscal Droughten
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleNatural Disasters and Fiscal Drought
okr.date.disclosure2023-02-07
okr.date.doiregistration2025-04-10T11:21:55.563946Z
okr.date.lastmodified2023-02-07T00:00:00Zen
okr.doctypeWorking Papers
okr.doctypeWorking Papers::Policy Research Working Papers
okr.docurlhttp://documents.worldbank.org/curated/en/099522502072316483/IDU07bc00319084e604479091310142907db69fd
okr.guid099522502072316483
okr.identifier.doi10.1596/1813-9450-10298
okr.identifier.externaldocumentumIDU-7bc00319-84e6-4479-9131-142907db69fd
okr.identifier.internaldocumentum33997256
okr.identifier.reportWPS10298
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099522502072316483/pdf/IDU07bc00319084e604479091310142907db69fd.pdfen
okr.region.administrativeSouth Asia
okr.topicEnvironment::Natural Disasters
okr.topicMacroeconomics and Economic Growth::Fiscal Adjustment
okr.topicAgriculture::Climate Change and Agriculture
okr.topicEnvironment::Climate Change Impacts
okr.topicMacroeconomics and Economic Growth::Climate Change Economics
okr.unitOffice of the Chief Economist (SARCE)
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