Publication:
Natural Disasters and Growth : Going beyond the Averages

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dc.contributor.authorLoayza, Norman
dc.contributor.authorOlaberria, Eduardo
dc.contributor.authorRigolini, Jamele
dc.contributor.authorChristiaensen, Luc
dc.date.accessioned2012-03-19T19:11:14Z
dc.date.available2012-03-19T19:11:14Z
dc.date.issued2009-06-01
dc.description.abstractThere has been a steady increase in the occurrence of natural disasters. Yet their effect on economic growth remains unclear, with some studies reporting negative, and others indicating no, or even positive effects. These seemingly contradictory findings can be reconciled by exploring the effects of natural disasters on growth separately by disaster and economic sector. This is consistent with the insights from traditional models of economic growth, where production depends on total factor productivity, the provision of intermediate outputs, and the capital-labor ratio, as well as the existence of important intersector linkages. Applying a dynamic Generalized Method of Moments panel estimator to a 1961-2005 cross-country panel, three major insights emerge. First, disasters affect economic growth - but not always negatively, and differently across disasters and economic sectors. Second, although moderate disasters can have a positive growth effect in some sectors, severe disasters do not. Third, growth in developing countries is more sensitive to natural disasters - more sectors are affected and the magnitudes are non-trivial.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_20090629153246
dc.identifier.doi10.1596/1813-9450-4980
dc.identifier.urihttps://hdl.handle.net/10986/4172
dc.languageEnglish
dc.relation.ispartofseriesPolicy Research working paper ; no. WPS 4980
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectABUNDANCE
dc.subjectAGGREGATE OUTPUT
dc.subjectAGRICULTURAL GROWTH
dc.subjectAGRICULTURAL PRODUCTION
dc.subjectAGRICULTURAL SECTOR
dc.subjectANNUAL GROWTH
dc.subjectANNUAL GROWTH RATE
dc.subjectBANKING CRISIS
dc.subjectBUSINESS CYCLES
dc.subjectCAPITAL ACCUMULATION
dc.subjectCAPITAL INCREASES
dc.subjectCASUALTIES
dc.subjectCENTRE FOR RESEARCH ON THE EPIDEMIOLOGY
dc.subjectCLIMATE CHANGE
dc.subjectCONSUMER PRICE
dc.subjectCONSUMER PRICE INDEX
dc.subjectCOUNTRY CASE
dc.subjectCOUNTRY REGRESSIONS
dc.subjectCOVARIANCE MATRIX
dc.subjectCRED
dc.subjectCROSS-COUNTRY ANALYSIS
dc.subjectDAMAGES
dc.subjectDATABASE ON DISASTERS
dc.subjectDEATH TOLL
dc.subjectDECLARATION
dc.subjectDEPENDENT VARIABLE
dc.subjectDESCRIPTIVE STATISTICS
dc.subjectDEVELOPED COUNTRIES
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING WORLD
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDEVELOPMENT INDICATORS
dc.subjectDEVELOPMENT RESEARCH
dc.subjectDISASTER
dc.subjectDISASTER ASSISTANCE
dc.subjectDISASTER REDUCTION
dc.subjectDISASTER RISK
dc.subjectDISASTER RISK REDUCTION
dc.subjectDISASTER TYPE
dc.subjectDISASTER TYPES
dc.subjectDISTRIBUTIONAL IMPACT
dc.subjectDOMESTIC CREDIT
dc.subjectDROUGHT
dc.subjectDROUGHTS
dc.subjectDYNAMIC PANEL
dc.subjectEARTHQUAKE
dc.subjectEARTHQUAKES
dc.subjectECONOMIC ACTIVITIES
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC IMPACT
dc.subjectECONOMIC STUDIES
dc.subjectECONOMICS
dc.subjectECONOMICS LETTERS
dc.subjectEMPIRICAL LITERATURE
dc.subjectEMPIRICAL RESULTS
dc.subjectEMPLOYMENT EQUATIONS
dc.subjectERROR TERM
dc.subjectESTIMATION METHOD
dc.subjectESTIMATION RESULTS
dc.subjectEXPLANATORY VARIABLES
dc.subjectEXTERNAL CONDITIONS
dc.subjectEXTERNAL SHOCKS
dc.subjectFAMINE
dc.subjectFINANCIAL DEPTH
dc.subjectFINANCIAL DEVELOPMENT
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFISCAL POLICY
dc.subjectFIXED EFFECTS
dc.subjectFLOOD
dc.subjectFLOODING
dc.subjectFLOODS
dc.subjectGLOBAL CONDITIONS
dc.subjectGOVERNMENT CONSUMPTION
dc.subjectGOVERNMENT SPENDING
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROWTH DETERMINANTS
dc.subjectGROWTH EFFECT
dc.subjectGROWTH EFFECTS
dc.subjectGROWTH MODEL
dc.subjectGROWTH PATTERN
dc.subjectGROWTH PERFORMANCE
dc.subjectGROWTH RATE
dc.subjectGROWTH RATES
dc.subjectGROWTH REGRESSION
dc.subjectGROWTH REGRESSION EQUATION
dc.subjectGROWTH REGRESSIONS
dc.subjectHIGH INFLATION
dc.subjectHOUSEHOLD DATA
dc.subjectIMPACT OF DISASTERS
dc.subjectINCOME
dc.subjectINCREASE GROWTH
dc.subjectINCREASES GROWTH
dc.subjectINDUSTRIAL SECTOR
dc.subjectINFLATION RATE
dc.subjectINFRASTRUCTURE DAMAGE
dc.subjectINFRASTRUCTURE PROVISION
dc.subjectINSTRUMENTAL-VARIABLE
dc.subjectINSURANCE
dc.subjectINSURANCE COMPANIES
dc.subjectINTERACTION TERM
dc.subjectINTERACTION TERMS
dc.subjectINTERNATIONAL MONETARY FUND
dc.subjectINTERNATIONAL TRADE
dc.subjectLAGGED DEPENDENT
dc.subjectLAGGED LEVELS
dc.subjectLAGGED VALUES
dc.subjectLEVEL OF OUTPUT PER CAPITA
dc.subjectLONG RUN
dc.subjectLONG-RUN GROWTH
dc.subjectMACROECONOMIC FLUCTUATIONS
dc.subjectMACROECONOMIC POLICIES
dc.subjectMACROECONOMIC STABILIZATION
dc.subjectMACROECONOMIC VOLATILITY
dc.subjectMARGINAL PRODUCT
dc.subjectMARGINAL RETURNS
dc.subjectMONETARY ECONOMICS
dc.subjectNATURAL DISASTER
dc.subjectNATURAL DISASTERS
dc.subjectNATURAL HAZARDS
dc.subjectNEGATIVE EFFECT
dc.subjectNEGATIVE IMPACT
dc.subjectNEGATIVE SIGN
dc.subject0 HYPOTHESIS
dc.subjectOUTPUT GROWTH
dc.subjectPER CAPITA GROWTH
dc.subjectPOINT ESTIMATES
dc.subjectPOLICY RESEARCH
dc.subjectPOVERTY REDUCING
dc.subjectPOVERTY REDUCTION
dc.subjectPRIVATE DOMESTIC
dc.subjectPRIVATE DOMESTIC CREDIT
dc.subjectPUBLIC INFRASTRUCTURE
dc.subjectRECONSTRUCTION
dc.subjectREGRESSION MODEL
dc.subjectRELATIVE IMPORTANCE
dc.subjectRELIEF
dc.subjectRELIEF ACTIVITIES
dc.subjectREVERSE CAUSATION
dc.subjectREVIEW OF ECONOMICS
dc.subjectRICH ECONOMIES
dc.subjectSAVING RATE
dc.subjectSAVINGS
dc.subjectSERIAL CORRELATION
dc.subjectSHARP REDUCTION
dc.subjectSIGNIFICANT EFFECT
dc.subjectSOCIAL PROTECTION
dc.subjectSTABILIZATION POLICIES
dc.subjectSTANDARD GROWTH DETERMINANTS
dc.subjectSTORM
dc.subjectSTORMS
dc.subjectTRADE OPENNESS
dc.subjectTRADE SHOCKS
dc.subjectTRANSITIONAL CONVERGENCE
dc.subjectTYPE OF DISASTER
dc.subjectUNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENT
dc.titleNatural Disasters and Growth : Going beyond the Averagesen
dspace.entity.typePublication
okr.crossref.titleNatural Disasters And Growth - Going Beyond The Averages
okr.date.doiregistration2025-04-10T12:16:29.572074Z
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_20090629153246
okr.globalpracticePoverty
okr.guid626581468331185998
okr.identifier.doi10.1596/1813-9450-4980
okr.identifier.externaldocumentum000158349_20090629153246
okr.identifier.internaldocumentum10750116
okr.identifier.reportWPS4980
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2009/06/29/000158349_20090629153246/Rendered/PDF/WPS4980.pdfen
okr.region.administrativeThe World Region
okr.region.administrativeThe World Region
okr.topicPoverty Reduction::Achieving Shared Growth
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isAuthorOfPublicationb51f7805-9174-58dc-a585-0ca1b7edbebc
relation.isAuthorOfPublicationedddec25-fd05-5c5a-b900-c6e67e3312a4
relation.isAuthorOfPublication.latestForDiscoveryb51f7805-9174-58dc-a585-0ca1b7edbebc
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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