Publication:
Economic Resilience : Definition and Measurement

Simple item page
dc.contributor.authorHallegatte, Stephane
dc.date.accessioned2014-05-15T15:53:03Z
dc.date.available2014-05-15T15:53:03Z
dc.date.issued2014-05
dc.description.abstractThe welfare impact of a disaster does not only depend on the physical characteristics of the event or its direct impacts in terms of lost lives and assets. Welfare impacts also depend on the ability of the economy to cope, recover, and reconstruct and therefore to minimize aggregate consumption losses. This ability can be referred to as the macroeconomic resilience to natural disasters. Macroeconomic resilience has two components: instantaneous resilience, which is the ability to limit the magnitude of immediate production losses for a given amount of asset losses, and dynamic resilience, which is the ability to reconstruct and recover. Welfare impacts also depend on micro-economic resilience, which depends on the distribution of losses; on households' vulnerability, such as their pre-disaster income and ability to smooth shocks over time with savings, borrowing, and insurance, and on the social protection system, or the mechanisms for sharing risks across the population. The (economic) welfare disaster risk in a country can be reduced by reducing the exposure or vulnerability of people and assets (reducing asset losses), increasing macroeconomic resilience (reducing aggregate consumption losses for a given level of asset losses), or increasing microeconomic resilience (reducing welfare losses for a given level of aggregate consumption losses). The paper proposes rules of thumb to estimate macroeconomic and microeconomic resilience based on the relevant parameters in the economy. It also provides a toolbox of policies to increase macro- or micro-economic resilience and a list of indicators that can be used to build a resilience indicator.en
dc.identifierhttp://documents.worldbank.org/curated/en/2014/05/19456702/economic-resilience-definition-measurement-economic-resilience-definition-measurement
dc.identifier.doi10.1596/1813-9450-6852
dc.identifier.urihttps://hdl.handle.net/10986/18341
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 6852
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectADVERSE CONSEQUENCES
dc.subjectAIR POLLUTION
dc.subjectASSET VALUE
dc.subjectASSETS
dc.subjectAVERAGE PRODUCTIVITY
dc.subjectBENCHMARK
dc.subjectBORROWING
dc.subjectCAPITAL COST
dc.subjectCAPITAL GAINS
dc.subjectCAPITAL THEORY
dc.subjectCATASTROPHES
dc.subjectCLIMATE
dc.subjectCLIMATE CHANGE
dc.subjectCLIMATE CHANGE MITIGATION
dc.subjectCOAL
dc.subjectCONSTRUCTION WORKERS
dc.subjectCONSUMERS
dc.subjectCONSUMPTION LOSS
dc.subjectDAMAGES
dc.subjectDEVELOPMENT POLICY
dc.subjectDIRECT VALUE
dc.subjectDISASTER
dc.subjectDISASTER REDUCTION
dc.subjectDISASTER RISK
dc.subjectDISASTER RISK FINANCING
dc.subjectDISASTER SITUATIONS
dc.subjectDISCOUNTED VALUE
dc.subjectDISTRIBUTION OF WEALTH
dc.subjectDISTRIBUTIONAL EFFECTS
dc.subjectDISTRIBUTIONAL IMPACTS
dc.subjectDROUGHT
dc.subjectDROUGHTS
dc.subjectEARTHQUAKE
dc.subjectEARTHQUAKES
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC EQUILIBRIUM
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC IMPACTS
dc.subjectECONOMIC INDICATORS
dc.subjectECONOMIC PERSPECTIVE
dc.subjectECONOMIC POLICIES
dc.subjectECONOMIC PROBLEM
dc.subjectECONOMIC RECOVERY
dc.subjectECONOMIC RESILIENCE
dc.subjectECONOMIC SECTORS
dc.subjectECONOMIC SITUATION
dc.subjectECONOMIC STATISTICS
dc.subjectECONOMIC STRUCTURE
dc.subjectECONOMIC SYSTEMS
dc.subjectECONOMIC THEORY
dc.subjectECONOMIC VALUE
dc.subjectELECTRICITY GENERATION
dc.subjectELECTRICITY GENERATION CAPACITY
dc.subjectENVIRONMENTAL PROTECTION
dc.subjectEXPORTS
dc.subjectEXTERNALITIES
dc.subjectEXTREME EVENTS
dc.subjectEXTREME POVERTY
dc.subjectFINANCIAL INSTRUMENTS
dc.subjectFINANCIAL PRODUCTS
dc.subjectFINANCIAL RESOURCES
dc.subjectFINANCIAL RETURNS
dc.subjectFINANCIAL SERVICES
dc.subjectFLOOD
dc.subjectFLOODS
dc.subjectFUTURE CONSUMPTION
dc.subjectGDP
dc.subjectGENERAL EQUILIBRIUM
dc.subjectGENERAL EQUILIBRIUM MODELS
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHEALTH CARE
dc.subjectHURRICANE
dc.subjectHURRICANE SEASON
dc.subjectHURRICANES
dc.subjectIMPORTS
dc.subjectINCOME
dc.subjectINCOME DISTRIBUTION
dc.subjectINFLATION
dc.subjectINSURANCE
dc.subjectINSURANCE CLAIMS
dc.subjectINSURANCE SCHEMES
dc.subjectINSURANCE SYSTEMS
dc.subjectINTEREST RATE
dc.subjectINVENTORY
dc.subjectJOBS
dc.subjectLABOR PRODUCTIVITY
dc.subjectLOSS IN CONSUMPTION
dc.subjectMACROECONOMIC CONTEXT
dc.subjectMACROECONOMIC EFFECTS
dc.subjectMARGINAL PRODUCTIVITY
dc.subjectMARGINAL UTILITY
dc.subjectNATURAL DISASTER
dc.subjectNATURAL DISASTERS
dc.subjectNATURAL HAZARDS
dc.subjectNEGATIVE EXTERNALITY
dc.subjectOUTPUTS
dc.subjectPOLITICAL PROCESS
dc.subjectPOSITIVE EXTERNALITIES
dc.subjectPOSITIVE EXTERNALITY
dc.subjectPOWER GENERATION
dc.subjectPRESENT VALUE
dc.subjectPRICE INCREASE
dc.subjectPROBABILITY OF OCCURRENCE
dc.subjectPRODUCTION FUNCTION
dc.subjectPRODUCTION FUNCTIONS
dc.subjectPRODUCTION PROCESS
dc.subjectPRODUCTIVE ASSETS
dc.subjectPROGRAMS
dc.subjectRECONSTRUCTION
dc.subjectRELATIVE PRICE
dc.subjectRELATIVE PRICES
dc.subjectRISK MANAGEMENT
dc.subjectRISK MANAGEMENT POLICIES
dc.subjectRISK SHARING
dc.subjectSAVINGS
dc.subjectSCENARIOS
dc.subjectSKILLED WORKERS
dc.subjectSMALL BUSINESS
dc.subjectSTORM
dc.subjectSTORMS
dc.subjectSUBSTITUTION
dc.subjectSUPPLIERS
dc.subjectTAX REVENUES
dc.subjectTHUNDERSTORMS
dc.subjectTOTAL OUTPUT
dc.subjectTRANSACTION COSTS
dc.subjectTSUNAMI
dc.subjectUNDERESTIMATES
dc.subjectUNEMPLOYMENT
dc.subjectUTILITY FUNCTION
dc.subjectUTILITY FUNCTIONS
dc.subjectUTILITY IMPACT
dc.subjectVALUATION
dc.subjectVALUE OF OUTPUT
dc.subjectWEALTH
dc.titleEconomic Resilience : Definition and Measurementen
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.crosscuttingsolutionareaClimate Change
okr.crossref.titleEconomic Resilience: Definition and Measurement
okr.date.disclosure2014-05-01
okr.date.doiregistration2025-04-10T11:29:56.595511Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2014/05/19456702/economic-resilience-definition-measurement-economic-resilience-definition-measurement
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeSocial Protection and Labor
okr.globalpracticeEnvironment and Natural Resources
okr.globalpracticeFinance and Markets
okr.guid350411468149663792
okr.identifier.doi10.1596/1813-9450-6852
okr.identifier.externaldocumentum000158349_20140502133741
okr.identifier.internaldocumentum19456702
okr.identifier.reportWPS6852
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2014/05/02/000158349_20140502133741/Rendered/PDF/WPS6852.pdfen
okr.topicInsurance and Risk Mitigation
okr.topicMacroeconomics and Economic Growth::Climate Change Economics
okr.topicSocial Protections and Labor::Labor Policies
okr.topicEnvironment::Natural Disasters
okr.topicEconomic Theory and Research
okr.topicFinance and Financial Sector Development
okr.unitOffice of the Chief Economist, Climate Change Group
okr.volume1 of 1
relation.isAuthorOfPublication2fea2b63-4a74-5fbd-b964-71ef895df009
relation.isAuthorOfPublication.latestForDiscovery2fea2b63-4a74-5fbd-b964-71ef895df009
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:
WPS6852.pdf
Size:
1.63 MB
Format:
Adobe Portable Document Format
Download
No Thumbnail Available
Name:
WPS6852.txt
Size:
144.68 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