Publication:
Flood Protection and Land Value Creation: Not All Resilience Investments Are Created Equal

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dc.contributor.authorAvner, Paolo
dc.contributor.authorViguié, Vincent
dc.contributor.authorJafino, Bramka Arga
dc.contributor.authorHallegatte, Stephane
dc.date.accessioned2024-03-14T18:37:33Z
dc.date.available2024-03-14T18:37:33Z
dc.date.issued2024-03-11
dc.description.abstractThis paper investigates the land value creation potential from flood mitigation investments in a theoretical and applied setting, using the urban area of Buenos Aires as a case study. It contributes to the literature on the wider economic benefits of government interventions and the dividends of resilience investments. Using a simple urban economics framework that represents land and housing markets, it finds that not all flood mitigation interventions display the same potential for land value creation: where land is more valuable (city centers for example), the benefits of resilience are higher. The paper also provides ranges for land value creation potential from the flood mitigation works in Buenos Aires under various model specifications. Although the estimates vary largely depending on model parameters and specifications, in many cases the land value creation would be sufficient to justify the investments. This result is robust even in the closed city configuration with conservative flood damage estimates, providing that the parameters remain reasonably close to the values obtained from the calibration. Finally, acknowledging that fully calibrating and running an urban simulation model is data greedy and time intensive—even a simple model as proposed here—this research also proposes reduced form expressions that can provide approximations for land value creation from flood mitigation investments and can be used in operational contexts.en
dc.identifierhttp://documents.worldbank.org/curated/en/489851627570942811/Flood-Protection-and-Land-Value-Creation-Not-All-Resilience-Investments-Are-Created-Equal
dc.identifier.doi10.1596/1813-9450-9744
dc.identifier.urihttps://hdl.handle.net/10986/41196
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.relation.ispartofseriesPolicy Research Working Paper; 9744
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectGLOBAL FACILITY FOR DISASTER REDUCTION AND RECOVERY
dc.subjectFLOOD
dc.subjectLAND VALUE CREATION
dc.subjectRESILIENCE INVESTMENTS
dc.subjectTRIPLE DIVIDEND
dc.subjectURBAN ECONOMICS
dc.subjectLAND USE - TRANSPORT INTEGRATED MODELS
dc.subjectHOUSING REGULATIONS
dc.titleFlood Protection and Land Value Creationen
dc.title.subtitleNot All Resilience Investments Are Created Equalen
dc.typeWorking Paper
dspace.entity.typePublication
okr.crossref.titleFlood Protection and Land Value Creation — not All Resilience Investments are Created Equal
okr.date.disclosure2024-03-11
okr.date.lastmodified2022-04-29T00:00:00Zen
okr.doctypePolicy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/489851627570942811/Flood-Protection-and-Land-Value-Creation-Not-All-Resilience-Investments-Are-Created-Equal
okr.guid489851627570942811
okr.identifier.doi10.1596/1813-9450-9744
okr.identifier.doihttps://doi.org/10.1596/1813-9450-9744
okr.identifier.externaldocumentum090224b088d92c52_3_0
okr.identifier.internaldocumentum33304580
okr.identifier.reportWPS9744
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/489851627570942811/pdf/Flood-Protection-and-Land-Value-Creation-Not-All-Resilience-Investments-Are-Created-Equal.pdfen
okr.region.geographicalWorld
okr.topicCommunities and Human Settlements::Urban Housing and Land Settlements
okr.topicMacroeconomics and Economic Growth::Climate Change Economics
okr.topicUrban Development::Hazard Risk Management
okr.topicUrban Development::Urban Governance and Management
okr.topicUrban Development::Urban Housing
okr.topicCommunities and Human Settlements
okr.topicUrban Development
okr.topicMacroeconomics and Economic Growth
okr.unitOff of Sr VP Dev Econ/Chief Econ (DECVP)
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