Victoria University

The long-term consequences of natural disasters — A summary of the literature

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dc.contributor.author Noy, Ilan
dc.contributor.author duPont IV, William
dc.date.accessioned 2016-03-03T20:18:22Z
dc.date.available 2016-03-03T20:18:22Z
dc.date.copyright 2016
dc.date.issued 2016
dc.identifier.uri http://hdl.handle.net/10063/4981
dc.description.abstract The long-term economic impact of natural disasters is a subject that is highly debated among scholars. Several factors should be taken into consideration: These include the type and severity of natural disaster, the underlying wealth of the economy, and the total area of country impacted. Additionally, the way that researchers choose to define long-term impact, look at direct and indirect damage, and the availability of data also matters. Regardless of the method used there is still not a clear consensus concerning the long-term economic consequences of disasters. To discuss the long-term economic impact of natural disasters, one must first define impact. A common way to determine this impact is to compare the economy post disaster to the level it was at prior to the disaster. Some researchers argue that an economy has recovered when it returns to pre-disaster levels. This approach can be useful when comparing the impact in the short-term; however when analyzing the long-term impact it becomes problematic. Economies are constantly changing, and over long periods of time these changes will accumulate. Therefore one of the biggest challenges for researchers is to estimate what the level the economy would be at had the natural disaster not occurred. The way in which researchers go about doing this, can have a large impact on the results they find. Researchers have not reached consensus concerning the long-term consequences to natural disasters. Several authors have found very little to no impact, of natural disasters in the long-term, especially when using country level data. There have been some notable exceptions. Poor countries as well as small island nations have been found to be less resilient in the long-term. Studies using data collected at regional and local, have found a much more nuanced set of results regardless of wealth, income, or size. en_NZ
dc.language.iso en_NZ
dc.relation.ispartofseries SEF Working paper ; 02/2016 en_NZ
dc.subject Economic impact en_NZ
dc.subject Long-run en_NZ
dc.subject Long-term growth en_NZ
dc.subject Recovery en_NZ
dc.subject Socio-economic en_NZ
dc.subject Natural disasters en_NZ
dc.title The long-term consequences of natural disasters — A summary of the literature en_NZ
dc.type Text en_NZ
vuwschema.contributor.unit School of Economics and Finance en_NZ
vuwschema.type.vuw Working or Occasional Paper en_NZ
dc.rights.rightsholder http://www.victoria.ac.nz/sef/research/sef-working-papers en_NZ
vuwschema.subject.anzsrcfor 140299 Applied Economics not elsewhere classified en_NZ


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