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How Do International Financial Flows To Developing Countries Respond To Natural Disasters
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Book Synopsis How do International Financial Flows to Developing Countries Respond to Natural Disasters? by : Mr.Antonio David
Download or read book How do International Financial Flows to Developing Countries Respond to Natural Disasters? written by Mr.Antonio David and published by International Monetary Fund. This book was released on 2010-07-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses multivariate dynamic panel analysis to examine the response of international financial flows to natural disasters. The models estimated for a large sample of developing countries point to differentiated responses of specific types of financial flows. The results show that remittance inflows increase significantly in response to shocks to both climatic and geological disasters. The models suggest a nuanced role for foreign aid. While the responses of aid flows to natural disaster shocks in general tend not to be statistically significant, international assistance to low income countries increases following geological disaster shocks. Furthermore, the results show that typically, other private capital flows (bank lending and equity) do not attenuate the effects of disasters and in some specifications, even amplify the negative economic effects of these events. The conclusions of the paper have implications for capital/financial account management policies. In particular, countries should take their vulnerability to natural disasters into account when considering the costs and benefits of the liberalization of private capital flows.
Book Synopsis How Do International Financial Flows to Developing Countries Respond to Natural Disasters? by : Antonio C. David
Download or read book How Do International Financial Flows to Developing Countries Respond to Natural Disasters? written by Antonio C. David and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498346839 Total Pages :31 pages Book Rating :4.4/5 (983 download)
Book Synopsis Large Natural Disasters--Enhancing the Financial Safety Net for Developing Countries by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book Large Natural Disasters--Enhancing the Financial Safety Net for Developing Countries written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2017-05-15 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Rapid Credit Facility (RCF) and Rapid Financing Instrument (RFI) are valuable components of the disaster risk financing tool kit for Fund members, especially developing countries. They help to meet urgent balance of payments needs, and are designed to play a catalytic role in mobilizing other external financing. This paper develops proposals for a higher annual access limit under the RCF and RFI, building on a November 2016 staff paper on small states’ resilience to natural disasters and climate change (IMF, 2016c). Directors generally supported the proposal in that paper to establish higher annual access limits of 60 percent of quota under the RCF and RFI for countries experiencing severe natural disaster-related damages. The focus of this paper is to specify the threshold of damage from a natural disaster that would allow members experiencing urgent balance of payments needs arising from such disasters to access emergency financing at the higher annual limit. In the November 2016 paper, staff proposed, among other things, the possibility of establishing a higher access limit under the RCF and RFI where the amount of damage reached the threshold of 30 percent of GDP. Most Directors regarded the proposed threshold of disaster damage as overly restrictive, and suggested lowering the threshold to 20 percent of GDP or lower, provided that this did not jeopardize the self-sustainability of the PRGT. For a range of future disaster outcomes, a damage threshold of 20 percent of GDP could increase projected annual average PRGT loan demand in the 1-5 percent range over the next decade, which should not pose significant risks to the robustness of PRGT self-sustainability. Cautious stewardship of PRGT resources argues against a lower disaster damage threshold, pending further experience with disaster trends and associated PRGT loan demand. This paper does not propose changes to the current cumulative access limits for the RCF and RFI. The cumulative access limits play an important role in the Fund’s financing architecture, constraining the extent to which countries can access Fund resources without implementing a Fund-supported program with upper credit tranche (UCT) conditionality and associated policies in circumstances where such a program would be more appropriate. The Board will have the opportunity to review the cumulative access limits in the context
Book Synopsis Managing Disaster Risk in Emerging Economies by : Alcira Kreimer
Download or read book Managing Disaster Risk in Emerging Economies written by Alcira Kreimer and published by World Bank Publications. This book was released on 2000-01-01 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1999 natural catastrophes and man-made disasters claimed more than 105,000 lives, 95 percent of them in the developing world, and caused economic losses of around US$100 billion. In 1998 the twin disasters of the Yangtze and Hurrican Mitch accounted for two-thirds of the US$65 billion loss. The geographical areas affected may vary, but one constant is that the per capita burden of catastrophic losses is dramatically higher in developing countries. To respond to an increased demand to assist disaster rcovery programmes, the World Bank set up the Disaster Management Facility in 1998, to help provide the Bank with a more rapid and strategic response to disaster emergencies. The DMF focuses on risk identification, risk reduction, and risk sharing/transfer, the three major topics in this volume. The DMF also promotes strategic alliances with key private, government, multilateral and nongovernmental organisations to ensure the inclusion of disaster risk reduction as a central value of development. The most important of these partnerships is the ProVention Consortium, launched in February 2000, based on the premise that we must all take responsibility for making the new millennium a safer one.
Author :International Monetary Fund. Strategy, Policy, & Review Department Publisher :International Monetary Fund ISBN 13 :1498321437 Total Pages :55 pages Book Rating :4.4/5 (983 download)
Book Synopsis Building Resilience in Developing Countries Vulnerable to Large Natural Disasters by : International Monetary Fund. Strategy, Policy, & Review Department
Download or read book Building Resilience in Developing Countries Vulnerable to Large Natural Disasters written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2019-06-19 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses how countries vulnerable to natural disasters can reduce the associated human and economic cost. Building on earlier work by IMF staff, the paper views disaster risk management through the lens of a three-pillar strategy for building structural, financial, and post-disaster (including social) resilience. A coherent disaster resilience strategy, based on a diagnostic of risks and cost-effective responses, can provide a road map for how to tackle disaster related vulnerabilities. It can also help mobilize much-needed support from the international community.
Book Synopsis Natural Disaster Risk Management and Financing Disaster Losses in Developing Countries by : Reinhard Mechler
Download or read book Natural Disaster Risk Management and Financing Disaster Losses in Developing Countries written by Reinhard Mechler and published by Verlag Versicherungswirtschaft. This book was released on 2004-04-01 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Natural disasters may cause large economic impacts and impede socioeconomic development in developing countries considerably. Increasingly, risk management, the management of disasters before the actual occurrence of events, is being advocated. Risk financing measures taken by national governments, such as insurance und reinsurance, are important components of a risk management strategy. Often developing countries are not able to finance the costs of relief and reconstruction by their own means and have to rely on the international donor community as their "reinsurer of last resort". The main objective of the book is to establish a platform to provide information on the costs caused by disasters and the costs and benefits of disaster risk management focusing on ex-ante risk financing measures taken governments in developing countries. The final objective is to provide insight into the specific conditions where risk financing may constitute an option that provides net benefits and increases social welfare. The modelling using a stochastic simulation approach incorporates probabilistic information on the direct losses due to natural disasters into a macroeconomic projection model. Outputs are macroeconomic flow impacts such as impacts on GPD. In order to analyze the costs and benefits due to undertaking risk management measures, a Cost-Benefit Analysis approach is employed using the mean-variance method. Two case studies are conducted on countries with different exposures to disaster risk and different economic vulnerabilities: Honduras and Argentina. A major insight derived from the case studies is that under certain conditions risk financing arrangements may decrease the vulnerability to natural hazards resulting in more robust development in developing economics.
Book Synopsis Remittances and Vulnerability in Developing Countries by : Giulia Bettin
Download or read book Remittances and Vulnerability in Developing Countries written by Giulia Bettin and published by International Monetary Fund. This book was released on 2014-01-27 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines how international remittances are affected by structural characteristics, macroeconomic conditions, and adverse shocks in both source and recipient economies. We exploit a novel, rich panel data set, covering bilateral remittances from 103 Italian provinces to 107 developing countries over the period 2005-2011. We find that remittances are negatively correlated with the business cycle in recipient countries, and increase in response to adverse exogenous shocks, such as natural disasters or large declines in the terms of trade. Remittances are positively correlated with economic conditions in the source province. Nevertheless, in the presence of similar negative shocks to both source and recipient economies, remittances remain counter-cyclical with respect to the recipient country.
Download or read book Coping with Disaster written by Dean Yang and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: How well do countries cope with the aftermath of natural disasters? In particular, how well do international financial flows buffer economic losses from disasters? This paper focuses on hurricanes (one of the most common and destructive types of disasters), and examines the impact of hurricane damages on resource flows to affected countries. Due to the potential endogeneity of disaster damage, I exploit instrumental variables constructed from meteorological data on hurricanes. Instrumental variables estimates indicate that disaster damages lead to increases in national-level net inflows of migrants' remittances, foreign lending, and foreign direct investment. These types of flows respond rapidly, within the first year after damages. Official development assistance (ODA) also responds positively to hurricane damage, but with a lag of roughly two years. On average, total inflows from these sources within the following four years amount to roughly four-fifths of estimated damages. The null hypothesis of full insurance of hurricane disaster damages cannot be rejected. By contrast, ordinary least squares estimates find essentially no response of international flows to disaster damages, highlighting the importance of an instrumental variables approach in this context.
Author :International Monetary Fund. Strategy, Policy, and Review Department Publisher : ISBN 13 :9781498321426 Total Pages :55 pages Book Rating :4.3/5 (214 download)
Book Synopsis Building Resilience in Developing Countries Vulnerable to Large Natural Disasters by : International Monetary Fund. Strategy, Policy, and Review Department
Download or read book Building Resilience in Developing Countries Vulnerable to Large Natural Disasters written by International Monetary Fund. Strategy, Policy, and Review Department and published by . This book was released on 2019 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses how countries vulnerable to natural disasters can reduce the associated human and economic cost. Building on earlier work by IMF staff, the paper views disaster risk management through the lens of a three-pillar strategy for building structural, financial, and post-disaster (including social) resilience. A coherent disaster resilience strategy, based on a diagnostic of risks and cost-effective responses, can provide a road map for how to tackle disaster related vulnerabilities. It can also help mobilize much-needed support from the international community.
Book Synopsis The Economic Impacts of Natural Disasters by : Debarati Guha-Sapir
Download or read book The Economic Impacts of Natural Disasters written by Debarati Guha-Sapir and published by Oxford University Press. This book was released on 2013-05-23 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work combines research and empirical evidence on the economic costs of disasters with theoretical approaches. It provides new insights on how to assess and manage the costs and impacts of disaster prevention, mitigation, recovery and adaption, and much more.
Book Synopsis Unbreakable by : Stephane Hallegatte
Download or read book Unbreakable written by Stephane Hallegatte and published by World Bank Publications. This book was released on 2016-11-24 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Economic losses from natural disasters totaled $92 billion in 2015.' Such statements, all too commonplace, assess the severity of disasters by no other measure than the damage inflicted on buildings, infrastructure, and agricultural production. But $1 in losses does not mean the same thing to a rich person that it does to a poor person; the gravity of a $92 billion loss depends on who experiences it. By focusing on aggregate losses—the traditional approach to disaster risk—we restrict our consideration to how disasters affect those wealthy enough to have assets to lose in the first place, and largely ignore the plight of poor people. This report moves beyond asset and production losses and shifts its attention to how natural disasters affect people’s well-being. Disasters are far greater threats to well-being than traditional estimates suggest. This approach provides a more nuanced view of natural disasters than usual reporting, and a perspective that takes fuller account of poor people’s vulnerabilities. Poor people suffer only a fraction of economic losses caused by disasters, but they bear the brunt of their consequences. Understanding the disproportionate vulnerability of poor people also makes the case for setting new intervention priorities to lessen the impact of natural disasters on the world’s poor, such as expanding financial inclusion, disaster risk and health insurance, social protection and adaptive safety nets, contingent finance and reserve funds, and universal access to early warning systems. Efforts to reduce disaster risk and poverty go hand in hand. Because disasters impoverish so many, disaster risk management is inseparable from poverty reduction policy, and vice versa. As climate change magnifies natural hazards, and because protection infrastructure alone cannot eliminate risk, a more resilient population has never been more critical to breaking the cycle of disaster-induced poverty.
Book Synopsis Economic Effects of Natural Disasters by : Taha Chaiechi
Download or read book Economic Effects of Natural Disasters written by Taha Chaiechi and published by Academic Press. This book was released on 2020-10-16 with total page 665 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic Effects of Natural Disasters explores how natural disasters affect sources of economic growth and development. Using theoretical econometrics and real-world data, and drawing on advances in climate change economics, the book shows scholars and researchers how to use various research methods and techniques to investigate and respond to natural disasters. No other book presents empirical frameworks for the evaluation of the quality of macroeconomic research practice with a focus on climate change and natural disasters. Because many of these subjects are so large, different regions of the world use different approaches, hence this resource presents tailored economic applications and evidence. Connects economic theories and empirical work in climate change to natural disaster research Shows how advances in climate change and natural disaster research can be implemented in micro- and macroeconomic simulation models Addresses structural changes in countries afflicted by climate change and natural disasters
Book Synopsis Understanding the economic and financial impacts of natural disasters by : Charlotte Benson
Download or read book Understanding the economic and financial impacts of natural disasters written by Charlotte Benson and published by World Bank Publications. This book was released on 2004 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis US Banking Deregulation, Small Businesses and Interstate Insurance of Personal Income by : Yuliya Demyanyk
Download or read book US Banking Deregulation, Small Businesses and Interstate Insurance of Personal Income written by Yuliya Demyanyk and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Safer Future by : National Research Council
Download or read book A Safer Future written by National Research Council and published by National Academies Press. This book was released on 1991-02-01 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: Initial priorities for U.S. participation in the International Decade for Natural Disaster Reduction, declared by the United Nations, are contained in this volume. It focuses on seven issues: hazard and risk assessment; awareness and education; mitigation; preparedness for emergency response; recovery and reconstruction; prediction and warning; learning from disasters; and U.S. participation internationally. The committee presents its philosophy of calls for broad public and private participation to reduce the toll of disasters.
Book Synopsis Catastrophe Risk Financing in Developing Countries by : J. David Cummins
Download or read book Catastrophe Risk Financing in Developing Countries written by J. David Cummins and published by World Bank Publications. This book was released on 2009 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Catastrophe Risk Financing in Developing Countries' provides a detailed analysis of the imperfections and inefficiencies that impede the emergence of competitive catastrophe risk markets in developing countries. The book demonstrates how donors and international financial institutions can assist governments in middle- and low-income countries in promoting effective and affordable catastrophe risk financing solutions. The authors present guiding principles on how and when governments, with assistance from donors and international financial institutions, should intervene in catastrophe insurance markets. They also identify key activities to be undertaken by donors and institutions that would allow middle- and low-income countries to develop competitive and cost-effective catastrophe risk financing strategies at both the macro (government) and micro (household) levels. These principles and activities are expected to inform good practices and ensure desirable results in catastrophe insurance projects. 'Catastrophe Risk Financing in Developing Countries' offers valuable advice and guidelines to policy makers and insurance practitioners involved in the development of catastrophe insurance programs in developing countries.
Download or read book Lifelines written by Stephane Hallegatte and published by World Bank Publications. This book was released on 2019-07-16 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Infrastructure—electricity, telecommunications, roads, water, and sanitation—are central to people’s lives. Without it, they cannot make a living, stay healthy, and maintain a good quality of life. Access to basic infrastructure is also a key driver of economic development. This report lays out a framework for understanding infrastructure resilience - the ability of infrastructure systems to function and meet users’ needs during and after a natural hazard. It focuses on four infrastructure systems that are essential to economic activity and people’s well-being: power systems, including the generation, transmission, and distribution of electricity; water and sanitation—especially water utilities; transport systems—multiple modes such as road, rail, waterway, and airports, and multiple scales, including urban transit and rural access; and telecommunications, including telephone and Internet connections.