The Economic Impact of Natural Disasters in Pacific Island Countries: Adaptation and Preparedness

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1484353285
Total Pages : 37 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis The Economic Impact of Natural Disasters in Pacific Island Countries: Adaptation and Preparedness by : Dongyeol Lee

Download or read book The Economic Impact of Natural Disasters in Pacific Island Countries: Adaptation and Preparedness written by Dongyeol Lee and published by International Monetary Fund. This book was released on 2018-05-10 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pacific island countries are highly vulnerable to various natural disasters which are destructive, unpredictable and occur frequently. The frequency and scale of these shocks heightens the importance of medium-term economic and fiscal planning to minimize the adverse impact of disasters on economic development. This paper identifies the intensity of natural disasters for each country in the Pacific based on the distribution of damage and population affected by disasters, and estimates the impact of disasters on economic growth and international trade using a panel regression. The results show that “severe” disasters have a significant and negative impact on economic growth and lead to a deterioration of the fiscal and trade balance. We also find that the negative impact on growth is stronger for more intense disasters. Going further this paper proposes a simple and consistent method to adjust IMF staff’s economic projections and debt sustainability analysis for disaster shocks for the Pacific islands. Better incorporating the economic impact of natural disasters in the medium- and long-term economic planning would help policy makers improve fiscal policy decisions and to be better adapted and prepared for natural disasters.

Economic and Fiscal Impacts of Disasters in the Pacific

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Author :
Publisher :
ISBN 13 : 9789292611187
Total Pages : 28 pages
Book Rating : 4.6/5 (111 download)

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Book Synopsis Economic and Fiscal Impacts of Disasters in the Pacific by : Asian Development Bank

Download or read book Economic and Fiscal Impacts of Disasters in the Pacific written by Asian Development Bank and published by . This book was released on 2018-04 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pacific island countries need to build their fiscal and economic resilience to climate change and natural disasters as these have lasting consequences on their livelihoods, economies, and fiscal balances. Climate change and natural disasters can have lasting consequences on livelihoods, economies, and fiscal balances-spanning immediate reconstruction costs and fiscal shocks to long-term halts in tourism and agriculture economies. Globally, the most exposed to these impacts are the Pacific island countries. The Asian Development Bank is working closely with its Pacific developing member countries to prepare for and respond to the effects of climate change and natural hazards. This publication examines the often-overlooked dimension of resilience planning-how to brace economies for shocks caused by climate change and hazard events. It analyzes the exposure and vulnerability of Pacific economies to disaster events and outlines key resources for building fiscal and economic resilience.

Enhancing Macroeconomic Resilience to Natural Disasters and Climate Change in the Small States of the Pacific

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1513577077
Total Pages : 37 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Enhancing Macroeconomic Resilience to Natural Disasters and Climate Change in the Small States of the Pacific by : Ezequiel Cabezon

Download or read book Enhancing Macroeconomic Resilience to Natural Disasters and Climate Change in the Small States of the Pacific written by Ezequiel Cabezon and published by International Monetary Fund. This book was released on 2015-06-19 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Natural disasters and climate change are interrelated macro-critical issues affecting all Pacific small states to varying degrees. In addition to their devastating human costs, these events damage growth prospects and worsen countries’ fiscal positions. This is the first cross-country IMF study assessing the impact of natural disasters on growth in the Pacific islands as a group. A panel VAR analysis suggests that, for damage and losses equivalent to 1 percent of GDP, growth drops by 0.7 percentage point in the year of the disaster. We also find that, during 1980-2014, trend growth was 0.7 percentage point lower than it would have been without natural disasters. The paper also discusses a multi-pillar framework to enhance resilience to natural disasters at the national, regional, and multilateral levels and the importance of enhancing countries’ risk-management capacities. It highlights how this approach can provide a more strategic and less ad hoc framework for strengthening both ex ante and ex post resilience and what role the IMF can play.

Fiscal Buffers for Natural Disasters in Pacific Island Countries

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1513507982
Total Pages : 31 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Fiscal Buffers for Natural Disasters in Pacific Island Countries by : Hidetaka Nishizawa

Download or read book Fiscal Buffers for Natural Disasters in Pacific Island Countries written by Hidetaka Nishizawa and published by International Monetary Fund. This book was released on 2019-07-12 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pacific island countries (PICs) are vulnerable severe natural disasters, especially cyclones, inflicting large losses on their economies. In the aftermath of disasters, PIC governments face revenue losses and spending pressures to address post-disaster relief and recovery efforts. This paper estimates the effects of severe natural disasters on fiscal revenues and expenditure in PICs. These are combined with information on the frequency of large disasters to calculate the rate of budgetary savings needed to build appropriate fiscal buffers. Fiscal buffers provide self-insurance against natural disaster shocks and facilitate quick disbursement for recovery and relief efforts, and protection of spending on essential services and infrastructure. The estimates can provide a benchmark for policymakers, and should be adjusted to take into account other sources of financing, as well as budget risks from less severe as well as more frequent disasters.

Economic Impact of Natural Disasters on Development in the Pacific: Research report

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Author :
Publisher :
ISBN 13 :
Total Pages : 100 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Economic Impact of Natural Disasters on Development in the Pacific: Research report by : Emily McKenzie

Download or read book Economic Impact of Natural Disasters on Development in the Pacific: Research report written by Emily McKenzie and published by . This book was released on 2005 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Economic Impact of Natural Disasters on Development in the Pacific: Economic assessment tools

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Author :
Publisher :
ISBN 13 :
Total Pages : 106 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Economic Impact of Natural Disasters on Development in the Pacific: Economic assessment tools by : Emily McKenzie

Download or read book Economic Impact of Natural Disasters on Development in the Pacific: Economic assessment tools written by Emily McKenzie and published by . This book was released on 2005 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Excerpt: Resilience and Growth in the Small States of the Pacific

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1484319834
Total Pages : 61 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Excerpt: Resilience and Growth in the Small States of the Pacific by : Hoe Ee Khor

Download or read book Excerpt: Resilience and Growth in the Small States of the Pacific written by Hoe Ee Khor and published by International Monetary Fund. This book was released on 2016-04-07 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a prepublication excerpt of Resilience and Growth in the Small States of the Pacific.

Traditional Disaster Reduction in Pacific Island Communities

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Author :
Publisher :
ISBN 13 :
Total Pages : 66 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Traditional Disaster Reduction in Pacific Island Communities by : John R. Campbell

Download or read book Traditional Disaster Reduction in Pacific Island Communities written by John R. Campbell and published by . This book was released on 2006 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Understanding the economic and financial impacts of natural disasters

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Author :
Publisher : World Bank Publications
ISBN 13 : 9780821356852
Total Pages : 136 pages
Book Rating : 4.3/5 (568 download)

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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:

Self-insurance Against Natural Disasters: The Use of Pension Funds in Pacific Island Countries

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1484367898
Total Pages : 22 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Self-insurance Against Natural Disasters: The Use of Pension Funds in Pacific Island Countries by : Mr.Si Guo

Download or read book Self-insurance Against Natural Disasters: The Use of Pension Funds in Pacific Island Countries written by Mr.Si Guo and published by International Monetary Fund. This book was released on 2018-07-06 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pacific island countries are exposed to significant risks from natural disasters. As a disaster relief measure, Fiji allowed pre-retirement pension withdrawls in the wake of Cyclone Winston in 2016. Motivated by this policy action, we provide a normative analysis of the use of early pension withdrawals after disasters, by setting up a life-cycle saving model with myopic households facing large natural disaster shocks. The model demonstrates the key trade-off between building up sufficient retirement savings and ensuring the access to savings against natural disaster shocks, and sheds light on welfare implications of early pension withdrawals.

The Economic Impact of Natural Disasters in Pacific Island Countries: Adaptation and Preparedness

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1484356381
Total Pages : 37 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis The Economic Impact of Natural Disasters in Pacific Island Countries: Adaptation and Preparedness by : Dongyeol Lee

Download or read book The Economic Impact of Natural Disasters in Pacific Island Countries: Adaptation and Preparedness written by Dongyeol Lee and published by International Monetary Fund. This book was released on 2018-05-10 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pacific island countries are highly vulnerable to various natural disasters which are destructive, unpredictable and occur frequently. The frequency and scale of these shocks heightens the importance of medium-term economic and fiscal planning to minimize the adverse impact of disasters on economic development. This paper identifies the intensity of natural disasters for each country in the Pacific based on the distribution of damage and population affected by disasters, and estimates the impact of disasters on economic growth and international trade using a panel regression. The results show that “severe” disasters have a significant and negative impact on economic growth and lead to a deterioration of the fiscal and trade balance. We also find that the negative impact on growth is stronger for more intense disasters. Going further this paper proposes a simple and consistent method to adjust IMF staff’s economic projections and debt sustainability analysis for disaster shocks for the Pacific islands. Better incorporating the economic impact of natural disasters in the medium- and long-term economic planning would help policy makers improve fiscal policy decisions and to be better adapted and prepared for natural disasters.

Building Resilience in Developing Countries Vulnerable to Large Natural Disasters

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Author :
Publisher : International Monetary Fund
ISBN 13 : 149832102X
Total Pages : 55 pages
Book Rating : 4.4/5 (983 download)

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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 2019-06-26 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.

Tonga

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1513548794
Total Pages : 70 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Tonga by : International Monetary Fund. Fiscal Affairs Dept.

Download or read book Tonga written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2020-06-30 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tonga is one of the world’s most exposed countries to climate change and natural disasters. It suffered the highest loss from natural disasters in the world (as a ratio to GDP) in 2018 and is among the top five over the last decade (Table 1). Climate change will make this worse. Cyclones will become more intense, with more damage from wind and sea surges. Rising sea levels will cause more flooding, coastal erosion and contaminate fresh water. Daily high temperatures will become more extreme, with more severe floods and drought.

The Economic Impacts of Natural Disasters

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Author :
Publisher : Oxford University Press, USA
ISBN 13 : 0199339805
Total Pages : 344 pages
Book Rating : 4.1/5 (993 download)

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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, USA. This book was released on 2013-04-04 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the turn of the millennium, more than one million people have been killed and 2.3 billion others have been directly affected by natural disasters around the world. In cases like the 2010 Haiti earthquake or the 2004 Indian Ocean tsunami, these disasters have time and time again wrecked large populations and national infrastructures. While recognizing that improved rescue, evacuation, and disease control are crucial to reducing the effects of natural disasters, in the final analysis, poverty remains the main risk factor determining the long-term impact of natural hazards. Furthermore, natural disasters have themselves a tremendous impact on the poorest of the poor, who are often ill-prepared to deal with natural hazards and for whom a hurricane, an earthquake, or a drought can mean a permanent submersion in poverty. The Economic Impacts of Natural Disasters focuses on these concerns for poverty and vulnerability. Written by a collection of esteemed scholars in disaster management and sustainable development, the report provides an overview of the general trends in natural disasters and their effects by focusing on a critical analysis of different methodologies used to assess the economic impact of natural disasters. Economic Impacts presents six national case studies (Bangladesh, Vietnam, India, Nicaragua, Japan and the Netherlands) and shows how household surveys and country-level macroeconomic data can analyze and quantify the economic impact of disasters. The researchers within Economic Impacts have created path-breaking work and have opened new avenues for thinking and debate to push forward the frontiers of knowledge on economics of natural disasters.

The Rise of Natural Disasters in Asia and the Pacific

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Author :
Publisher :
ISBN 13 : 9789292541958
Total Pages : 0 pages
Book Rating : 4.5/5 (419 download)

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Book Synopsis The Rise of Natural Disasters in Asia and the Pacific by :

Download or read book The Rise of Natural Disasters in Asia and the Pacific written by and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Investing in Resilience

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Author :
Publisher : Asian Development Bank
ISBN 13 : 9290929502
Total Pages : 171 pages
Book Rating : 4.2/5 (99 download)

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Book Synopsis Investing in Resilience by : Asian Development Bank

Download or read book Investing in Resilience written by Asian Development Bank and published by Asian Development Bank. This book was released on 2013-01-01 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investing in Resilience: Ensuring a Disaster-Resistant Future focuses on the steps required to ensure that investment in disaster resilience happens and that it occurs as an integral, systematic part of development. At-risk communities in Asia and the Pacific can apply a wide range of policy, capacity, and investment instruments and mechanisms to ensure that disaster risk is properly assessed, disaster risk is reduced, and residual risk is well managed. Yet, real progress in strengthening resilience has been slow to date and natural hazards continue to cause significant loss of life, damage, and disruption in the region, undermining inclusive, sustainable development. Investing in Resilience offers an approach and ideas for reflection on how to achieve disaster resilience. It does not prescribe specific courses of action but rather establishes a vision of a resilient future. It stresses the interconnectedness and complementarity of possible actions to achieve disaster resilience across a wide range of development policies, plans, legislation, sectors, and themes. The vision shows how resilience can be accomplished through the coordinated action of governments and their development partners in the private sector, civil society, and the international community. The vision encourages “investors” to identify and prioritize bundles of actions that collectively can realize that vision of resilience, breaking away from the current tendency to pursue disparate and fragmented disaster risk management measures that frequently trip and fall at unforeseen hurdles. Investing in Resilience aims to move the disaster risk reduction debate beyond rhetoric and to help channel commitments into investment, incentives, funding, and practical action

Seychelles

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1484304802
Total Pages : 60 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Seychelles by : International Monetary Fund. African Dept.

Download or read book Seychelles written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2017-06-20 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper takes stock of Seychelles’ plans to manage climate change, from the perspective of its macroeconomic implications. It suggests macro-relevant reforms that could strengthen the plans’ likelihood of success. It highlights high public awareness and a body of existing sustainable development planning, which puts Seychelles several steps ahead toward preparedness. Next steps would be to ensure that climate change planning is integrated with the forthcoming National Development Plan. Disaster preparedness is a relatively strong point, but there is much still to be done—from improving warning systems to resilience building to contingency financing.