Economic impact of natural disasters, spillovers, and role of human development: case of Indonesia
Tóm tắt
We investigate how natural disaster damages affect regional economic growth and their spatial spillover effect in various human development (HDI) level settings by utilising a panel annual district-level dataset from Indonesia. We employ Spatial Durbin Model to achieve these objectives. We find that disaster damage to houses has a negative effect on district-level per capita output growth. Meanwhile, the effect of disaster damage to people on economic growth depends on their HDI level, with low-HDI districts affected negatively and high-HDI districts positively. Our analysis also finds spatial spillover effects on neighbouring regions’ growth, and heterogeneous effects across economic sectors.
Tài liệu tham khảo
Athukorala, P.C., Resosudarmo, B.P.: The indian ocean tsunami: Economic impact, disaster management, and lessons. Asian Econ. Papers 4(1), 1–39 (2005)
Cavallo, E., Galiani, S., Noy, I., Pantano, J.: Catastrophic natural disasters and economic growth. Rev. Econ. Stat. 95(5), 1549–1561 (2013)
Cunado, J., Ferreira, S.: The macroeconomic impacts of natural disasters: The case of floods. Land Econ. 90(1), 149–168 (2014)
Drabo, A., Mbaye, L.M.: Natural disasters, migration and education: an empirical analysis in developing countries. Environ. Dev. Econ. 20(6), 767–796 (2015). https://doi.org/10.1017/S1355770X14000606
Drukker, D.M., Peng, H., Prucha, I.R., Raciborski, R.: Creating and managing spatial-weighting matrices with the spmat command. Stata J. 13(2), 242–286 (2013). ((45))
duPont, W., IV., Noy, I.: What happened to kobe? a reassessment of the impact of the 1995 earthquake in japan. Econ. Dev. Cult. Change 63(4), 777–812 (2015)
Elhorst, J.P.: Spatial Econometrics from Cross-sectional Data to Spatial Panels. Springer, Berlin (2014)
Felbermayr, G., Gröschl, J.: Naturally negative: The growth effects of natural disasters. J. Dev. Econ. 111, 92–106 (2014)
Fischer, S.: Post-disaster spillovers: Evidence from iranian provinces. J. Risk Finan. Manag. (2021). https://doi.org/10.3390/jrfm14050193
Fomby, T., Ikeda, Y., Loayza, N.V.: The growth aftermath of natural disasters. J. Appl. Economet. 28(3), 412–434 (2013)
Horwich, G.: Economic lessons of the kobe earthquake. Econ. Dev. Cult. Change 48(3), 521–542 (2000)
Klomp, J.: Economic development and natural disasters: A satellite data analysis. Glob. Environ. Chang. 36, 67–88 (2016)
Klomp, J., Valckx, K.: Natural disasters and economic growth: A meta-analysis. Glob. Environ. Chang. 26, 183–195 (2014)
Kunreuther, H.: Mitigating disaster losses through insurance. J. Risk Uncertain. 12(2), 171–187 (1996)
Lazzaroni, S., van Bergeijk, P.A.: Natural disasters’ impact, factors of resilience and development: A meta-analysis of the macroeconomic literature. Ecol. Econ. 107, 333–346 (2014)
Leiter, A.M., Oberhofer, H., Raschky, P.A.: Creative disasters? flooding effects on capital, labour and productivity within european firms. Environ. Resource Econ. 43(3), 333–350 (2009)
Lima, R.C.D.A., Barbosa, A.V.B.: Natural disasters, economic growth and spatial spillovers: Evidence from a flash flood in brazil. Pap. Reg. Sci. 98(2), 905–924 (2019)
Loayza, N.V., Olaberria, E., Rigolini, J., Christiaensen, L.: Natural disasters and growth: Going beyond the averages. World Dev. 40(7), 1317–1336 (2012)
Noy, I.: The macroeconomic consequences of disasters. J. Dev. Econ. 88(2), 221–231 (2009)
Noy, I., Vu, T.B.: The economics of natural disasters in a developing country: The case of vietnam. J. Asian Econ. 21(4), 345–354 (2010). https://doi.org/10.1016/j.asieco.2010.03.002
Panwar, V., Sen, S.: Economic impact of natural disasters: An empirical re-examination. Margin J. Appl. Econ. Res. 13(1), 109–139 (2019)
Raddatz, C.E.: The wrath of god: macroeconomic costs of natural disasters. World Bank Policy Research Working Paper (5039) (2009)
Skidmore, M., Toya, H.: Do natural disasters promote long-run growth? Econ. Inq. 40(4), 664–687 (2002)
Strömberg, D.: Natural disasters, economic development, and humanitarian aid. J. Econ. Perspect. 21(3), 199–222 (2007)
Ward, P.S., Shively, G.E.: Disaster risk, social vulnerability, and economic development. Disasters 41(2), 324–351 (2017)
Xiao, Y., Nilawar, U.: Winners and losers: analysing post-disaster spatial economic demand shift. Disasters 37(4), 646–668 (2013)