Vikrant Panwar|Subir Sen
Economic Impact of Natural Disasters: An Empirical Re-examination
natural disasters cause serious economic human losses yet remains ambiguity existing literature regard impact economy large study reexamines relationship natural disasters economic growth aims contribute fairly limited literature economywide sectorspecific consequences natural disasters shorttomedium term 5 years examines whether disaster impacts dependent countrys level development based panel data consisting 102 29 developed 73 developing countries period 19812015 looks growth effects four types natural disasters namely floods droughts storms earthquakes explored using system generalised method moments gmm approach results indicate natural disasters diverse economic impacts across economic sectors depending disaster types intensity study confirms findings previous studies economic impacts natural disasters statistically stronger developing countries findings may stimulate policymakers especially developing countries explore efficacy viable exante disaster risk financing tools insurance microinsurance catastrophic bonds would safeguard population physical assets also ensure adherence sustainable development goals jel classification q54 o10