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Economic Implications of Disasters on Cooperative Sector in CALABARZON, Philippines

Author

Listed:
  • Mina, Ceptryl S.
  • Cruz, Liezel S.

Abstract

Cooperatives serve as an important tool for improving the living conditions of members and their community. However, like any other business enterprise, cooperatives are also exposed to disasters that may affect their operations. This study analyzed the economic effects of disasters on cooperatives in CALABARZON, Philippines. Results of the Pearson’s chi-square test showed that cooperatives are exposed to various types of natural, biological, and human induced disasters. It was found out that disasters lead to increased operational costs and reduced net surplus. Using emergency-use-only cell phones and generators, changing production patterns, limiting high risk-customers, buying insurance, and establishing online and offline data backup systems were all found to mitigate the effects of disasters significantly. This study underscores that having business continuity plan (BCP) helps ensure continuous business operations following disaster events. This study recommends developing strategies that would equip cooperatives with necessary technical knowledge and skills in crafting and implementing BCP.

Suggested Citation

  • Mina, Ceptryl S. & Cruz, Liezel S., 2021. "Economic Implications of Disasters on Cooperative Sector in CALABARZON, Philippines," Journal of Economics, Management & Agricultural Development, Journal of Economics, Management & Agricultural Development (JEMAD), vol. 7(1), June.
    • Handle: RePEc:ags:pjemad:323953
    DOI: 10.22004/ag.econ.323953
    as

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    References listed on IDEAS

    as
    1. Israel, Danilo C. & Briones, Roehlano M., 2012. "Impacts of Natural Disasters on Agriculture, Food Security, and Natural Resources and Environment in the Philippines," Discussion Papers DP 2012-36, Philippine Institute for Development Studies.
    2. Douty, Christopher M, 1972. "Disasters and Charity: Some Aspects of Cooperative Economic Behavior," American Economic Review, American Economic Association, vol. 62(4), pages 580-590, September.
    3. Jimenez, Carolyn D. & Mina, Ceptryl S. & Catelo, Salvador P., 2020. "Multidimensional Poverty Among Calamansi Farmers in Oriental Mindoro, Philippines: Does Cooperative Membership Matter?," Journal of Economics, Management & Agricultural Development, Journal of Economics, Management & Agricultural Development (JEMAD), vol. 6(1), June.
    4. Eggers, Fabian, 2020. "Masters of disasters? Challenges and opportunities for SMEs in times of crisis," Journal of Business Research, Elsevier, vol. 116(C), pages 199-208.
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