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Disasters, economic growth and fiscal response in the countries of Latin America and the Caribbean, 1972-2010

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  • Bello, Omar

Abstract

The aim of this study is to estimate the impact of geological and climate-related disasters on the per capita growth rates of gross domestic product (GDP) and fiscal expenditure in Latin American and Caribbean countries. The results show that the effects vary by type of disaster and by subregion. In the Caribbean countries, the per capita GDP growth rate has typically responded negatively to climate disasters, whereas the response to a geological disaster has generally not been statistically significant. In Central American countries, the response of the per capita GDP growth rate was found to be negative in the first year and positive in the third year in the case of climate disasters, but positive in the second and third years for disasters of geological origin.

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  • Bello, Omar, 2017. "Disasters, economic growth and fiscal response in the countries of Latin America and the Caribbean, 1972-2010," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), April.
    • Handle: RePEc:ecr:col070:42007
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    1. -, 2021. "Conceptualizing a circular economy in the Caribbean: perspectives and possibilities. Policy Brief," Sede Subregional de la CEPAL para el Caribe (Estudios e Investigaciones) 47604, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    2. -, 2020. "Building a New Future: Transformative Recovery with Equality and Sustainability. Summary," Documentos de posición del período de sesiones de la Comisión 46226, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    3. Bello, Omar & Khamis, Marion & Osorio, Claudio & Peralta Quesada, Leda, 2017. "Mainstreaming disaster risk management strategies in development instruments: Policy briefs for selected member countries of the Caribbean Development and Cooperation Committee," Studies and Perspectives – ECLAC Subregional Headquarters for The Caribbean 42175, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    4. Takuro Ashizawa & Nao Sudo & Hiroki Yamamoto, 2022. "How Do Floods Affect the Economy? An Empirical Analysis using Japanese Flood Data," Bank of Japan Working Paper Series 22-E-6, Bank of Japan.
    5. -, 2020. "Building a New Future: Transformative Recovery with Equality and Sustainability. Summary," Libros y Documentos Institucionales, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 46226 edited by Eclac.
    6. Brei, Michael & Mohan, Preeya & Perez Barahona, Agustin & Strobl, Eric, 2024. "Transmission of natural disasters to the banking sector: Evidence from thirty years of tropical storms in the Caribbean," Journal of International Money and Finance, Elsevier, vol. 141(C).

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