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Disaster Risk Reduction Funding: Investment Cycle for Flood Protection in Japan

Author

Listed:
  • Mikio Ishiwatari

    (Graduate School of Frontier Sciences, The University of Tokyo, Kashiwa 277-8563, Japan)

  • Daisuke Sasaki

    (International Research Institute of Disaster Science, Tohoku University, Sendai 980-8577, Japan)

Abstract

Background: Investment in disaster risk reduction is crucial in order to mitigate disaster damage. However, for many countries, particularly developing ones, financing investment in disaster risk reduction is challenging. This study aims to examine the factors that affect investments in flood protection and the approaches to securing investments by analyzing investment trends in Japan. Methods: This study examines 150 years of flood protection and investment cycles that helped reduce damages in Japan. The dataset of flood protection budgets, flood damage, and national income since 1878 was created from public statistics. Documents and reports concerned with disaster management, river management, and finance were examined. Results: The study found five investment cycles of flood protection from the late 19th century to the present. The country established financing mechanisms, such as legislation and long-term plans, following major flood disasters. However, external shocks such as war, economic recession, disaster, and tightened national finance had a major impact on these investments. The fluctuations in the budget created an investment cycle. The country had increased its budget to 0.9% of its national income in the 1990s. It often experienced flood damage accounting for over 1% of the national income until 1961, but succeeded in decreasing the damage to less than 1%, and currently it is limited to less than 0.4%. Conclusions: The financial mechanisms established from the long-term perspective could support an increase in budgets for flood protection, leading to a decrease in damage. However, established financing mechanisms may weaken the financial flexibility of the country.

Suggested Citation

  • Mikio Ishiwatari & Daisuke Sasaki, 2022. "Disaster Risk Reduction Funding: Investment Cycle for Flood Protection in Japan," IJERPH, MDPI, vol. 19(6), pages 1-17, March.
    • Handle: RePEc:gam:jijerp:v:19:y:2022:i:6:p:3346-:d:769542
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    References listed on IDEAS

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    1. Hasumi, Ryo & Iiboshi, Hirokuni & Nakamura, Daisuke, 2018. "Trends, cycles and lost decades: Decomposition from a DSGE model with endogenous growth," Japan and the World Economy, Elsevier, vol. 46(C), pages 9-28.
    2. Mikio Ishiwatari & Daisuke Sasaki, 2021. "Investments in flood protection: Trends in flood damage and protection in growing Asian economies," Working Papers 221, JICA Research Institute.
    3. Mikio Ishiwatari & Daisuke Sasaki, 2020. "Bridging the Gaps in Infrastructure Investment for Flood Protection in Asia," Working Papers 202, JICA Research Institute.
    4. Federica Ranghieri & Mikio Ishiwatari, 2014. "Learning from Megadisasters : Lessons from the Great East Japan Earthquake," World Bank Publications - Books, The World Bank Group, number 18864.
    5. Federica Ranghieri, 2014. "Learning from megadisasters: lessons learnt from the Great East Japan earthquake and tsunami," ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT, FrancoAngeli Editore, vol. 2014(3), pages 5-17.
    6. Mikio ISHIWATARI, 2016. "What are crucial issues in promoting an integrated approach for flood risk management in urban areas?," Japan Social Innovation Journal, University of Hyogo Institute for Policy Analysis and Social Innovation, vol. 6(1), pages 1-15, March.
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    Cited by:

    1. Mikio Ishiwatari & Daisuke Sasaki, 2023. "Special Issue “Disaster Risk Reduction and Climate Change Adaptation: An Interdisciplinary Approach”," IJERPH, MDPI, vol. 20(3), pages 1-4, February.

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