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The European Union Solidarity Fund: An Important Tool in the Recovery After Large-Scale Natural Disasters

Author

Listed:
  • Maria Ioncica

    (Bucharest University of Economic Studies)

  • Eva-Cristina Petrescu

    (Bucharest University of Economic Studies)

Abstract

This paper analyses the situation of the European Union Solidarity Fund, as an important tool in the recovery after large-scale natural disasters. In the last millennium, the European Union countries have faced climate change, which lead to events with disastrous consequences. There are several ex-post financial ways to respond to the challenges posed by large-scale natural disasters, among which EU Solidarity Fund, government funds, budget reallocation, donor assistance, domestic and/or external credit. The EU Solidarity Fund was created in 2002 after the massive floods from the Central Europe as the expression of the solidarity of EU countries. Romania has received financial assistance from the EU Solidarity Fund after the occurrence of major natural disasters, regional and neighbouring country disasters. The assessment of large-scale natural disasters in EU is very important and in order to analyse if there is a concentration of large-scale natural disasters in EU we used the Gini coefficient. In the paper, the method of the statistical analysis and the correlation between several indicators were used to study the financial impacts of large-scale natural disasters in Europe, and especially in Romania.

Suggested Citation

  • Maria Ioncica & Eva-Cristina Petrescu, 2016. "The European Union Solidarity Fund: An Important Tool in the Recovery After Large-Scale Natural Disasters," Romanian Statistical Review, Romanian Statistical Review, vol. 64(1), pages 69-80, March.
    • Handle: RePEc:rsr:journl:v:64:y:2016:i:1:p:69-80
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    References listed on IDEAS

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    1. Ruben Jongejan & Pauline Barrieu, 2008. "Insuring Large-Scale Floods in the Netherlands," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 33(2), pages 250-268, April.
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    Cited by:

    1. Diana Ioncica & Maria Ioncica & Eva-Cristina Petrescu, 2016. "The Environment, Tourist Transport and the Sustainable Development of Tourism," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 18(S10), pages 898-898, November.

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    More about this item

    Keywords

    Romania; European Union Solidarity Fund; large-scale natural disasters; damage; aid;
    All these keywords.

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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