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The Indian Ocean Tsunami: Economic Impact, Disaster Management, and Lessons

Author

Listed:
  • Prema-chandra Athukorala

    (Division of Economics, Research School of Pacific and Asian Studies, Australian National University, Canberra, ACT 0200, Australia)

  • Budy P. Resosudarmo

    (Division of Economics, Research School of Pacific and Asian Studies, Australian National University, Canberra, ACT 0200, Australia)

Abstract

This paper documents and analyzes the immediate economic impact of the Indian Ocean tsunami generated by the Sumatra-Andaman earthquake of 26 December 2004, with a focus on Indonesia (Aceh province) and Sri Lanka, and assesses the disaster management process. The preliminary findings point to the importance of educating the public about simple precautions in the event of a disaster and enforcing coastal environmental regulations. The findings also argue for designing policies and programs, as an integral part of national development strategies, for mitigating the impact of natural disasters on the poor and highlight the need for combining international aid commitments with solutions to the limited aid-absorptive capacity in disaster-affected countries.

Suggested Citation

  • Prema-chandra Athukorala & Budy P. Resosudarmo, 2005. "The Indian Ocean Tsunami: Economic Impact, Disaster Management, and Lessons," Asian Economic Papers, MIT Press, vol. 4(1), pages 1-39, Winter.
    • Handle: RePEc:tpr:asiaec:v:4:y:2005:i:1:p:1-39
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    References listed on IDEAS

    as
    1. Hadi Soesastro & M. Chatib Basri, 1998. "Survey of Recent Developments," Bulletin of Indonesian Economic Studies, Taylor & Francis Journals, vol. 34(1), pages 3-54.
    2. Hadi Soesastro & Raymond Atje, 2005. "Survey of recent developments," Bulletin of Indonesian Economic Studies, Taylor & Francis Journals, vol. 41(1), pages 5-34.
    3. C. Haque, 2003. "Perspectives of Natural Disasters in East and South Asia, and the Pacific Island States: Socio-economic Correlates and Needs Assessment," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 29(3), pages 465-483, July.
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    More about this item

    JEL classification:

    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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