IDEAS home Printed from https://ideas.repec.org/a/uwp/landec/v94y2018i2p175-198.html
   My bibliography  Save this article

Flood Risk, Local Hazard Mitigation, and the Community Rating System of the National Flood Insurance Program

Author

Listed:
  • Jingyuan Li
  • Craig E. Landry

Abstract

Using panel data for North Carolina communities, we estimate dynamic regression models of flood mitigation projects as recognized by the Community Rating System (CRS) of the National Flood Insurance Program. We find serial correlation in CRS points, which we interpret as incremental persistence that reflects physical and human capital accumulation. We find greater levels of mitigation in communities with larger tax revenues and lower levels of crime and unemployment, and a weak, but significant, effect due to recent flood experience. Socioeconomic factors also affect hazard mitigation; CRS points are greater in communities with greater median household income and higher population density.

Suggested Citation

  • Jingyuan Li & Craig E. Landry, 2018. "Flood Risk, Local Hazard Mitigation, and the Community Rating System of the National Flood Insurance Program," Land Economics, University of Wisconsin Press, vol. 94(2), pages 175-198.
    • Handle: RePEc:uwp:landec:v:94:y:2018:i:2:p:175-198
    Note: DOI: 10.3368/le.94.2.175
    as

    Download full text from publisher

    File URL: http://le.uwpress.org/cgi/reprint/94/2/175
    Download Restriction: A subscripton is required to access pdf files. Pay per article is available.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Hamed Ghaedi & Kelsea Best & Allison Reilly & Deb Niemeier, 2024. "Statistical learning to identify salient factors influencing FEMA public assistance outlays," 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. 120(12), pages 10559-10582, September.
    2. Eugene Frimpong & Daniel R Petrolia & Ardian Harri & John H. Cartwright, 2020. "Flood Insurance and Claims: The Impact of the Community Rating System," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 42(2), pages 245-262, June.
    3. Mona Ahmadiani & Susana Ferreira & Craig E. Landry, 2019. "Flood Insurance and Risk Reduction: Market Penetration, Coverage, and Mitigation in Coastal North Carolina," Southern Economic Journal, John Wiley & Sons, vol. 85(4), pages 1058-1082, April.
    4. Liao, Yanjun (Penny) & Sølvsten, Simon & Whitlock, Zachary, 2024. "Community Responses to Flooding in Risk Mitigation Actions: Evidence from the Community Rating System," RFF Working Paper Series 24-08, Resources for the Future.
    5. Douglas S. Noonan & Xian Liu, 2019. "Heading for the Hills? Effects of Community Flood Management on Local Adaptation to Flood Risks," Southern Economic Journal, John Wiley & Sons, vol. 86(2), pages 800-822, October.
    6. Jenna Tyler & Abdul-Akeem Sadiq & Douglas S. Noonan, 2019. "A review of the community flood risk management literature in the USA: lessons for improving community resilience to floods," 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. 96(3), pages 1223-1248, April.
    7. Craig Landry & Dylan Turner, 2020. "Risk Perceptions and Flood Insurance: Insights from Homeowners on the Georgia Coast," Sustainability, MDPI, vol. 12(24), pages 1-22, December.
    8. Craig E. Landry & Dylan Turner & Daniel Petrolia, 2021. "Flood Insurance Market Penetration and Expectations of Disaster Assistance," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 79(2), pages 357-386, June.
    9. Ren, Yongwang, 2022. "The Spillover Effect of The Community Rating System," 2022 Annual Meeting, July 31-August 2, Anaheim, California 322071, Agricultural and Applied Economics Association.
    10. Noonan, Douglas S. & Sadiq, Abdul-Akeem, 2019. "Community-scale Flood Risk Management: Effects of a Voluntary National Program on Migration and Development," Ecological Economics, Elsevier, vol. 157(C), pages 92-99.
    11. Wesley Burnett, J. & Mothorpe, Christopher, 2021. "Human-induced earthquakes, risk salience, and housing values," Resource and Energy Economics, Elsevier, vol. 63(C).
    12. Liu, Xian & Noonan, Douglas, 2022. "Building underwater: Effects of community-scale flood management on housing development," Journal of Housing Economics, Elsevier, vol. 57(C).

    More about this item

    JEL classification:

    • H44 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Goods: Mixed Markets
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:uwp:landec:v:94:y:2018:i:2:p:175-198. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: http://le.uwpress.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.