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The Macroeconomic Impacts of Natural Disasters: New Evidence from Floods

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  • Cunado, Juncal
  • Ferreira, Susana

Abstract

We analyze the economic impacts of floods using new data on 3,184 large flood events in 118 countries between 1985 and 2008. We use panel vector auto-regressions to trace the dynamic response of output to three types of flood shocks. Our results robustly indicate that flood shocks tend to have a positive average impact on GDP growth, that this impact is limited to developing countries, that the effect is not confined to the agricultural sector, and that it is stronger when it is accompanied by an increase in gross fixed capital formation.

Suggested Citation

  • Cunado, Juncal & Ferreira, Susana, 2011. "The Macroeconomic Impacts of Natural Disasters: New Evidence from Floods," 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania 103721, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea11:103721
    DOI: 10.22004/ag.econ.103721
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    Cited by:

    1. Zhao, Xin-Xin & Zheng, Mingbo & Fu, Qiang, 2022. "How natural disasters affect energy innovation? The perspective of environmental sustainability," Energy Economics, Elsevier, vol. 109(C).
    2. Wen, Jun & Zhang, Sen & Chang, Chun-Ping & Anugrah, Donni Fajar & Affandi, Yoga, 2023. "Does climate vulnerability promote green investment under energy supply restriction?," Energy Economics, Elsevier, vol. 124(C).
    3. Ghimire, Ramesh & Ferreira, Susana, 2013. "Economic Shocks and Civil Conflict: The Case of Large Floods," 2013 Annual Meeting, February 2-5, 2013, Orlando, Florida 142587, Southern Agricultural Economics Association.
    4. Kousky, Carolyn, 2012. "Informing Climate Adaptation: A Review of the Economic Costs of Natural Disasters, Their Determinants, and Risk Reduction Options," RFF Working Paper Series dp-12-28, Resources for the Future.
    5. Kousky, Carolyn, 2014. "Informing climate adaptation: A review of the economic costs of natural disasters," Energy Economics, Elsevier, vol. 46(C), pages 576-592.
    6. Nadia Benali, 2022. "The Dynamic Links Between Natural Disaster, Health Spending, and GDP Growth: a Case Study for Lower Middle-Income Countries," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(3), pages 1993-2006, September.
    7. Thomas J. Huggins & Feiyu E & Kangming Chen & Wenwu Gong & Lili Yang, 2020. "Infrastructural Aspects of Rain-Related Cascading Disasters: A Systematic Literature Review," IJERPH, MDPI, vol. 17(14), pages 1-25, July.
    8. Jana Soukopová & Lenka Furová, 2012. "Macroeconomic implication of the floods - a case study for the regions of the Czech Republic," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 60(7), pages 289-298.

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    Keywords

    Environmental Economics and Policy; International Development; Public Economics;
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