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Article
Publication date: 11 November 2020

Rim Jemli

Natural disasters can undermine decades of development and threaten hundreds of lives. Previous research studies highlighted that natural disasters can cripple economic…

Abstract

Purpose

Natural disasters can undermine decades of development and threaten hundreds of lives. Previous research studies highlighted that natural disasters can cripple economic growth of one or many countries. The purpose of this paper is to ask the usefulness of natural disasters governance for macroeconomic performance and countries’ resilience. For that, this research emphasizes on the effects of natural disasters economic damages on the macroeconomic performance.

Design/methodology/approach

The used technique is the unbalanced panel data model which allows testing a big cross-section of population despite when one temporal observation for an individual is unavailable. The methodology focuses on testing the effect of natural disasters’ economic damages upon the main macroeconomic aggregates. For the study relevance, various tests were carried out by taking into account the different levels of development. So, two groups have been studied: developing countries (LDCs group) and developed countries (DCs group).

Findings

Findings point up that the effects of natural disasters’ economic damages differ from aggregate to another. In spite of the differences according to the development levels, effects are more serious for developing countries.

Originality/value

The originality of paper is justified by the lack of empirical studies that have questioned the links between natural disasters, macroeconomic performance and countries’ resilience. Furthermore, this study can be distinguished by the analysis of the effects for various aggregates at once and, in the same time, by allowing the comparison of these impacts by level of development.

Details

International Journal of Disaster Resilience in the Built Environment, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-5908

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Book part
Publication date: 17 October 2017

Laura E. Grube, Stefanie Haeffele-Balch and ErikaGrace Davies

The American National Red Cross is in many ways the iconic symbol for disaster response and recovery. The organization, founded in 1881, has a long track record for coming…

Abstract

The American National Red Cross is in many ways the iconic symbol for disaster response and recovery. The organization, founded in 1881, has a long track record for coming to the aid of those in need in the wake of wars, natural disasters, and other crises. However, in the wake of recent disasters, the Red Cross has been criticized for underperforming. By combining the literature on bureaucracy in Austrian economics and the literature on monocentricity in the work of Vincent Ostrom and Elinor Ostrom, we provide an analysis of the Red Cross that helps explain the organization’s evolution over time and that also yields implications for disaster management more broadly. Specifically, the Red Cross is a bureaucracy that has become increasingly centralized and rigid as it has become further enmeshed with governmental responsibilities.

Details

The Austrian and Bloomington Schools of Political Economy
Type: Book
ISBN: 978-1-78714-843-7

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Book part
Publication date: 15 July 2017

David Letson

Will Florida’s agriculture adapt to climate change? Climate disruptions to agriculture and natural resources in Florida are projected to increase in the future. These…

Abstract

Will Florida’s agriculture adapt to climate change? Climate disruptions to agriculture and natural resources in Florida are projected to increase in the future. These impacts will be increasingly negative because critical thresholds are being exceeded. This chapter discusses how Florida’s agriculture and natural resources may be affected by climate change in the coming decades.

Agriculture will be affected by invasive alien species, sea-level-rise flooding, and storm surges. A warmer, drier climate will place agriculture in competition with other users for limited water resources. A serious concern for agriculture is that rising sea level will cause coastal groundwater to become more saline and groundwater levels to rise. The loss of coastal wetlands increases the risk of catastrophic damage due to extreme weather events. Degradation of soil and water assets due to increasing extremes in precipitation will challenge both rainfed and irrigated agriculture without the implementation of innovative conservation methods. High night-time temperatures can reduce grain yields and animal-sourced production. Climate change also increases the vulnerability of forests to ecosystem changes due to decreased soil moisture and increased evapotranspiration. The practical implications are that increased innovation will be needed to ensure the adaptation of agriculture and the associated socioeconomic system can keep pace with climate change. Given the difficulties in predicting our future climate, we must develop new risk-transfer innovations that will facilitate damage recovery. Changes in agricultural yields and food prices could have important implications for food security.

Details

World Agricultural Resources and Food Security
Type: Book
ISBN: 978-1-78714-515-3

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Book part
Publication date: 3 August 2015

Stefanie Haeffele-Balch and Virgil Henry Storr

Austrian insights on the limits of central planning, the pervasiveness of knowledge problems, and the importance of the entrepreneur in coordinating social change have…

Abstract

Austrian insights on the limits of central planning, the pervasiveness of knowledge problems, and the importance of the entrepreneur in coordinating social change have yielded substantive contributions to the literature on how individuals and communities respond to both natural and unnatural, or manmade, disasters. Austrian economists have examined the political economy of natural disasters, disaster relief and recovery efforts, the economic effects of extended wars, post-conflict societal reconstitution, and the effectiveness of humanitarian aid. This literature advances two main findings: (1) that centralized governments are likely to be ineffective at providing the goods and services that are necessary for community recovery and (2) that decentralized efforts are better suited to address the needs of society, to discover the best course of action for producing and distributing these goods and services, and to adapt to changing needs, circumstances, and technology. This paper examines the Austrian theories utilized to examine disasters, provides a summary of the recent research on both natural and unnatural disasters, and proposes areas for future research.

Details

New Thinking in Austrian Political Economy
Type: Book
ISBN: 978-1-78560-137-8

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Book part
Publication date: 25 September 2020

Peterson K. Ozili

Climate change is emerging as an important issue increasing uncertainty in the business circle, and financial institutions through their inaction seem to be unmoved by…

Abstract

Climate change is emerging as an important issue increasing uncertainty in the business circle, and financial institutions through their inaction seem to be unmoved by climate change risk despite the potential for climate change events to affect the financial institutions and the financial system. In this chapter, the effect of climate change on financial institutions and the financial system are highlighted and discussed.

Details

Uncertainty and Challenges in Contemporary Economic Behaviour
Type: Book
ISBN: 978-1-80043-095-2

Keywords

Content available
Article
Publication date: 17 November 2019

Nadia Doytch

The authors investigate natural disasters’ impact on manufacturing and services foreign direct investment (FDI), both, in contemporaneous and time-lag contexts…

Abstract

Purpose

The authors investigate natural disasters’ impact on manufacturing and services foreign direct investment (FDI), both, in contemporaneous and time-lag contexts. Manufacturing and services FDI account for different types of technology transfers, respectively, through tangible physical assets and intangible knowledge assets. This paper aims to hypothesize that natural disasters that have pronounced physical impact, have different effect on different sectoral FDI.

Design/methodology/approach

The authors merge a data set from emergency events database, which covers natural disasters occurrences with a sector-level data on FDI for 69 countries for the period 1980-2011, distinguishing between four different kinds of natural disasters such as meteorological, climate, hydrological and geophysical, as well as between different geographical regions.

Findings

Controlling for commonly accepted determinants of FDI, such as output growth, quality of institutions and natural resource abundance, the authors find that manufacturing FDI is negatively affected immediately after the disaster and positively in the longer run- a finding that is in unison with the “creative destruction” growth theory. Services FDI, on the other hand, do not show such pattern. Meteorological disasters have no effect on services FDI and climate and hydrological disasters have long-lasting negative effects. For both, manufacturing and services FDI, geophysical disasters have a positive impact on FDI in the long run.

Research limitations/implications

The study is limited to 69 countries for the period 1980-2011.

Practical implications

FDI bears tangible and intangible knowledge assets and provides means of financing, even in countries with under-developed banking systems and stock markets. FDI is impacted by climate change, manifested by intensifying and increase of frequency of natural disasters.

Social implications

Natural disasters destroy infrastructure and displace people. The rebuilding of infrastructure and intangible capital present an opportunity for upgrading.

Originality/value

This is the first study that analyzes the impact of natural disasters on sector-level FDI in a multicounty and regional context.

Details

International Journal of Climate Change Strategies and Management, vol. 12 no. 2
Type: Research Article
ISSN: 1756-8692

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Article
Publication date: 1 November 2019

Rögnvaldur Hannesson

To investigate whether CO2 intensity falls at a diminishing rate as countries grow richer.

Abstract

Purpose

To investigate whether CO2 intensity falls at a diminishing rate as countries grow richer.

Design/methodology/approach

Regression of CO2 intensity on the gross domestic product (GDP) per capita, including squared and cubic terms, for a panel of countries and individual countries.

Findings

CO2 intensity falls at a diminishing rate as countries grow richer.

Originality/value

Many studies have found that CO2 intensity falls with GDP per capita, but whether it does so at a diminishing rate has not been investigated. This result suggests that structural changes in GDP (more services) as countries get richer will provide little or no help toward decarbonization. It is shown that the extraction of minerals critical for industrial production has increased on par with real GDP. This could explain why CO2 emissions fall at a diminishing rate.

Details

International Journal of Energy Sector Management, vol. 14 no. 2
Type: Research Article
ISSN: 1750-6220

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Article
Publication date: 14 October 2019

Partha Gangopadhyay and Siddharth Jain

This paper aims to examine the interrelationships between subnational conflicts in Myanmar and other variables of interests from the following four major domains…

Abstract

Purpose

This paper aims to examine the interrelationships between subnational conflicts in Myanmar and other variables of interests from the following four major domains: economic, human security and vulnerability of people, aggressiveness or militancy of the armed forces and global and regional climates.

Design/methodology/approach

Autoregressive distributed lag (ARDL) bounds testing approach has been applied on annual data from 1960-2017, to deal with the problems of autocorrelation and non-stationarity of key variables.

Findings

First, an increase in crop yield, cereal productivity, food productivity and per capita availability of arable land unequivocally and significantly lower the severity of conflict in Myanmar in the long run. Second, the authors uncover strong evidence that the intensity of conflicts bears a positive relationship with the vulnerability of the people of Myanmar. Third, the authors detect that both regional and global climate variables have limited and rather inconsistent impacts on subnational conflicts in Myanmar. Finally, the authors find that the aggressiveness (militancy index) of the armed forces has significant impacts upon subnational conflicts and economic variables of Myanmar in the long run.

Originality/value

This paper is completely data-driven and explains the long-term dynamics of the intensity of the civil war in Myanmar. ARDL bounds testing approach has been used to examine the interrelationships between subnational conflicts in Myanmar and other variables of interests. It is a novel approach, which overcomes the problems of autocorrelation and nonstationarity and offers reliable results.

Details

Indian Growth and Development Review, vol. 13 no. 2
Type: Research Article
ISSN: 1753-8254

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Article
Publication date: 19 December 2019

Yashobanta Parida and Devi Prasad Dash

The purpose of this paper is to evaluate the effect of floods and the role of financial development on per capita gross state domestic product (GSDP) growth, controlling…

Abstract

Purpose

The purpose of this paper is to evaluate the effect of floods and the role of financial development on per capita gross state domestic product (GSDP) growth, controlling for growth-enhancing factors across Indian states.

Design/methodology/approach

The paper uses the pooled mean group (PMG) method using state-level panel data for 19 Indian states over the period 1981-2011.

Findings

The PMG estimate shows that floods negatively affect the per capita GSDP growth in the long run. The results show that the mean of economic losses, the population affected and the area affected by floods increase by 10 per cent, leading to a decline in per capita GSDP growth by 0.0303, 0.0633 and 0.0232 per cent, respectively, in the long run. Furthermore, the population affected by floods exerts a higher adverse impact on the per capita GSDP growth compared to other flood measures. The results further show that states with better financial development experience a higher per capita GSDP growth, supported by additional capital expenditure, enrolment in higher education, better road infrastructure and higher urbanization. The crime rate is negatively correlated with per capita GSDP growth.

Originality/value

The results based on PMG estimates suggest that not only floods but also crime activities adversely affect the per capita GSDP growth across Indian states. Better financial market increases the per capita GSDP growth in the long run. This study not only contributes to empirical growth literature but also provides some useful policy suggestions. Moreover, the results lead to the conclusion that long-term flood management policies are essential to mitigate the adverse impact of floods on per capita GSDP growth across Indian states.

Details

Indian Growth and Development Review, vol. 13 no. 3
Type: Research Article
ISSN: 1753-8254

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Article
Publication date: 15 May 2017

Md. Mahmudul Alam, Chamhuri Siwar, Basri Abdul Talib and Abu N.M. Wahid

Sustainable food security at the household level is one of the emerging issues for all nations. Several factors such as social, economic, political, demographic, natural…

Abstract

Purpose

Sustainable food security at the household level is one of the emerging issues for all nations. Several factors such as social, economic, political, demographic, natural and livelihood strategies cause vulnerability in the status of household food security. This study aims to examine the vulnerability of the factors of household food accessibility and its linkage with the climatic changes in Malaysia.

Design/methodology/approach

The study is based on primary data collected in the months of July-October, 2012, through a questionnaire survey on 460 low-income households from the East Coast Economic Region (ECER) in Malaysia. The samples were selected from E-Kasih poor household database, based on the cluster random sampling technique. The questionnaire uses a five-point Likert scale, and the data were analyzed using descriptive statistics and ANOVA F statistics for chi-square two-sample test.

Findings

The study finds that the vulnerability of the factors of household food accessibility has increased statistically and significantly over the past five years in Malaysia, whereas the contributions of climatic factors are low on these changes. This study suggests that the food security programs in Malaysia need to be integrated with the climatic change adaptation programs to ensure more effective and sustainable household food security in the future.

Originality/value

This study is an original work based on primary data that empirically measures the vulnerability of the factors of household food accessibility, one of the important dimensions of household food security, and its linkage with climatic changes.

Details

International Journal of Climate Change Strategies and Management, vol. 9 no. 03
Type: Research Article
ISSN: 1756-8692

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