Measuring Natural Risks in the Philippines : Socioeconomic Resilience and Wellbeing Losses
Traditional risk assessments use asset losses as the main metric to measure the severity of a disaster. This paper proposes an expanded risk assessment based on a framework that adds socioeconomic resilience and uses wellbeing losses as its main me...
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| Format: | Working Paper |
| Language: | English |
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World Bank, Washington, DC
2019
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| Online Access: | http://documents.worldbank.org/curated/en/482401548966120315/Measuring-Natural-Risks-in-the-Philippines-Socioeconomic-Resilience-and-Wellbeing-Losses http://hdl.handle.net/10986/31227 |
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okr-10986-312272022-09-20T00:14:19Z Measuring Natural Risks in the Philippines : Socioeconomic Resilience and Wellbeing Losses Walsh, Brian Hallegatte, Stephane NATURAL RISKS NATURAL DISASTER RESILIENCE RISK ASSESSMENT WELFARE RISK MANAGEMENT ASSET LOSS DISASTER SEVERITY POVERTY SOCIAL PROTECTION Traditional risk assessments use asset losses as the main metric to measure the severity of a disaster. This paper proposes an expanded risk assessment based on a framework that adds socioeconomic resilience and uses wellbeing losses as its main measure of disaster severity. Using a new, agent-based model that represents explicitly the recovery and reconstruction process at the household level, this risk assessment provides new insights into disaster risks in the Philippines. First, there is a close link between natural disasters and poverty. On average, the estimates suggest that almost half a million Filipinos per year face transient consumption poverty due to natural disasters. Nationally, the bottom income quintile suffers only 9 percent of the total asset losses, but 31 percent of the total wellbeing losses. The average annual wellbeing losses due to disasters in the Philippines is estimated at US$3.9 billion per year, more than double the asset losses of US$1.4 billion. Second, the regions identified as priorities for risk-management interventions differ depending on which risk metric is used. Cost-benefit analyses based on asset losses direct risk reduction investments toward the richest regions and areas. A focus on poverty or wellbeing rebalances the analysis and generates a different set of regional priorities. Finally, measuring disaster impacts through poverty and wellbeing impacts allows the quantification of the benefits from interventions like rapid post-disaster support and adaptive social protection. Although these measures do not reduce asset losses, they efficiently reduce their consequences for wellbeing by making the population more resilient. 2019-02-07T17:17:54Z 2019-02-07T17:17:54Z 2019-01 Working Paper http://documents.worldbank.org/curated/en/482401548966120315/Measuring-Natural-Risks-in-the-Philippines-Socioeconomic-Resilience-and-Wellbeing-Losses http://hdl.handle.net/10986/31227 English Policy Research Working Paper;No. 8723 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper East Asia and Pacific Philippines |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
NATURAL RISKS NATURAL DISASTER RESILIENCE RISK ASSESSMENT WELFARE RISK MANAGEMENT ASSET LOSS DISASTER SEVERITY POVERTY SOCIAL PROTECTION |
| spellingShingle |
NATURAL RISKS NATURAL DISASTER RESILIENCE RISK ASSESSMENT WELFARE RISK MANAGEMENT ASSET LOSS DISASTER SEVERITY POVERTY SOCIAL PROTECTION Walsh, Brian Hallegatte, Stephane Measuring Natural Risks in the Philippines : Socioeconomic Resilience and Wellbeing Losses |
| geographic_facet |
East Asia and Pacific Philippines |
| relation |
Policy Research Working Paper;No. 8723 |
| description |
Traditional risk assessments use asset
losses as the main metric to measure the severity of a
disaster. This paper proposes an expanded risk assessment
based on a framework that adds socioeconomic resilience and
uses wellbeing losses as its main measure of disaster
severity. Using a new, agent-based model that represents
explicitly the recovery and reconstruction process at the
household level, this risk assessment provides new insights
into disaster risks in the Philippines. First, there is a
close link between natural disasters and poverty. On
average, the estimates suggest that almost half a million
Filipinos per year face transient consumption poverty due to
natural disasters. Nationally, the bottom income quintile
suffers only 9 percent of the total asset losses, but 31
percent of the total wellbeing losses. The average annual
wellbeing losses due to disasters in the Philippines is
estimated at US$3.9 billion per year, more than double the
asset losses of US$1.4 billion. Second, the regions
identified as priorities for risk-management interventions
differ depending on which risk metric is used. Cost-benefit
analyses based on asset losses direct risk reduction
investments toward the richest regions and areas. A focus on
poverty or wellbeing rebalances the analysis and generates a
different set of regional priorities. Finally, measuring
disaster impacts through poverty and wellbeing impacts
allows the quantification of the benefits from interventions
like rapid post-disaster support and adaptive social
protection. Although these measures do not reduce asset
losses, they efficiently reduce their consequences for
wellbeing by making the population more resilient. |
| format |
Working Paper |
| author |
Walsh, Brian Hallegatte, Stephane |
| author_facet |
Walsh, Brian Hallegatte, Stephane |
| author_sort |
Walsh, Brian |
| title |
Measuring Natural Risks in the Philippines : Socioeconomic Resilience and Wellbeing Losses |
| title_short |
Measuring Natural Risks in the Philippines : Socioeconomic Resilience and Wellbeing Losses |
| title_full |
Measuring Natural Risks in the Philippines : Socioeconomic Resilience and Wellbeing Losses |
| title_fullStr |
Measuring Natural Risks in the Philippines : Socioeconomic Resilience and Wellbeing Losses |
| title_full_unstemmed |
Measuring Natural Risks in the Philippines : Socioeconomic Resilience and Wellbeing Losses |
| title_sort |
measuring natural risks in the philippines : socioeconomic resilience and wellbeing losses |
| publisher |
World Bank, Washington, DC |
| publishDate |
2019 |
| url |
http://documents.worldbank.org/curated/en/482401548966120315/Measuring-Natural-Risks-in-the-Philippines-Socioeconomic-Resilience-and-Wellbeing-Losses http://hdl.handle.net/10986/31227 |
| _version_ |
1764473838222966784 |