Economic Modeling of Income, Different Types of Capital and Natural Disasters
This paper provides empirical estimates of the impacts of natural disasters on different forms of capital (with a focus on human and intangible capital and natural capital), and on real gross domestic product per capita. The types of disaster consi...
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| Format: | Policy Research Working Paper |
| Language: | English |
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2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090324155922 http://hdl.handle.net/10986/4070 |
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okr-10986-4070 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
AGRICULTURE BASE YEAR CARBON DIOXIDE CARBON DIOXIDE EMISSIONS CASUALTIES CENTRE FOR RESEARCH ON THE EPIDEMIOLOGY CLIMATE CHANGE CRED CULTURAL CHANGE DAMAGES DEMOCRACY DEMOGRAPHIC FACTORS DEVELOPMENT ECONOMICS DEVELOPMENT NETWORK DISASTER DISASTER REDUCTION DISASTER RELIEF DISASTER RISK DISASTER RISK REDUCTION DISASTER TYPE DROUGHT DROUGHTS EARTHQUAKE EARTHQUAKES ECONOMETRIC ANALYSIS ECONOMETRIC MODELING ECONOMETRICS ECONOMIC GROWTH ECONOMIC RESEARCH ECONOMIC STRUCTURE ECONOMICS OF EDUCATION EDUCATIONAL ATTAINMENT ELASTICITY ENVIRONMENTAL CHANGE ENVIRONMENTAL PROTECTION EQUATIONS FLOOD FLOODS GDP GDP PER CAPITA GOOD GOVERNANCE GROSS DOMESTIC PRODUCT PER CAPITA HOMELESS PEOPLE HOUSEHOLD INCOME HOUSEHOLD SIZE HUMAN CAPITAL HUMAN DIMENSIONS HURRICANE ILLNESS IMPORTANT POLICY INCOME INCOME GROUPS INFECTIOUS DISEASE INFRASTRUCTURE DEVELOPMENT LABOR FORCE LABOR MARKET LEVELS OF EDUCATION LOW-INCOME COUNTRY MEDICAL ASSISTANCE MEDICAL TREATMENT NATIONAL GOVERNMENTS NATIONAL LEVEL NATIONAL POPULATION NATURAL DISASTER NATURAL DISASTERS NATURAL GAS NUMBER OF DEATHS NUMBER OF PEOPLE NUMBER OF PERSONS NUTRITION OPPORTUNITY COST PER CAPITA INCOME PERSONAL COMMUNICATION PHYSICAL ENVIRONMENT POLICY FORMULATION POLICY IMPLICATIONS POLICY RESEARCH POLICY RESEARCH WORKING PAPER POPULATION DENSITY POPULATION SIZE PRIMARY EDUCATION PRIMARY SCHOOL PRODUCTION FUNCTION PROGRESS PROPERTY RIGHTS PUBLIC HEALTH PUBLIC SERVICES REAL GDP REAL GROSS DOMESTIC PRODUCT RECONSTRUCTION RESPECT ROLE OF GENDER RULE OF LAW SANITATION SANITATION FACILITIES SCHOOL ATTENDANCE SCHOOL YOUTH SOCIAL SCIENCE STATE UNIVERSITY STORM STORMS SUSTAINABLE DEVELOPMENT TEACHER RATIO TRADE POLICIES TRANSITION ECONOMIES TRAUMA TROUGH TYPE OF DISASTER UNEMPLOYMENT UNEMPLOYMENT RATE VALUE ADDED WAGE RATES WAGES WEALTH |
| spellingShingle |
AGRICULTURE BASE YEAR CARBON DIOXIDE CARBON DIOXIDE EMISSIONS CASUALTIES CENTRE FOR RESEARCH ON THE EPIDEMIOLOGY CLIMATE CHANGE CRED CULTURAL CHANGE DAMAGES DEMOCRACY DEMOGRAPHIC FACTORS DEVELOPMENT ECONOMICS DEVELOPMENT NETWORK DISASTER DISASTER REDUCTION DISASTER RELIEF DISASTER RISK DISASTER RISK REDUCTION DISASTER TYPE DROUGHT DROUGHTS EARTHQUAKE EARTHQUAKES ECONOMETRIC ANALYSIS ECONOMETRIC MODELING ECONOMETRICS ECONOMIC GROWTH ECONOMIC RESEARCH ECONOMIC STRUCTURE ECONOMICS OF EDUCATION EDUCATIONAL ATTAINMENT ELASTICITY ENVIRONMENTAL CHANGE ENVIRONMENTAL PROTECTION EQUATIONS FLOOD FLOODS GDP GDP PER CAPITA GOOD GOVERNANCE GROSS DOMESTIC PRODUCT PER CAPITA HOMELESS PEOPLE HOUSEHOLD INCOME HOUSEHOLD SIZE HUMAN CAPITAL HUMAN DIMENSIONS HURRICANE ILLNESS IMPORTANT POLICY INCOME INCOME GROUPS INFECTIOUS DISEASE INFRASTRUCTURE DEVELOPMENT LABOR FORCE LABOR MARKET LEVELS OF EDUCATION LOW-INCOME COUNTRY MEDICAL ASSISTANCE MEDICAL TREATMENT NATIONAL GOVERNMENTS NATIONAL LEVEL NATIONAL POPULATION NATURAL DISASTER NATURAL DISASTERS NATURAL GAS NUMBER OF DEATHS NUMBER OF PEOPLE NUMBER OF PERSONS NUTRITION OPPORTUNITY COST PER CAPITA INCOME PERSONAL COMMUNICATION PHYSICAL ENVIRONMENT POLICY FORMULATION POLICY IMPLICATIONS POLICY RESEARCH POLICY RESEARCH WORKING PAPER POPULATION DENSITY POPULATION SIZE PRIMARY EDUCATION PRIMARY SCHOOL PRODUCTION FUNCTION PROGRESS PROPERTY RIGHTS PUBLIC HEALTH PUBLIC SERVICES REAL GDP REAL GROSS DOMESTIC PRODUCT RECONSTRUCTION RESPECT ROLE OF GENDER RULE OF LAW SANITATION SANITATION FACILITIES SCHOOL ATTENDANCE SCHOOL YOUTH SOCIAL SCIENCE STATE UNIVERSITY STORM STORMS SUSTAINABLE DEVELOPMENT TEACHER RATIO TRADE POLICIES TRANSITION ECONOMIES TRAUMA TROUGH TYPE OF DISASTER UNEMPLOYMENT UNEMPLOYMENT RATE VALUE ADDED WAGE RATES WAGES WEALTH Markandya, Anil Pedroso-Galinato, Suzette Economic Modeling of Income, Different Types of Capital and Natural Disasters |
| geographic_facet |
The World Region The World Region |
| relation |
Policy Research working paper ; no. WPS 4875 |
| description |
This paper provides empirical estimates
of the impacts of natural disasters on different forms of
capital (with a focus on human and intangible capital and
natural capital), and on real gross domestic product per
capita. The types of disaster considered are droughts,
earthquakes, floods, and storms and their impacts are
measured in terms of the number of people affected or people
affected per capita. The authors find statistically
significant reductions on the values of human and intangible
capital and land capital as a consequence of the disasters,
and these reductions are greater when the impacts last for
longer periods. Based on the assumption that natural
disasters indirectly affect the level of income via losses
in capital, the authors estimate a Cobb-Douglas production
function using the different forms of capital as inputs. The
losses in income are found to vary across different
countries and the type of natural disaster studied. However,
a common finding is that the losses in income depend
generally on two factors: the relative magnitude of impacts
of a natural disaster and the values of different forms of
capital. The estimates in this paper are national level
figures and cannot be useful in predicting the cost of
damages at the local level, where much larger amounts can be
experienced per capita. Nevertheless, the estimates provide
some indication of magnitudes for different disasters and
for different groups of countries. More work and more data
are needed to get a dynamic profile for the losses of
capital and income. But given the study's results, the
time profile is estimated to range typically between two and
five years. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Markandya, Anil Pedroso-Galinato, Suzette |
| author_facet |
Markandya, Anil Pedroso-Galinato, Suzette |
| author_sort |
Markandya, Anil |
| title |
Economic Modeling of Income, Different Types of Capital and Natural Disasters |
| title_short |
Economic Modeling of Income, Different Types of Capital and Natural Disasters |
| title_full |
Economic Modeling of Income, Different Types of Capital and Natural Disasters |
| title_fullStr |
Economic Modeling of Income, Different Types of Capital and Natural Disasters |
| title_full_unstemmed |
Economic Modeling of Income, Different Types of Capital and Natural Disasters |
| title_sort |
economic modeling of income, different types of capital and natural disasters |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090324155922 http://hdl.handle.net/10986/4070 |
| _version_ |
1764389782982492160 |
| spelling |
okr-10986-40702021-04-23T14:02:15Z Economic Modeling of Income, Different Types of Capital and Natural Disasters Markandya, Anil Pedroso-Galinato, Suzette AGRICULTURE BASE YEAR CARBON DIOXIDE CARBON DIOXIDE EMISSIONS CASUALTIES CENTRE FOR RESEARCH ON THE EPIDEMIOLOGY CLIMATE CHANGE CRED CULTURAL CHANGE DAMAGES DEMOCRACY DEMOGRAPHIC FACTORS DEVELOPMENT ECONOMICS DEVELOPMENT NETWORK DISASTER DISASTER REDUCTION DISASTER RELIEF DISASTER RISK DISASTER RISK REDUCTION DISASTER TYPE DROUGHT DROUGHTS EARTHQUAKE EARTHQUAKES ECONOMETRIC ANALYSIS ECONOMETRIC MODELING ECONOMETRICS ECONOMIC GROWTH ECONOMIC RESEARCH ECONOMIC STRUCTURE ECONOMICS OF EDUCATION EDUCATIONAL ATTAINMENT ELASTICITY ENVIRONMENTAL CHANGE ENVIRONMENTAL PROTECTION EQUATIONS FLOOD FLOODS GDP GDP PER CAPITA GOOD GOVERNANCE GROSS DOMESTIC PRODUCT PER CAPITA HOMELESS PEOPLE HOUSEHOLD INCOME HOUSEHOLD SIZE HUMAN CAPITAL HUMAN DIMENSIONS HURRICANE ILLNESS IMPORTANT POLICY INCOME INCOME GROUPS INFECTIOUS DISEASE INFRASTRUCTURE DEVELOPMENT LABOR FORCE LABOR MARKET LEVELS OF EDUCATION LOW-INCOME COUNTRY MEDICAL ASSISTANCE MEDICAL TREATMENT NATIONAL GOVERNMENTS NATIONAL LEVEL NATIONAL POPULATION NATURAL DISASTER NATURAL DISASTERS NATURAL GAS NUMBER OF DEATHS NUMBER OF PEOPLE NUMBER OF PERSONS NUTRITION OPPORTUNITY COST PER CAPITA INCOME PERSONAL COMMUNICATION PHYSICAL ENVIRONMENT POLICY FORMULATION POLICY IMPLICATIONS POLICY RESEARCH POLICY RESEARCH WORKING PAPER POPULATION DENSITY POPULATION SIZE PRIMARY EDUCATION PRIMARY SCHOOL PRODUCTION FUNCTION PROGRESS PROPERTY RIGHTS PUBLIC HEALTH PUBLIC SERVICES REAL GDP REAL GROSS DOMESTIC PRODUCT RECONSTRUCTION RESPECT ROLE OF GENDER RULE OF LAW SANITATION SANITATION FACILITIES SCHOOL ATTENDANCE SCHOOL YOUTH SOCIAL SCIENCE STATE UNIVERSITY STORM STORMS SUSTAINABLE DEVELOPMENT TEACHER RATIO TRADE POLICIES TRANSITION ECONOMIES TRAUMA TROUGH TYPE OF DISASTER UNEMPLOYMENT UNEMPLOYMENT RATE VALUE ADDED WAGE RATES WAGES WEALTH This paper provides empirical estimates of the impacts of natural disasters on different forms of capital (with a focus on human and intangible capital and natural capital), and on real gross domestic product per capita. The types of disaster considered are droughts, earthquakes, floods, and storms and their impacts are measured in terms of the number of people affected or people affected per capita. The authors find statistically significant reductions on the values of human and intangible capital and land capital as a consequence of the disasters, and these reductions are greater when the impacts last for longer periods. Based on the assumption that natural disasters indirectly affect the level of income via losses in capital, the authors estimate a Cobb-Douglas production function using the different forms of capital as inputs. The losses in income are found to vary across different countries and the type of natural disaster studied. However, a common finding is that the losses in income depend generally on two factors: the relative magnitude of impacts of a natural disaster and the values of different forms of capital. The estimates in this paper are national level figures and cannot be useful in predicting the cost of damages at the local level, where much larger amounts can be experienced per capita. Nevertheless, the estimates provide some indication of magnitudes for different disasters and for different groups of countries. More work and more data are needed to get a dynamic profile for the losses of capital and income. But given the study's results, the time profile is estimated to range typically between two and five years. 2012-03-19T19:09:28Z 2012-03-19T19:09:28Z 2009-03-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090324155922 http://hdl.handle.net/10986/4070 English Policy Research working paper ; no. WPS 4875 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Publications & Research :: Policy Research Working Paper The World Region The World Region |