Impact of disasters

Impact of disasters - Impact of earthquakes, natural...

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Impact of earthquakes, natural disasters on economic growth in Japan MAR 11, 2011 14:56 EST Japan | US Politics How will today’s terrible earthquake and tsunami affect Japan’s economy, not to mention those of other global economies? After spending all day reviewing a bunch of academic research, the verdict remains unclear. For instance, simulations run by the Inter-American Development Bank find only the biggest disasters have an impact. Take disasters in the 99th percentile: The 99th percentile cutoff is equivalent to a natural disaster that kills more than 233 people per million inhabitants. Although the number is large, many recent large events have exceeded this rate. For example, the 2004 Indian Ocean Tsunami killed 772 people per million inhabitants in Indonesia, and almost 2,000 per million inhabitants in Sri Lanka. Moreover, by the latest accounts, the 2010 earthquake in Haiti killed over 20,000 people per million inhabitants (see Cavallo, Powell and Becerra (2010)) For these types of disaster, the economic drag is persistent:
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This note was uploaded on 05/03/2011 for the course BUS 202 taught by Professor Priestley during the Spring '11 term at Concordia MI.

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Impact of disasters - Impact of earthquakes, natural...

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