Understanding the Economic and Financial Impacts of Natural Disasters: An Assessment of Their Effects and Options for Mitigation

Book Description
Reported disaster losses have risen rapidly over the last few decades, triggering a growing awareness of the potential damage caused by natural hazards. However, there is limited knowledge or understanding of their broader macroeconomic significance or the problems they pose for long-term development. Drawing on evidence from Bangladesh, Dominica and Malawi, Understanding the Economic and Financial Impacts of Natural Disasters explores these macro-economic and development issues. The report examines the short and long-term economic and financial impacts of natural disasters, the factors that contribute to underlying sensitivities, and identifies opportunities for improving the economic management of risk and disasters as they unfold.


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Benson and Clay of the London based Overseas Development Institute were the principal researchers for this three-year study, initiated to investigate the short- and long-term economic and financial consequences of natural disasters and their public policy implications. The study relies in part on in-depth case studies of overalls sensitivity to natural hazards in the island of Dominica, public finance consequences of disasters in Bangladesh, and the economic consequences of climatic change and climatic forecasting in Malawi and southern Africa. The authors argue that natural hazard risk management should be integrated into longer-term national investment and development strategies and the basis for funding risk management plans should be expanded. Annotation ©2004 Book News, Inc., Portland, OR


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