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Natural disasters, risk and migration: evidence from the 2017 Pohang earthquake in Korea‡

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  • Hyejin Kim
  • Jongkwan Lee

Abstract

Using the 2017 Pohang earthquake in South Korea as a natural experiment, we examined the responses of the population. By constructing a counterfactual of Pohang using synthetic controls, we found that the earthquake significantly decreased the local population. To investigate the mechanisms of population decrease, we gathered administrative data on the universe of address changes and self-reported reasons for migration. While out-migration due to changes in the residential environment increased significantly, job-related migration showed little change. This out-migration also led to a depreciation in rental housing prices. Our results suggest that local residents perceived the earthquake as a negative amenity.

Suggested Citation

  • Hyejin Kim & Jongkwan Lee, 2023. "Natural disasters, risk and migration: evidence from the 2017 Pohang earthquake in Korea‡," Journal of Economic Geography, Oxford University Press, vol. 23(5), pages 1017-1035.
    • Handle: RePEc:oup:jecgeo:v:23:y:2023:i:5:p:1017-1035.
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    File URL: http://hdl.handle.net/10.1093/jeg/lbad007
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    More about this item

    Keywords

    Earthquake; migration; housing price; South Korea;
    All these keywords.

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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