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It Is Time to Factor Natural Disasters into Macroeconomic Scenarios

Author

Listed:
  • Thomas, Vinod

    (World Bank)

Abstract

Over the recent year, humanity has faced natural disasters of unprecedented magnitude and impact. However, governments and international aid organizations do not systematically plan for preventing and mitigating the effects of natural disasters, and macroeconomic scenarios seldom take into account the results of their increasing incidence, damages, and costs. Using evaluative lessons from the experience of the World Bank, this note highlights the urgent need to invest in climate change mitigation, disaster preparedness, early response, and postdisaster reconstruction.

Suggested Citation

  • Thomas, Vinod, 2011. "It Is Time to Factor Natural Disasters into Macroeconomic Scenarios," World Bank - Economic Premise, The World Bank, issue 52, pages 1-4, March.
    • Handle: RePEc:wbk:prmecp:ep52
    as

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    References listed on IDEAS

    as
    1. Seung-Ki Min & Xuebin Zhang & Francis W. Zwiers & Gabriele C. Hegerl, 2011. "Human contribution to more-intense precipitation extremes," Nature, Nature, vol. 470(7334), pages 378-381, February.
    2. Pardeep Pall & Tolu Aina & Dáithí A. Stone & Peter A. Stott & Toru Nozawa & Arno G. J. Hilberts & Dag Lohmann & Myles R. Allen, 2011. "Anthropogenic greenhouse gas contribution to flood risk in England and Wales in autumn 2000," Nature, Nature, vol. 470(7334), pages 382-385, February.
    3. Peter A. Stott & D. A. Stone & M. R. Allen, 2004. "Human contribution to the European heatwave of 2003," Nature, Nature, vol. 432(7017), pages 610-614, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    earthquake; climate change; mitigation; adaptation; flood; drought; development; developing countries; weather; World Bank; emergency planning;
    All these keywords.

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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