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Predicting the Path to Recovery from Hurricane Katrina through the Lens of Hurricane Andrew and the Rodney King Riots

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Author Info

  • Robert Baade

    ()
    (Department of Economics and Business, Lake Forest College)

  • Robert Baumann

    ()
    (Department of Economics, College of the Holy Cross)

  • Victor Matheson

    ()
    (Department of Economics, College of the Holy Cross)

Abstract

Hurricane Katrina caused the greatest damage of any hurricane in American history. We look at the rebuilding effort in New Orleans through the lens of two other disasters that occurred in 1992: Hurricane Andrew in Miami and the Rodney King riots in Los Angeles. The rebuilding effort in New Orleans shares similarities with both events, combining the impact of a hurricane on infrastructure and private businesses, and the prospect of an uneven recovery biased against racial minorities and the economically disadvantaged. Using the experience of the King riots, our concern is that the rebuilding effort will be modest at best in poorer areas and slow to develop. There is the prospect of long lasting negative effects on income in poor neighborhoods. In wealthier areas, the pecuniary incentive for private business and citizens to rebuild is stronger, and in some cases the rebuilding effort can cause net income gains in response to a natural disaster of the scale of Hurricane Andrew. Based on these events, we recommend targeting a disproportionate amount of federal transfers towards poorer areas to stimulate growth.

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File URL: http://college.holycross.edu/RePEc/hcx/Matheson_Katrina.pdf
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Bibliographic Info

Paper provided by College of the Holy Cross, Department of Economics in its series Working Papers with number 0515.

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Length: 30 pages
Date of creation: Oct 2005
Date of revision:
Handle: RePEc:hcx:wpaper:0515

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Keywords: riots; hurricane; Rodney King; Katrina; disasters;

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  1. Victor Matheson, 2009. "Economic Multipliers and Mega-Event Analysis," International Journal of Sport Finance, Fitness Information Technology, vol. 4(1), pages 63-70, February.
  2. Stanley Smith & Christopher McCarty, 1996. "Demographic effects of natural disasters: a case study of hurricane andrew," Demography, Springer, vol. 33(2), pages 265-275, May.
  3. Paulo Guimaraes & Frank L. Hefner & Douglas P. Woodward, 1993. "Wealth And Income Effects Of Natural Disasters: An Econometric Analysis Of Hurricane Hugo," The Review of Regional Studies, Southern Regional Science Association, vol. 23(2), pages 97-114, Fall.
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Cited by:
  1. Robert Baade & Robert Baumann & Victor Matheson, 2006. "The Economic Consequences of Professional Sports Strikes and Lockouts: Revisited," Working Papers 0604, College of the Holy Cross, Department of Economics.
  2. Victor Matheson, 2006. "Mega-Events: The effect of the world’s biggest sporting events on local, regional, and national economies," Working Papers 0622, International Association of Sports Economists & North American Association of Sports Economists.
  3. Robert Baade & Robert Baumann & Victor Matheson, 2006. "Selling the Big Game: Estimating the Economic Impact of Mega-Events through Taxable Sales," Working Papers 0610, International Association of Sports Economists & North American Association of Sports Economists.

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