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Estimating the Direct Economic Damage of the Earthquake in Haiti

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  • Eduardo A. Cavallo
  • Andrew Powell
  • Oscar Becerra

Abstract

This paper uses simple regression techniques to make an initial assessment of the monetary damages caused by the January 12, 2010 earthquake that struck Haiti. Damages are estimated for a disaster with both 200,000 and 250,000 total dead and missing (i.e., the range of mortality that the earthquake is estimated to have caused) using Haitis economic and demographic data. The base estimate is US$8.1bn for a death toll of 250,000, but for several reasons this may be a lower- bound estimate. An estimate of US$13.9bn for the same death toll is within statistical error. While the results are subject to many caveats, the implications of such an estimate are significant. Raising such a figure will require many donorsbilateral, multilateral and private. Hence excellent coordination of funding and execution will be the key to ensuring the efficient use of funds.

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Bibliographic Info

Paper provided by Inter-American Development Bank in its series IDB Publications with number 6781.

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Date of creation: Feb 2010
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Handle: RePEc:idb:brikps:6781

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Keywords: Disasters; IDB-WP-163;

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Cited by:
  1. Yamamura, Eiji, 2012. "Natural disasters and their long-term effect on happiness: the case of the great Hanshin-Awaji earthquake," MPRA Paper, University Library of Munich, Germany 37505, University Library of Munich, Germany.
  2. Fumio Ohtake & Naoko Okuyama & Masaru Sasaki & Kengo Yasui, 2014. "The Long-term Impact of the 1995 Hanshin-Awaji Earthquake on Wage Distribution," ISER Discussion Paper, Institute of Social and Economic Research, Osaka University 0897, Institute of Social and Economic Research, Osaka University.
  3. Yamamura, Eiji, 2012. "Natural disasters and participation in volunteer activities: A case study of the Great Hanshin-Awaji earthquake," MPRA Paper, University Library of Munich, Germany 37734, University Library of Munich, Germany.
  4. Eiji Yamamura, 2013. "Natural disasters and social capital formation: The impact of the Great Hanshin-Awaji earthquake," EERI Research Paper Series, Economics and Econometrics Research Institute (EERI), Brussels EERI RP 2013/10, Economics and Econometrics Research Institute (EERI), Brussels.
  5. Gabriel J. Felbermayr & Jasmin Gröschl, 2011. "Natural Disasters and the Effect of Trade on Income: A New Panel IV Approach," CESifo Working Paper Series, CESifo Group Munich 3541, CESifo Group Munich.
  6. Coles, John B. & Zhuang, Jun & Yates, Justin, 2012. "Case study in disaster relief: A descriptive analysis of agency partnerships in the aftermath of the January 12th, 2010 Haitian earthquake," Socio-Economic Planning Sciences, Elsevier, Elsevier, vol. 46(1), pages 67-77.
  7. Eduardo Cavallo & Ilan Noy, 2010. "The Aftermath of Natural Disasters: Beyond Destruction," CESifo Forum, Ifo Institute for Economic Research at the University of Munich, Ifo Institute for Economic Research at the University of Munich, vol. 11(2), pages 25-35, 07.
  8. Oscar Becerra & Eduardo Cavallo & Ilan Noy, 2010. "In the Aftermath of Large Natural Disasters, what happens to foreign aid?," Working Papers, University of Hawaii at Manoa, Department of Economics 201018, University of Hawaii at Manoa, Department of Economics.
  9. Yamamura, Eiji, 2011. "The changing effect of legal origin on death tolls in natural disasters from 1960 to 2008," MPRA Paper, University Library of Munich, Germany 33112, University Library of Munich, Germany.
  10. Duha T. Altindag, 2011. "Crime and Unemployment: Evidence from Europe," Auburn Economics Working Paper Series, Department of Economics, Auburn University auwp2011-13, Department of Economics, Auburn University.
  11. Yamamura, Eiji, 2011. "Institution and decomposition of natural-disaster impact on growth," MPRA Paper, University Library of Munich, Germany 35537, University Library of Munich, Germany.
  12. Yamamura, Eiji, 2013. "Impact of natural disasters on income inequality: Analysis using panel data during the period 1965 to 2004," MPRA Paper, University Library of Munich, Germany 45623, University Library of Munich, Germany.
  13. Mampei Hayashi, 2012. "A Quick Method for Assessing Economic Damage Caused by Natural Disasters: An Epidemiological Approach," International Advances in Economic Research, Springer, Springer, vol. 18(4), pages 417-427, November.
  14. Ferreira, Susana & Hamilton, Kirk & Vincent, Jeffrey R., 2011. "Nature, socioeconomics and adaptation to natural disasters: new evidence from floods," Policy Research Working Paper Series, The World Bank 5725, The World Bank.
  15. Hayakawa, Kazunobu & Matsuura, Toshiyuki & Okubo, Fumihiro, 2014. "Firm-level impacts of natural disasters on production networks : evidence from a flood in Thailand," IDE Discussion Papers, Institute of Developing Economies, Japan External Trade Organization(JETRO) 445, Institute of Developing Economies, Japan External Trade Organization(JETRO).

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