Estimating the Direct Economic Damage of the Earthquake in Haiti
AbstractThis 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 Haiti’s 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 donors—bilateral, 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 InfoPaper provided by Inter-American Development Bank, Research Department in its series Research Department Publications with number 4652.
Date of creation: Feb 2010
Date of revision:
Natural disasters; direct economic damages; Haiti; earthquake; reconstruction; aid and development;
Other versions of this item:
- Eduardo Cavallo & Andrew Powell & Oscar Becerra, 2010. "Estimating the Direct Economic Damages of the Earthquake in Haiti," Economic Journal, Royal Economic Society, vol. 120(546), pages F298-F312, 08.
- Eduardo A. Cavallo & Andrew Powell & Oscar Becerra, 2010. "Estimating the Direct Economic Damage of the Earthquake in Haiti," IDB Publications 6781, Inter-American Development Bank.
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- O19 - Economic Development, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
- O54 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean
- Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters
- F35 - International Economics - - International Finance - - - Foreign Aid
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