Natural Disasters: Mitigating Impact, Managing Risks
AbstractThis paper reviews the literature on the macroeconomic impact of natural disasters and presents the IMFâ€™s role in assisting countries coping with natural catastrophes. Focusing on seven country cases, the paper describes the emergency financing, policy support, and technical assistance provided by the Fund to help governments put together a policy response or build a macro framework to lay the foundation for recovery and/or unlock other external financing. The literature and experience suggests there are ways to strengthen policy frameworks to increase resilience to natural disaster shocks, including identifying the risks and probability of natural disasters and integrating them more explicitly into macro frame-works, increasing flexibility within fiscal frameworks, and improving coordination amongst international partners ex post and ex ante.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 12/245.
Date of creation: 09 Oct 2012
Date of revision:
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-02-16 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Rodney Ramcharan, 2005. "How Big Are The Benefits of Economic Diversification?: Evidence from Earthquakes," IMF Working Papers 05/48, International Monetary Fund.
- Melecky, Martin & Raddatz, Claudio, 2011. "How do governments respond after catastrophes ? natural-disaster shocks and the fiscal stance," Policy Research Working Paper Series 5564, The World Bank.
- Stéphane Hallegatte & Valentin Przyluski, 2010. "The Economics of Natural Disasters," CESifo Forum, Ifo Institute for Economic Research at the University of Munich, vol. 11(2), pages 14-24, 07.
- Rodney Ramcharan, 2005. "Cataclysms and Currencies: Does The Exchange Rate Regime Matter for Real Shocks?," IMF Working Papers 05/85, International Monetary Fund.
- Tobias N. Rasmussen, 2004. "Macroeconomic Implications of Natural Disasters in the Caribbean," IMF Working Papers 04/224, International Monetary Fund.
- RÃ©gis Barnichon, 2008. "International Reserves and Self-Insurance against External Shocks," IMF Working Papers 08/149, International Monetary Fund.
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