The impact of climate change on global tropical storm damages
AbstractThis paper constructs an integrated assessment model of tropical cyclones in order to quantify the impact that climate change may have on tropical cyclone damages in countries around the world. The paper relies on a tropical cyclone generator in each ocean and several climate models to predict tropical cyclones with and without climate change. A damage model is constructed to compute the resulting damage when a cyclone strikes each country. Economic development is expected to double global tropical cyclone damages because more will be in harm's way. Climate change is expected to double global damage again, causing an additional $54 billion of damage per year. The damage is projected to be concentrated in North America and eastern Asia but many Caribbean islands will suffer the highest damages per unit of GDP. Most of the increased damage will be caused by rare but very powerful storms.
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Bibliographic InfoPaper provided by The World Bank in its series Policy Research Working Paper Series with number 5562.
Date of creation: 01 Feb 2011
Date of revision:
Climate Change Economics; Climate Change Mitigation and Green House Gases; Hazard Risk Management; Science of Climate Change; Global Environment Facility;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-11-14 (All new papers)
- NEP-DEV-2011-11-14 (Development)
- NEP-ENE-2011-11-14 (Energy Economics)
- NEP-ENV-2011-11-14 (Environmental Economics)
- NEP-RES-2011-11-14 (Resource Economics)
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.:
- Tol, Richard S. J. & Narita, Daiju & Anthoff, David, 2008. "Damage Costs of Climate Change through Intensification of Tropical Cyclone Activities: An Application of FUND," Papers WP259, Economic and Social Research Institute (ESRI).
- Hallegatte, Stephane, 2012. "A cost effective solution to reduce disaster losses in developing countries : hydro-meteorological services, early warning, and evacuation," Policy Research Working Paper Series 6058, The World Bank.
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