The Opportunity of a Disaster: The Economic Impact of the 1755 Lisbon Earthquake
AbstractBy combining new archival and existing data, this paper provides estimates of the economic impact of the 1755 Lisbon earthquake, the largest ever-recorded natural catastrophe in Europe. The direct cost of the earthquake is estimated to be between 32 and 48 percent of the Portuguese GDP. In spite of strict controls, prices and wages remained volatile in the years after the tragedy. The recovery from earthquake also led to a rise in the wage premium of construction workers. More significantly, the earthquake became an opportunity for economic reform and to reduce the economic semi-dependency vis-à-vis Britain.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by CHERRY, c/o Department of Economics, University of York in its series Centre for Historical Economics and Related Research at York (CHERRY) Discussion Papers with number 06/03.
Date of creation: Dec 2006
Date of revision:
Contact details of provider:
Postal: c/o Sue Bowden, Department of Economics and Related Studies, University of York, York, YO10 5DD, United Kingdom
Phone: (0)1904 323776
Fax: (0)1904 323759
Web page: http://www.york.ac.uk/economics/research/research-clusters/cherry/
More information through EDIRC
Lisbon 1755 earthquake; natural disasters; economic development;
Find related papers by JEL classification:
- N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
- Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters
- O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
This paper has been announced in the following NEP Reports:
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.:
- Mark Skidmore & Hideki Toya, 2002. "Do Natural Disasters Promote Long-Run Growth?," Economic Inquiry, Western Economic Association International, vol. 40(4), pages 664-687, October.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Doriana Delfino) The email address of this maintainer does not seem to be valid anymore. Please ask Doriana Delfino to update the entry or send us the correct address.
If references are entirely missing, you can add them using this form.