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Natural disasters and the economy: some recent experiences from Southeast Asia

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  • Krislert Samphantharak

Abstract

type="main"> This paper uses recent examples of natural disasters from Southeast Asia to illustrate some important arguments discussed in the literature on natural disasters and the economy. First, the severity of the consequences of disasters depends not only on the natural hazards, but also on societal factors. Second, the effects of the disasters on physical and human capital could go far beyond the directly observable loss of properties and lives. Third, disasters could have positive long-term consequences if they lead to a change in the total factor productivity of the economy. Fourth, the effects of disasters could spread beyond the country of origin, naturally and economically. Finally, assistance from the government provides implicit insurance that could crowd out private insurance, but the failures of the government in dealing with recent catastrophic disasters may help reduce the extent of this effect.

Suggested Citation

  • Krislert Samphantharak, 2014. "Natural disasters and the economy: some recent experiences from Southeast Asia," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 28(2), pages 33-51, November.
  • Handle: RePEc:bla:apacel:v:28:y:2014:i:2:p:33-51
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    File URL: http://hdl.handle.net/10.1111/apel.12075
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    References listed on IDEAS

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    Cited by:

    1. Sommarat Chantarat & Sirikarn Lertamphainont & Krislert Samphantharak, 2016. "Floods and Farmers: Evidence from the Field in Thailand," PIER Discussion Papers 40., Puey Ungphakorn Institute for Economic Research, revised Aug 2016.
    2. Chantarat, Sommarat & Oum, Sothea & Samphantharak, Krislert & Sann, Vathana, 2019. "Natural Disasters, Preferences, and Behaviors: Evidence from the 2011 Mega Flood in Cambodia," Journal of Asian Economics, Elsevier, vol. 63(C), pages 44-74.

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