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Economic Assessment of Damage Caused by Drought

Author

Listed:
  • Manuela Panaitescu

    (Danubius University of Galati)

  • Bogdan Andronic

    (Danubius University of Galati)

  • Gheorghe Chiru

    (Danubius University of Galati)

Abstract

High temperatures and prolonged drought have caused farmers, households and agricultural production across Europe to face unprecedented damage in 2019-2021. Drought is a natural feature of climate variability and the water cycle and can occur in all climate areas. It results from a temporary reduction in the normal precipitation regime over an extensive area, but other climatic factors, such as high temperatures and winds or low relative humidity can significantly aggravate the severity of the event. Weather-induced losses and damage in the agricultural sector will lead to lower global agricultural production, causing food insecurity having consequences on the export of food and agricultural products.

Suggested Citation

  • Manuela Panaitescu & Bogdan Andronic & Gheorghe Chiru, 2022. "Economic Assessment of Damage Caused by Drought," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 18(6), pages 196-208, December.
    • Handle: RePEc:dug:actaec:y:2022:i:6:p:196-208
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