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Economic and Social Impact of Natural Disasters on European Economies. Risk Management Lessons of Good Practice for Romania

Author

Listed:
  • Virginia Campeanu
  • Emilia Balan

Abstract

The research aims to identify and rank the greatest risks of natural disasters to which Romania will be the subject in the coming years and to emphasize the best practices for risk management of disasters in the European Union. The research on the economic and social impacts of disasters in Romania and Europe is based on disaster’s typology in the last 100 years, to reveal the greatest and the most expensive risks of disasters. For prioritizing prevention measures and mitigation of hazards, this research study realized a multi-criteria ranking of natural disasters in Romania and an analysis of the European experience in the field of risk management of natural disasters, which may contribute to good practice lessons for Romania. The results may constitute the elements of a strategy for disaster risk management in Romania, as well as elements for a strategic move of investors in Romania, interested in some of 4 phases of European Integrated Risk Management (IRM) for disasters.

Suggested Citation

  • Virginia Campeanu & Emilia Balan, 2014. "Economic and Social Impact of Natural Disasters on European Economies. Risk Management Lessons of Good Practice for Romania," Knowledge Horizons - Economics, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 6(2), pages 80-86, June.
    • Handle: RePEc:khe:journl:v:6:y:2014:i:2:p:80-86
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    More about this item

    Keywords

    Natural disasters; global warming; Romania; Europe; risk management;
    All these keywords.

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies
    • O21 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Planning Models; Planning Policy

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