IDEAS home Printed from https://ideas.repec.org/a/khe/journl/v9y2017i2p59-63.html
   My bibliography  Save this article

The Role Of The Public Sector In Catastrophic Risk Management

Author

Listed:
  • Cristina Ciumas

    ()

  • Ramona Alexandrina Coca

    ()

  • Diana-Maria Chis

    ()

Abstract

This paper approaches the impact of natural catastrophes on budget balance and also the principal methods of disaster risk management. Taking into account Romania’s exposure to flood risk and earthquake risk we’ll pay a special attention to these two categories. We’ll analyze how public sector is involved in managing catastrophic risk both in our country but also in other Member States of European Union. After identifying public institutions responsible for an appropriate management of catastrophes consequences three types of actions will be presented: preventive, operational and recovery actions. Also, the steps taken by our country in order to align to European regulation will be discussed. Given the impact of extreme events in most cases local financial capacity is exceeded. The Member States can access European Solidarity Fund, the conditions of applying for intervention being presented. A numerical illustration will be provided for a better image on the budget that management of catastrophic risk involves.

Suggested Citation

  • Cristina Ciumas & Ramona Alexandrina Coca & Diana-Maria Chis, 2017. "The Role Of The Public Sector In Catastrophic Risk Management," Knowledge Horizons - Economics, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 9(2), pages 59-63, June.
  • Handle: RePEc:khe:journl:v:9:y:2017:i:2:p:59-63
    as

    Download full text from publisher

    File URL: http://orizonturi.ucdc.ro/arhiva/khe-vol9-nr2-2017/9.%20CATASTROPHIC%20RISK%20MANAGEMENT.pdf
    Download Restriction: no

    File URL: http://orizonturi.ucdc.ro/arhiva/khe-vol9-nr2-2017/9.%20CATASTROPHIC%20RISK%20MANAGEMENT.pdf
    Download Restriction: no

    More about this item

    Keywords

    Public institutions; Intervention Fund; European Solidarity Fund;

    JEL classification:

    • H1 - Public Economics - - Structure and Scope of Government

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:khe:journl:v:9:y:2017:i:2:p:59-63. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Adi Sava). General contact details of provider: http://edirc.repec.org/data/ffucdro.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.