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A Replication of “Economic Development and the Impacts of Natural Disasters†(Economics Letters 2007)*

* This paper is a replication of an original study

Author

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  • Robert Mercer
  • W. Robert Reed

Abstract

This study replicates the empirical findings of Toya and Skidmore (2007), henceforth TS, and performs a variety of robustness checks. Using an extensive data set of international disasters, TS report that a number of economic development variables are significantly related to mitigation of adverse disaster consequences. We are able to exactly replicate their findings. Our robustness checks consist of two parts. First, we update TS’s original data set, with respect to both variable values and years of coverage. We then address a number of estimation and specification issues. With one exception, our robustness checks fail to find strong evidence that economic development variables (income, educational attainment, size of government, economic openness, and financial sector development) are statistically related to either fatalities or economic damages. The exception is that we find that higher national income is associated with reduced economic losses (as a share of gross domestic product) from natural disasters.

Suggested Citation

  • Robert Mercer & W. Robert Reed, 2015. "A Replication of “Economic Development and the Impacts of Natural Disasters†(Economics Letters 2007)," Public Finance Review, , vol. 43(2), pages 155-178, March.
    • Handle: RePEc:sae:pubfin:v:43:y:2015:i:2:p:155-178
    DOI: 10.1177/1091142113510197
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    References listed on IDEAS

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    1. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-838, May.
    2. William Greene, 2004. "Fixed Effects and Bias Due to the Incidental Parameters Problem in the Tobit Model," Econometric Reviews, Taylor & Francis Journals, vol. 23(2), pages 125-147.
    3. Matthew E. Kahn, 2005. "The Death Toll from Natural Disasters: The Role of Income, Geography, and Institutions," The Review of Economics and Statistics, MIT Press, vol. 87(2), pages 271-284, May.
    4. Toya, Hideki & Skidmore, Mark, 2007. "Economic development and the impacts of natural disasters," Economics Letters, Elsevier, vol. 94(1), pages 20-25, January.
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    Citations

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    Cited by:

    1. Hernández Alemán, Anastasia & León, Carmelo J., 2018. "La Réplica en el Análisis Económico Aplicado/Replication in Applied Economic Analysis," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 36, pages 317-332, Enero.

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    Replication

    This item is a replication of:
  • Toya, Hideki & Skidmore, Mark, 2007. "Economic development and the impacts of natural disasters," Economics Letters, Elsevier, vol. 94(1), pages 20-25, January.

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