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Disasters and capital accumulation: the case of Southeast Asia

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  • Kensuke Molnar-Tanaka
  • Bong-Geun Choi
  • JungJae Park

Abstract

Countries in Southeast Asia are highly exposed to disasters and the exposure is increasing in recent years. Capital accumulation is one of the important factors as a buffer to shocks of disasters. We examine the impact of disasters on capital accumulation in selected Southeast Asian countries, using a dynamic stochastic general equilibrium (DSGE) approach. The result shows that frequent disasters lower the long-term capital stock. This paper also discusses policy measures of promoting capital accumulation and compare two policy options: i) providing subsidies to incentivize further investment; and ii) encouraging competition and concludes that a competitive environment will be critical to strengthen capital accumulation against disasters.

Suggested Citation

  • Kensuke Molnar-Tanaka & Bong-Geun Choi & JungJae Park, 2026. "Disasters and capital accumulation: the case of Southeast Asia," Applied Economics Letters, Taylor & Francis Journals, vol. 33(7), pages 1069-1072, April.
    • Handle: RePEc:taf:apeclt:v:33:y:2026:i:7:p:1069-1072
    DOI: 10.1080/13504851.2024.2407511
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