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Environmental Disasters and Property Values: Evidence from Nepal’s Forest Fires

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  • Jayash Paudel

Abstract

This article uses satellite data on real-time active fire locations to evaluate the effect of forest fires on property values in Nepal. Results show that an additional unit increase in fire radiative power from last month’s forest fires causes a 0.61% decrease in residential property values. Property values decline by 4.48% for every additional unit increase in the number of forest fire incidents over the past year. These estimates suggest that policy makers should prioritize wildfire-risk awareness and fire-prevention programs in areas with higher levels of declined property values associated with recurring forest fire incidents.

Suggested Citation

  • Jayash Paudel, 2022. "Environmental Disasters and Property Values: Evidence from Nepal’s Forest Fires," Land Economics, University of Wisconsin Press, vol. 98(1), pages 115-131.
    • Handle: RePEc:uwp:landec:v:98:y:2022:i:1:p:115-131
    Note: DOI: 10.3368/le.98.1.110519-0159R2
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    File URL: http://le.uwpress.org/cgi/reprint/98/1/115
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    Citations

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    Cited by:

    1. Paudel, Jayash, 2023. "Do environmental disasters affect human capital? The threat of forest fires," Economics of Education Review, Elsevier, vol. 97(C).
    2. Paudel, Jayash, 2022. "Deadly tornadoes and racial disparities in energy consumption: Implications for energy poverty," Energy Economics, Elsevier, vol. 114(C).
    3. Johnson, Kelsey K. & Parton, Lee & Nolte, Christoph & Williamson, Matt & Nogeire-McRae, Theresa & Paudel, Jayash & Brandt, Jodi, 2023. "Moving to the country: Understanding the effects of Covid-19 on property values and farmland development risk," Journal of Housing Economics, Elsevier, vol. 62(C).
    4. Shakya, Shishir & Basnet, Subuna & Paudel, Jayash, 2022. "Natural disasters and labor migration: Evidence from Nepal’s earthquake," World Development, Elsevier, vol. 151(C).
    5. Paudel, Jayash, 2023. "Shaking things up: Do seismic shocks affect energy choices?," Energy Policy, Elsevier, vol. 172(C).

    More about this item

    JEL classification:

    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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