Financing Natural Disaster Risk Using Charity Contributions And Ex Ante Index Insurance
The scale of loss from natural disasters in low-income countries often exceeds the resources of internal and external sources of relief funding. Catastrophe bonds offer the opportunity to transfer the risk of low-probability, high-loss events to the capital market where there is greater capacity to absorb disaster losses. This paper details some problems inherent in traditional sources of disaster relief and proposes an alternative mechanism for catastrophe risk transfer that unites financial innovations and donor communities.
|Date of creation:||2003|
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- Jerry R. Skees, 1999. "Opportunities for Improved Efficiency in Risk Sharing Using Capital Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(5), pages 1228-1233.
- Skees, Jerry & Varangis, Panos & Larson, Donald & Siegel, Paul, 2002.
"Can Financial Markets be Tapped to Help Poor People Cope with Weather Risks?,"
WIDER Working Paper Series
023, World Institute for Development Economic Research (UNU-WIDER).
- Skees, Jerry & Varangis, Panos & Larson, Donald & Siegel, Paul, 2002. "Can financial markets be tapped to help poor people cope with weather risks ?," Policy Research Working Paper Series 2812, The World Bank.
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