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Financing Natural Disaster Risk Using Charity Contributions And Ex Ante Index Insurance

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  • Goes, Anne
  • Skees, Jerry R.

Abstract

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.

Suggested Citation

  • Goes, Anne & Skees, Jerry R., 2003. "Financing Natural Disaster Risk Using Charity Contributions And Ex Ante Index Insurance," 2003 Annual meeting, July 27-30, Montreal, Canada 22188, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea03:22188
    DOI: 10.22004/ag.econ.22188
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    File URL: https://ageconsearch.umn.edu/record/22188/files/sp03go04.pdf
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    References listed on IDEAS

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    1. World Bank, 2001. "The World Bank Annual Report 2001 :Volume 1. Year in Review," World Bank Publications - Books, The World Bank Group, number 13933, December.
    2. Barnett, Barry J., 2014. "Barry J. Barnett," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 46(3), pages 1-2, August.
    3. 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.
    4. Jerry R. Skees & Panos Varangis & Donald F. Larson & Paul Siegel, 2002. "Can Financial Markets be Tapped to Help Poor People Cope with Weather Risks?," WIDER Working Paper Series DP2002-23, World Institute for Development Economic Research (UNU-WIDER).
    5. World Bank, 2002. "The World Bank Annual Report 2002," World Bank Publications - Books, The World Bank Group, number 13931, December.
    6. World Bank, 2002. "The World Bank Annual Report 2002," World Bank Publications - Books, The World Bank Group, number 13932, December.
    7. John D. Pollner, 1999. "Using Capital Markets to Develop Private Catastrophe Insurance," World Bank Publications - Reports 11453, The World Bank Group.
    8. World Bank, 2001. "The World Bank Annual Report 2001," World Bank Publications - Books, The World Bank Group, number 13934, December.
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    Cited by:

    1. Akter, Sonia & Brouwer, Roy & Chowdhury, Saria & Aziz, Salina, 2008. "Determinants of Participation in a Catastrophe Insurance Programme: Empirical Evidence from a Developing Country," 2008 Conference (52nd), February 5-8, 2008, Canberra, Australia 5984, Australian Agricultural and Resource Economics Society.
    2. Barnett, Barry J. & Barrett, Christopher B. & Skees, Jerry R., 2008. "Poverty Traps and Index-Based Risk Transfer Products," World Development, Elsevier, vol. 36(10), pages 1766-1785, October.
    3. Daniel J. Clarke & Olivier Mahul & Richard Poulter & Tse-Ling Teh, 2017. "Evaluating Sovereign Disaster Risk Finance Strategies: A Framework," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 42(4), pages 565-584, October.
    4. Jerry R. Skees & Barry J. Barnett & Anne G. Murphy, 2008. "Creating insurance markets for natural disaster risk in lower income countries: the potential role for securitization," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 68(1), pages 151-167, May.

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