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Policy-relevant Assessment Method of Socio-economic Impacts of Floods: An Italian Case Study

Author

Listed:
  • Fabio, Farinosi
  • Carrera, Lorenzo
  • Maziotis, Alexandros
  • Mysiak, Jaroslav
  • Eboli, Fabio
  • Standardi, Gabriele

Abstract

This paper estimates the direct and indirect socio-economic impacts of the 2000 flood that took place in the Po river basin (Italy) using a combination of Computable General Equilibrium (CGE) model and Spatial and Multi-Criteria Analysis. A risk map for the whole basin is generated as a function of hazard, exposure and vulnerability. The indirect economic losses are assessed using the CGE model, whereas the direct social and economic impacts are estimated with spatial analysis tools combined with Multi-Criteria Analysis. The social impact is expressed as a function of physical characteristics of the extreme event, social vulnerability and adaptive capacity. The results indicate that the highest risk areas are located in the mountainous and in the most populated portions of the basin, which are consistent with the high values of hazard and vulnerability. Considerably economic damages occurred to the critical infrastructure of all the sectors with the industry/commercial sector having the biggest impact. A negative variation in the country and industry Gross Domestic Product (GDP) was also reported. Our study is of great interest to those who are interested in estimating the economic impact of flood events. It can also assist decision makers in pinpointing factors that threaten the sustainability and stability of a risk-prone area and more specifically, to help them understand how to reduce social vulnerability to flood events.

Suggested Citation

  • Fabio, Farinosi & Carrera, Lorenzo & Maziotis, Alexandros & Mysiak, Jaroslav & Eboli, Fabio & Standardi, Gabriele, 2012. "Policy-relevant Assessment Method of Socio-economic Impacts of Floods: An Italian Case Study," Climate Change and Sustainable Development 143117, Fondazione Eni Enrico Mattei (FEEM).
    • Handle: RePEc:ags:feemcl:143117
    DOI: 10.22004/ag.econ.143117
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    Cited by:

    1. Bosello, Francesco & De Cian, Enrica, 2014. "Climate change, sea level rise, and coastal disasters. A review of modeling practices," Energy Economics, Elsevier, vol. 46(C), pages 593-605.
    2. Jahn, Malte, 2014. "A spatial computable general equilibrium model for the analysis of regional climate change impacts and adaptation policies," HWWI Research Papers 154, Hamburg Institute of International Economics (HWWI).
    3. Santosh R. Joshi & Marc Vielle & Frédéric Babonneau & Neil R. Edwards & Philip B. Holden, 2016. "Physical and Economic Consequences of Sea-Level Rise: A Coupled GIS and CGE Analysis Under Uncertainties," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 65(4), pages 813-839, December.
    4. Carrera, Lorenzo & Standardi, Gabriele & Bosello, Francesco & Mysiak, Jaroslav, "undated". "Assessing Direct and Indirect Economic Impacts of a Flood Event Through the Integration of Spatial and Computable General Equilibrium Modelling," Climate Change and Sustainable Development 186681, Fondazione Eni Enrico Mattei (FEEM).

    More about this item

    Keywords

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    JEL classification:

    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water

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