The Economic Impact of the Great East Japan Earthquake: Comparison with other disasters, supply chain disruptions, and electric power supply constraint (Japanese)
The Great East Japan Earthquake of March 11, 2011 had a serious negative impact on the Japanese economy. The earthquake reduced production substantially not only in the regions that were directly affected but also throughout Japan via the disruption of supply chains. The meltdowns at the Fukushima Daiichi Nuclear Power Plant caused the shutdown of many other nuclear power plants as a result of a greater awareness of the risks associated with operating them in a country prone to earthquakes and tsunamis. Chapter 1 of this paper surveys previous research on the economic impacts of various disasters around the world, and compares them with that of the Great East Japan Earthquake. Chapter 2 examines the economic impact of the supply chain disruptions immediately following the earthquake using regional input-output (IO) tables, the Japanese Industrial Productivity (JIP) database, and other statistics, and analyzes its scale as well as the extent of the damage mitigating effect of building multiple supply chains to cope with potential natural disasters in the future. Chapter 3 also uses regional IO tables, the JIP database, and other statistics to examine the economic impact of the power shortages immediately after the earthquake and, in addition, in the coming few years. The main finding of Chapter 3 shows that electricity shortages may reduce domestic production substantially in the coming years, while the expected increase in electricity prices will not lead to a sharp increase in output prices in the other sectors of the economy apart from the electricity sector itself.
|Date of creation:||Mar 2012|
|Contact details of provider:|| Postal: 11th floor, Annex, Ministry of Economy, Trade and Industry (METI) 1-3-1, Kasumigaseki Chiyoda-ku, Tokyo, 100-8901|
Web page: http://www.rieti.go.jp/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:eti:rpdpjp:12004. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (KUMAGAI, Akiko)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.