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Natural Disasters; Mitigating Impact, Managing Risks

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  • Nicole Laframboise
  • Boileau Loko

Abstract

This paper reviews the literature on the macroeconomic impact of natural disasters and presents the IMF’s role in assisting countries coping with natural catastrophes. Focusing on seven country cases, the paper describes the emergency financing, policy support, and technical assistance provided by the Fund to help governments put together a policy response or build a macro framework to lay the foundation for recovery and/or unlock other external financing. The literature and experience suggests there are ways to strengthen policy frameworks to increase resilience to natural disaster shocks, including identifying the risks and probability of natural disasters and integrating them more explicitly into macro frame-works, increasing flexibility within fiscal frameworks, and improving coordination amongst international partners ex post and ex ante.

Suggested Citation

  • Nicole Laframboise & Boileau Loko, 2012. "Natural Disasters; Mitigating Impact, Managing Risks," IMF Working Papers 12/245, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:12/245
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=40044
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    References listed on IDEAS

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    1. Thomas Fomby & Yuki Ikeda & Norman V. Loayza, 2013. "The Growth Aftermath Of Natural Disasters," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 28(3), pages 412-434, April.
    2. Stéphane Hallegatte & Valentin Przyluski, 2010. "The Economics of Natural Disasters," CESifo Forum, Ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 11(2), pages 14-24, July.
    3. Rodney Ramcharan, 2005. "Cataclysms and Currencies; Does the Exchange Rate Regime Matter for Real Shocks?," IMF Working Papers 05/85, International Monetary Fund.
    4. Rodney Ramcharan, 2005. "How Big Are the Benefits of Economic Diversification? Evidence from Earthquakes," IMF Working Papers 05/48, International Monetary Fund.
    5. Tobias N. Rasmussen, 2004. "Macroeconomic Implications of Natural Disasters in the Caribbean," IMF Working Papers 04/224, International Monetary Fund.
    6. Melecky, Martin & Raddatz, Claudio, 2011. "How do governments respond after catastrophes ? natural-disaster shocks and the fiscal stance," Policy Research Working Paper Series 5564, The World Bank.
    7. Régis Barnichon, 2008. "International Reserves and Self-Insurance against External Shocks," IMF Working Papers 08/149, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. International Monetary Fund, 2015. "Haiti; Ex Post Assessment of Longer-Term Engagement," IMF Staff Country Reports 15/4, International Monetary Fund.
    2. repec:gam:jsusta:v:10:y:2018:i:4:p:1072-:d:139534 is not listed on IDEAS
    3. Oscar Rodríguez-Espíndola & Juan Gaytán, 2015. "Scenario-based preparedness plan for floods," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 76(2), pages 1241-1262, March.
    4. Floriza Gennari & Diana Arango & Anne-Marie Urban & Jennifer McCleary-Sills, 2015. "Violence Against Women and Girls : Disaster Risk Management Brief
      [Guía de recursos sobre la violencia contra las mujeres y las niñas : nota sectorial de gestión del riesgo de desastres]
      ," World Bank Other Operational Studies 21093, The World Bank.
    5. Palmer, Carolyn, 2014. "'Flood and fire and famine': Tax policy lessons from the Australian responses to natural disasters," Working Paper Series 3718, Victoria University of Wellington, Chair in Public Finance.

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