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Social and Economic Impact of Disasters: Estimating the Threshold between Low and High Levels of Risk

Author

Listed:
  • Clovis Freire

    (Macroeconomic Policy and Financing for Development Division, ESCAP)

Abstract

Catastrophes caused by natural hazards that hit “without warning” serve as grim reminders of the challenge that governments and civil society face in identifying and protecting the areas that are at risk of extreme events. This paper presents a methodology to estimate the threshold of social and economic impact of disasters that indicate events that were the manifestation of high levels of risk. It shows the result of the application of the methodology to Desinventar dataset, which covers 20 countries/regions, and the change in the level of the threshold in the past forty years. The methodology is expected to contribute to the international effort to identify, assess and monitor disaster risks to allow the effective integration of risk reduction into development strategies.

Suggested Citation

  • Clovis Freire, 2011. "Social and Economic Impact of Disasters: Estimating the Threshold between Low and High Levels of Risk," MPDD Working Paper Series WP/11/15, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
    • Handle: RePEc:unt:wpmpdd:wp/11/15
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    File URL: http://www.unescap.org/sites/default/files/wp-11-15.pdf
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    References listed on IDEAS

    as
    1. Kousky, Carolyn & Cooke, Roger M., 2009. "The Unholy Trinity: Fat Tails, Tail Dependence, and Micro-Correlations," RFF Working Paper Series dp-09-36-rev.pdf, Resources for the Future.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Disasters; risk; social and economic impact;
    All these keywords.

    JEL classification:

    • C16 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Econometric and Statistical Methods; Specific Distributions
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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