Macroeconomic Implications of Natural Disasters in the Caribbean
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
Summary:
Each year natural disasters affect about 200 million people and cause about $50 billion in damage. This paper compares the incidence of natural disasters across countries along several dimensions and finds that the relative costs tend to be far higher in developing countries than in advanced economies. The analysis shows that small island states are especially vulnerable, with the countries of the Eastern Caribbean standing out as among the most disaster-prone in the world. Natural disasters are found to have had a discernible macroeconomic impact, including large effects on fiscal and external balances, pointing to an important role for precautionary measures.
Series:
Working Paper No. 2004/224
Subject:
Environment Financial institutions Fiscal policy Fiscal stance Insurance National accounts Natural disasters Personal income Population and demographics
English
Publication Date:
December 1, 2004
ISBN/ISSN:
9781451875355/1018-5941
Stock No:
WPIEA2242004
Pages:
25
Please address any questions about this title to publications@imf.org