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Title:Analysing the impact of natural hazards in small economies: The Caribbean case PDF Logo
Authors:Heger, Martin
Julca, Alex
Paddison, Oliver
Issue Date:2008
Series/Report no.:Research Paper, UNU-WIDER, United Nations University (UNU) 2008/25
Abstract:This paper analyses the impact of natural disasters in the Caribbean. The economic impact of natural disasters in the region has been significant, resulting in widespread destruction of the productive economy. This paper presents the main macroeconomic impact of disasters, e.g., a deteriorating fiscal balance, a collapse of growth and a worsening external balance, as a consequence of damage resulting from the event. By making special reference to the small-island developing state nature of many countries in the region, valuable lessons of the impact of such disasters on the capital stock can be learnt, particularly as the interruption of production of goods and services can be particularly devastating in an environment where few large sectors (agriculture, tourism) dominate the economic landscape.
Subjects:natural disasters
Caribbean
diversification
trade and environment
JEL:Q54
O54
L25
F14
ISBN:978-92-9230-071-5
Document Type:Working Paper
Appears in Collections:WIDER Research Papers, United Nations University (UNU)

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