Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/145501 
Year of Publication: 
2016
Series/Report no.: 
Beiträge zur Jahrestagung des Vereins für Socialpolitik 2016: Demographischer Wandel - Session: Development Economics: Insurance and Networks No. B13-V2
Publisher: 
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft, Kiel und Hamburg
Abstract: 
This paper provides new evidence on the negative effect of natural catastrophes on economic development. The findings indicate that private insurance markets accommodate the negative effects of natural catastrophes in developed countries, whereas they do not seem to be effective in developing countries. This pattern explains the heterogenous effects of natural disasters on income that have been found in previous studies. The results suggest that insurance and a stable, well-institutionalized environment complement each other in mediating the negative disaster shock. The analysis is based on novel data on natural disasters and global insurance penetration rates and contributes to the ongoing debate about the implications of natural catastrophes for development.
JEL: 
Q54
Q56
O13
Document Type: 
Conference Paper

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