1. Natural Catastrophes and Financial Development
- Author
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Mikulíková, Pavla, Horváth, Roman, and Jakubík, Petr
- Subjects
Financial depth ,Přírodní katastrofy ,Finanční efektivita ,Finanční stabilita ,Financial efficiency ,Finanční hloubka ,Finanční rozvoj ,Natural disasters ,Financial development ,Financial access ,Financial stability ,Přístup k financím - Abstract
Master's thesis - Natural Catastrophes and Financial Development Pavla Mikul'ıkov'a Academic year 2022/2023 Natural disasters affect lives of many people every year. Using a panel dataset of 214 countries from 1970 to 2021, this thesis analyses the impact of disasters on financial development, namely on depth, efficiency, access, and sta- bility, using fixed effects and system GMM estimators. The main findings imply that depth and stability are negatively affected by disasters, and the impact is more pronounced for lower-income countries. On the other hand, efficiency and access provide no consistent results. There is no type of disasters, e.g., biologi- cal or geophysical, that would have a significant impact on all types of financial development. The effect probably varies due to the different characteristics of disaster types. 1
- Published
- 2023