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Quantifying through Ex Post Assessments the Micro-Level Impacts of Sovereign Disaster Risk Financing and Insurance Programs
- Publication Year :
- 2015
- Publisher :
- World Bank, Washington, DC, 2015.
-
Abstract
- Uninsured natural disasters can have devastating effects on human welfare and economic growth, particularly in developing countries where large segments of the population are in poverty and government resources and capacity to assist in relief, recovery, and reconstruction are limited. Therefore there is interest in exploring how these countries can design and implement disaster relief financing and insurance programs. This paper discusses four aspects of the microeconomics of disaster relief financing and insurance programs that are important for the ex post impact evaluation of such programs: (1) use of game setups to analyze the private willingness-to-pay for disaster protection through risk transfer or risk retention instruments; (2) use of ex post analysis of existing disaster relief financing and insurance schemes (such as Mexico’s programs) to analyze the willingness to provide political support to such schemes; (3) use of ex post analysis of existing schemes to analyze not only ex post coping with shock, but also the ex ante risk management impact of disaster relief financing and insurance schemes, with the expectation that the latter can have a large effects on growth; and (4) use of mainly global data to do ex post impact analysis of natural disasters and the resilience-enhancing value of disaster relief financing and insurance schemes (examples exist for the disaster-impact relationship that can be extended to the role of disaster relief financing and insurance in risk reduction, coping with shock, and risk management). The paper proposes concrete research projects to pursue the analysis of these four dimensions of micro-level impacts of disaster relief financing and insurance.
- Subjects :
- HEAT WAVES
INFORMATION
INVESTMENT
RIGHTS
ECONOMIC GROWTH
DISASTER EVENTS
HURRICANE
PROGRAMS
EXTREME EVENTS
EXTERNALITIES
DISASTER REDUCTION
EMPLOYMENT
DISCIPLINE
LOSS
INSURANCE COVERAGE
LOSSES
DAMAGE
INCOME
INVESTMENTS
OUTCOMES
RISK REDUCTION
BASIS RISK
TROPICAL CYCLONE
CIVIL WAR
ENVIRONMENTAL DISASTER
EARTHQUAKES
INCENTIVES
COVERAGE
CATASTROPHIC NATURAL DISASTERS
PRIVATE INSURANCE
TECHNOLOGICAL INNOVATIONS
RESERVES
BANK
MORAL HAZARD
WAR
FARMERS
RISK MANAGEMENT
ORGANIZATIONS
MODELS
DEVELOPMENT ECONOMICS
DEMOCRACY
MITIGATION
MARKETS
RESIDUAL RISK
FINANCE
SUSTAINABILITY
IMPACT ANALYSIS
PROPERTY RIGHTS
FLOOD
BUILDING CODES
WELFARE
FIRES
PRODUCTION
SAFETY NET
DUST BOWL
MORTALITY
CYCLONES
RISK TAKING
RELIEF
WARS
RISKS
GUARANTEES
SUPPLY
SAVING
SOCIAL SECURITY
ECONOMIC CONDITIONS
FINANCIAL PRODUCTS
DISTRIBUTION SYSTEM
DROUGHTS
INNOVATION
CATASTROPHIC EVENTS
INFANT MORTALITY
CLIMATE CHANGE
MORAL HAZARDS
FLOODING
CATASTROPHIC INSURANCE
INSURANCE POOLS
POLITICAL ECONOMY
EARTHQUAKE
DROUGHT
DISPLACEMENT
VALUE
SECURITY
RISK
DISASTER AID
FOOD SECURITY
POLICIES
TROPICAL CYCLONES
EMERGENCY
POLICY
SAFETY
DISASTERS
FOREST FIRES
EFFECTS
INSURANCE
NATURAL DISASTERS
RISK INSURANCE
EFFICIENCY
DISASTER RELIEF
INSURANCE SCHEMES
EARLY WARNING SYSTEMS
EARLY WARNING
INNOVATIONS
NATURAL DISASTER
CREDIT
MANAGEMENT
DISASTER RISK FINANCING
TSUNAMIS
TECHNOLOGY
DAMAGES
LABOR
AGENTS
RIGHT TO WORK
CATASTROPHIC RISKS
FLOODS
ECONOMICS
INSURANCE PRODUCTS
INDEMNITY
INTEREST
RISK TRANSFER
DEATH TOLLS
ECONOMIC SYSTEMS
WARNING SYSTEMS
MOTIVATION
TYPHOON
DISASTER
SAVINGS
DISASTER RISK
INSURANCE MARKETS
SEARCH COSTS
INSURANCE FUNDS
FINANCIAL INSTRUMENTS
LAW
Subjects
Details
- Language :
- English
- Database :
- OpenAIRE
- Accession number :
- edsair.od......2456..09fe71ab09072b248625cc3474349c48