Policy Trade Offs In Building Resilience To Natural Disasters The Case Of St Lucia
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Policy Trade Offs In Building Resilience To Natural Disasters The Case Of St Lucia
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Author : Alessandro Cantelmo
language : en
Publisher: International Monetary Fund
Release Date : 2019-03-08
Policy Trade Offs In Building Resilience To Natural Disasters The Case Of St Lucia written by Alessandro Cantelmo and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-08 with Nature categories.
Resilience to climate change and natural disasters hinges on two fundamental elements: financial protection —insurance and self-insurance— and structural protection —investment in adaptation. Using a dynamic general equilibrium model calibrated to the St. Lucia’s economy, this paper shows that both strategies considerably reduce the output loss from natural disasters and studies the conditions under which each of the two strategies provides the best protection. While structural protection normally delivers a larger payoff because of its direct dampening effect on the cost of disasters, financial protection is superior when liquidity constraints limit the ability of the government to rebuild public capital promptly. The estimated trade-off is very sensitive to the efficiency of public investment.
Policy Trade Offs In Building Resilience To Natural Disasters
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Author :
language : en
Publisher:
Release Date : 2019
Policy Trade Offs In Building Resilience To Natural Disasters written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
Resilience to climate change and natural disasters hinges on two fundamental elements: financial protection —insurance and self-insurance— and structural protection —investment in adaptation. Using a dynamic general equilibrium model calibrated to the St. Lucia’s economy, this paper shows that both strategies considerably reduce the output loss from natural disasters and studies the conditions under which each of the two strategies provides the best protection. While structural protection normally delivers a larger payoff because of its direct dampening effect on the cost of disasters, financial protection is superior when liquidity constraints limit the ability of the government to rebuild public capital promptly. The estimated trade-off is very sensitive to the efficiency of public investment.
Policy Trade Offs In Building Resilience To Natural Disasters The Case Of St Lucia
DOWNLOAD
Author : Alessandro Cantelmo
language : en
Publisher: International Monetary Fund
Release Date : 2019-03-08
Policy Trade Offs In Building Resilience To Natural Disasters The Case Of St Lucia written by Alessandro Cantelmo and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-08 with Nature categories.
Resilience to climate change and natural disasters hinges on two fundamental elements: financial protection —insurance and self-insurance— and structural protection —investment in adaptation. Using a dynamic general equilibrium model calibrated to the St. Lucia’s economy, this paper shows that both strategies considerably reduce the output loss from natural disasters and studies the conditions under which each of the two strategies provides the best protection. While structural protection normally delivers a larger payoff because of its direct dampening effect on the cost of disasters, financial protection is superior when liquidity constraints limit the ability of the government to rebuild public capital promptly. The estimated trade-off is very sensitive to the efficiency of public investment.
Building Resilience In Developing Countries Vulnerable To Large Natural Disasters
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Author : International Monetary Fund. Strategy, Policy, & Review Department
language : en
Publisher: International Monetary Fund
Release Date : 2019-06-26
Building Resilience In Developing Countries Vulnerable To Large Natural Disasters written by International Monetary Fund. Strategy, Policy, & Review Department and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-26 with Nature categories.
This paper discusses how countries vulnerable to natural disasters can reduce the associated human and economic cost. Building on earlier work by IMF staff, the paper views disaster risk management through the lens of a three-pillar strategy for building structural, financial, and post-disaster (including social) resilience. A coherent disaster resilience strategy, based on a diagnostic of risks and cost-effective responses, can provide a road map for how to tackle disaster related vulnerabilities. It can also help mobilize much-needed support from the international community.
St Lucia
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Author : International Monetary Fund. Western Hemisphere Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2018-06-20
St Lucia written by International Monetary Fund. Western Hemisphere Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-20 with Business & Economics categories.
This 2018 Article IV Consultation highlights that the GDP growth in St. Lucia reached 3 percent in 2017, sustained by robust activity in several sectors. Favorable external conditions, coupled with hotel expansions and the addition of new flights, generated a strong recovery in tourism, with stay-over arrivals rising by 11 percent, the fastest growth in the Caribbean. Backed by strong tourism inflows, the current account balance strengthened. Unemployment declined from 21.3 percent in 2016 to 20.2 percent in 2017, but youth unemployment remains high at 38.5 percent and labor force participation has fallen. The short-term outlook is favorable, but prospects beyond that are sobering. GDP growth is expected to remain buoyant in the near term.
Macroeconomic Outcomes In Disaster Prone Countries
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Author : Mr.Alessandro Cantelmo
language : en
Publisher: International Monetary Fund
Release Date : 2019-10-11
Macroeconomic Outcomes In Disaster Prone Countries written by Mr.Alessandro Cantelmo and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-10-11 with Nature categories.
Using a dynamic stochastic general equilibrium model, we study the channels through which natural disaster shocks affect macroeconomic outcomes and welfare in disaster-prone countries. We solve the model using Taylor projection, a solution method that is shown to deal effectively with high-impact weather shocks calibrated in accordance to empirical evidence. We find large and persistent effects of weather shocks that significantly impact the income convergence path of disaster-prone countries. Relative to non-disaster-prone countries, on average, these shocks cause a welfare loss equivalent to a permanent fall in consumption of 1.6 percent. Welfare gains to countries that self-finance investments in resilient public infrastructure are found to be negligible, and international aid has to be sizable to achieve significant welfare gains. In addition, it is more cost-effective for donors to contribute to the financing of resilience before the realization of disasters, rather than disbursing aid after their realization.
Handbook On The Economics Of Disasters
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Author : Skidmore, Mark
language : en
Publisher: Edward Elgar Publishing
Release Date : 2022-10-13
Handbook On The Economics Of Disasters written by Skidmore, Mark and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-10-13 with Social Science categories.
Evaluating the myriad dimensions of how disasters can affect economic activity and decision-making, this cutting-edge Handbook presents a timely analysis of the conditions that reduce or exacerbate disaster impacts. Addressing developments in research on disaster economics, internationally recognized scholars combine theoretical considerations with empirical methods to expand and improve the field of disaster mitigation.
Planning And Mainstreaming Adaptation To Climate Change In Fiscal Policy
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Author : Emanuele Massetti
language : en
Publisher: International Monetary Fund
Release Date : 2022-03-23
Planning And Mainstreaming Adaptation To Climate Change In Fiscal Policy written by Emanuele Massetti and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-03-23 with Business & Economics categories.
This Staff Climate Note is part of a series of three Notes (IMF Staff Climate Note 2022/001, 2022/002, and 2022/003) that discuss fiscal policies for climate change adaptation. A first Note (Bellon and Massetti 2022, henceforth Note 1) examines the economic principles that can guide the integration of climate change adaptation into fiscal policy. It argues that climate change adaptation should be part of a holistic, sustainable, and equitable development strategy. To maximize the impact of scarce resources, governments need to prioritize among all development programs, including but not limited to adaptation. To this end, they can use cost-benefit analysis while ensuring that the decision-making process reflects society’s preferences about equity and uncertainty. A second Note (Aligishiev, Bellon, and Massetti. 2022, henceforth Note 2) discusses the macro-fiscal implications of climate change adaptation. It reviews evidence on the effectiveness of adaptation at reducing climate change damages, on residual risks, and on adaptation investment needs, and suggests ways to integrate climate risks and adaptation costs into national macro-fiscal frameworks with the goal of guiding fiscal policy. It stresses that lower-income vulnerable countries, which have typically not contributed much to climate change, face exacerbated challenges that warrant increased international support. This third Note considers how to translate adaptation principles and estimates of climate impacts into effective policies.
St Lucia
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Author : International Monetary Fund. Western Hemisphere Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2018-06-21
St Lucia written by International Monetary Fund. Western Hemisphere Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-21 with Business & Economics categories.
This paper takes stock of St. Lucia’s plans to manage climate change, from the perspective of their macroeconomic implications, and suggests macro-relevant reforms that could strengthen the likelihood of success of the national strategy. To meet its renewable energy plans, St. Lucia will need to mobilize private investment. External assistance will be needed to develop supporting infrastructure. Building capacity for project assessment and investment promotion is a high priority, to shape needed investments into bankable projects. Elsewhere, capacity-building would be most useful to help cost sectoral plans, complete the disaster-preparedness strategy, move toward carbon taxation, and strengthen skills in public investment management and public financial management.
Samoa Technical Assistance Report Climate Macroeconomic Assessment Program
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2022-03-21
Samoa Technical Assistance Report Climate Macroeconomic Assessment Program written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-03-21 with Business & Economics categories.
Samoa is highly exposed to natural hazards such as tropical cyclones, earthquakes, tsunamis, droughts, and floods. These damage economic growth and impact debt sustainability adversely. Increasing frequency and intensity of coastal storms are likely to amplify damage to infrastructure and livelihoods. Slow-moving climate stresses such as sea level rise and increasing heat hazard are also likely to impact potential growth in the main economic sectors such as agriculture, fisheries, and tourism.