Economic Effects of Natural Disasters explores how natural disasters affect sources of economic growth and development. Using theoretical econometrics and real-world data, and drawing on advances in climate change economics, the book shows scholars and researchers how to use various research methods and techniques to investigate and respond to natural disasters. No other book presents empirical frameworks for the evaluation of the quality of macroeconomic research practice with a focus on climate change and natural disasters. Because many of these subjects are so large, different regions of the world use different approaches, hence this resource presents tailored economic applications and evidence. - Connects economic theories and empirical work in climate change to natural disaster research - Shows how advances in climate change and natural disaster research can be implemented in micro- and macroeconomic simulation models - Addresses structural changes in countries afflicted by climate change and natural disasters

Disasters of the 21st century differ substantially from other kinds of hazards that previous societies have had to cope with because of the twin forces of globalization and the communications revolution. But what makes today’s disasters—industrial, technological, environmental, and socio-cultural—so different in scope and impact? What are the possible disasters of the future? And how can we, as collective humanity, best manage and respond to the globalization of disasters? The Consequences of Global Disasters makes a distinctive contribution to the ever-expanding field of disaster research by developing a multi-contextual, multi-disciplinary and multi-methodological approach to the social analysis of disasters. Anthony Elliott and Eric L. Hsu have brought together a highly distinguished group of international contributors to focus on how people react to the unsettling effects of disasters, which come in a multitude of forms. Numerous contributors concentrate on the cultural, political and psychological ramifications of the 2011 Great East Japan earthquake and tsunami, but disasters in other contexts, such as Australia, China and Haiti, are considered as well. By offering unique empirical, methodological and theoretical insights, The Consequences of Global Disasters sets an agenda for future developments in the field of disaster research and will be a key resource for students and scholars working in social science disciplines such as sociology, cultural studies, international relations, psycho-social studies, social work, Japanese studies and social theory.

This book explores economic concepts related to disaster losses, describes mechanisms that determine the economic consequences of a disaster, and reviews methodologies for making decisions regarding risk management and adaptation. The author addresses the need for better understanding of the consequences of disasters and reviews and analyzes three scientific debates on linkage between disaster risk management and adaptation to climate change. The first involves the existence and magnitude of long-term economic impact of natural disasters on development. The second is the disagreement over whether any development is the proper solution to high vulnerability to disaster risk. The third debate involves the difficulty of drawing connections between natural disasters and climate change and the challenge in managing them through an integrated strategy. The introduction describes economic views of disaster, including direct and indirect costs, output and welfare losses, and use of econometric tools to measure losses. The next section defines disaster risk, delineates between “good” and “bad” risk-taking, and discusses a pathway to balanced growth. A section entitled “Trends in Hazards and the Role of Climate Change” sets scenarios for climate change analysis, discusses statistical and physical models for downscaling global climate scenarios to extreme event scenarios, and considers how to consider extremes of hot and cold, storms, wind, drought and flood. Another section analyzes case studies on hurricanes and the US coastline; sea-level rises and storm surge in Copenhagen; and heavy precipitation in Mumbai. A section on Methodologies for disaster risk management includes a study on cost-benefit analysis of coastal protections in New Orleans, and one on early-warning systems in developing countries. The next section outlines decision-making in disaster risk management, including robust decision-making, No-regret and No-risk strategies; and strategies that reduce time horizons for decision-making. Among the conclusions is the assertion that risk management policies must recognize the benefits of risk-taking and avoid suppressing it entirely. The main message is that a combination of disaster-risk-reduction, resilience-building and adaptation policies can yield large potential gains and synergies.

'Economic losses from natural disasters totaled $92 billion in 2015.' Such statements, all too commonplace, assess the severity of disasters by no other measure than the damage inflicted on buildings, infrastructure, and agricultural production. But $1 in losses does not mean the same thing to a rich person that it does to a poor person; the gravity of a $92 billion loss depends on who experiences it. By focusing on aggregate losses—the traditional approach to disaster risk—we restrict our consideration to how disasters affect those wealthy enough to have assets to lose in the first place, and largely ignore the plight of poor people. This report moves beyond asset and production losses and shifts its attention to how natural disasters affect people’s well-being. Disasters are far greater threats to well-being than traditional estimates suggest. This approach provides a more nuanced view of natural disasters than usual reporting, and a perspective that takes fuller account of poor people’s vulnerabilities. Poor people suffer only a fraction of economic losses caused by disasters, but they bear the brunt of their consequences. Understanding the disproportionate vulnerability of poor people also makes the case for setting new intervention priorities to lessen the impact of natural disasters on the world’s poor, such as expanding financial inclusion, disaster risk and health insurance, social protection and adaptive safety nets, contingent finance and reserve funds, and universal access to early warning systems. Efforts to reduce disaster risk and poverty go hand in hand. Because disasters impoverish so many, disaster risk management is inseparable from poverty reduction policy, and vice versa. As climate change magnifies natural hazards, and because protection infrastructure alone cannot eliminate risk, a more resilient population has never been more critical to breaking the cycle of disaster-induced poverty.

Initial priorities for U.S. participation in the International Decade for Natural Disaster Reduction, declared by the United Nations, are contained in this volume. It focuses on seven issues: hazard and risk assessment; awareness and education; mitigation; preparedness for emergency response; recovery and reconstruction; prediction and warning; learning from disasters; and U.S. participation internationally. The committee presents its philosophy of calls for broad public and private participation to reduce the toll of disasters.

We in the United States have almost come to accept natural disasters as part of our nation's social fabric. News of property damage, economic and social disruption, and injuries follow earthquakes, fires, floods and hurricanes. Surprisingly, however, the total losses that follow these natural disasters are not consistently calculated. We have no formal system in either the public or private sector for compiling this information. The National Academies recommends what types of data should be assembled and tracked.

Disasters of the 21st century differ substantially from other kinds of hazards that previous societies have had to cope with because of the twin forces of globalization and the communications revolution. But what makes today’s disasters—industrial, technological, environmental, and socio-cultural—so different in scope and impact? What are the possible disasters of the future? And how can we, as collective humanity, best manage and respond to the globalization of disasters? The Consequences of Global Disasters makes a distinctive contribution to the ever-expanding field of disaster research by developing a multi-contextual, multi-disciplinary and multi-methodological approach to the social analysis of disasters. Anthony Elliott and Eric L. Hsu have brought together a highly distinguished group of international contributors to focus on how people react to the unsettling effects of disasters, which come in a multitude of forms. Numerous contributors concentrate on the cultural, political and psychological ramifications of the 2011 Great East Japan earthquake and tsunami, but disasters in other contexts, such as Australia, China and Haiti, are considered as well. By offering unique empirical, methodological and theoretical insights, The Consequences of Global Disasters sets an agenda for future developments in the field of disaster research and will be a key resource for students and scholars working in social science disciplines such as sociology, cultural studies, international relations, psycho-social studies, social work, Japanese studies and social theory.