Dealing with Increased Risk of Natural Disasters: Challenges and Options

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Price:  $15.00

Author/Editor: Muthukumara Mani, Michael Keen, Paul K. Freeman
Release Date: © October, 2003
ISBN : 978-1-45186-003-0
Stock #: WPIEA1972003
English
Stock Status: Available

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Description

Natural disaster risk is emerging as an increasingly important constraint on economic development and poverty reduction. This paper first sets out the key stylized facts in the area-that the costs of disaster have been increasing, seem set to continue to increase, and bear especially heavily on the poorest. It then reviews the key economic issues at stake, focusing in particular on the actual and prospective roles of, and interaction between, market instruments and public interventions in dealing with disaster risk. Key sources of market failure include the difficulty of risk spreading and, perhaps even more fundamental, the Samaritan's dilemma: the underinvestment in protective measures associated with the rational expectation that others will provide support if disaster occurs. Innovations addressing each of these are discussed.

Taxonomy

Emergency assistance , IMF governance and operations , Operations




More publications in this series: Working Papers


More publications by: Muthukumara Mani ; Michael Keen ; Paul K. Freeman