Natural disasters and economic growth: A meta-analysis |
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| Affiliation: | 1. Wageningen University, The Netherlands;2. University of Copenhagen, Denmark;1. Fondazione Eni Enrico Mattei, Isola San Giorgio Maggiore, 30124 Venice, Italy;2. Ca'' Foscari University of Venice, Dorsoduro 3246, 30123 Venice, Italy;3. Euro-Mediterranean Centre on Climate Change, Isola San Giorgio Maggiore, 30124 Venice, Italy;4. University of Milan, Via Festa del Perdono 7, 20122 Milano, Italy;1. Department of Economics, University of Sussex, United Kingdom;2. Central Bank of Sri Lanka, Colombo, Sri Lanka;3. Institute for Environmental Studies, Vrije Universiteit, Amsterdam, Netherlands;4. Department of Spatial Economics, Vrije Universiteit, Amsterdam, Netherlands;5. Tinbergen Institute, Amsterdam, Netherlands;6. CESifo, Munich, Germany |
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| Abstract: | Using more than 750 estimates, we perform a meta-regression analysis of studies examining the relationship between economic growth per capita and natural disasters. The studies considered are very different with respect to the type of disasters considered, the sample of countries and time periods covered, model specification, estimators used and publication outlet. After extensive testing of our results, we conclude that there exists a negative genuine effect of natural disasters on economic growth which is increasing over the period of our analysis. Still, the magnitude differs across disasters included and country sample used. In particular, it turns out that climatic disasters in developing countries have the most significant adverse impact on economic growth. However, we also find some evidence that a part of the negative impact of natural disasters found in these studies is caused by a publication bias. |
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| Keywords: | Natural disasters Economic growth Meta-analysis |
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