Title: Hurricanes, economic growth and transmission channels
Subtitle: Empirical evidence for developed and underdeveloped countries
Authors: Berlemann, Michael 
Wenzel, Daniela 
Language: en
Issue Date: 2016
Publisher: CESifo, Center for Economic Studies & Ifo Institute
Document Type: Working Paper
Journal / Series / Working Paper (HSU): CESifo working papers 
Issue: 6041
Publisher Place: München
While the short-term growth consequences of natural disasters are comparatively well studied, there is little knowledge how disasters affect long-run growth. Based on truly exogenous storm indicators, derived from a meteorological database, we show that the growth effects of tropical storms go well beyond the short-term perspective. These negative growth effects of hurricanes are especially pronounced in underdeveloped countries which have comparatively little possibilities to protect against storm consequences. We show that the negative growth effects in underdeveloped countries are amplified by an increase in net fertility and a decrease in educational efforts in the aftermath of occurring hurricanes.
Organization Units (connected with the publication): VWL, insb. Politische Ökonomik und empirische Wirtschaftsforschung 
URL: https://ub.hsu-hh.de/DB=1.8/XMLPRS=N/PPN?PPN=865908745
Appears in Collections:2016

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