Dealing with Increased Risk of Natural Disasters : Challenges and Options

Dealing with Increased Risk of Natural Disasters : Challenges and Options
Get Code Buy
Journal Issue
Share
Volume/Issue:
2003/197
Series:
IMF Working Papers
Author(s):
Michael Keen, Paul Freeman, and Muthukumara Mani
Publisher:
INTERNATIONAL MONETARY FUND
Published Date:
October 2003
DOI:
http://dx.doi.org/10.5089/9781451860030.001
ISBN:
9781451860030
ISSN:
1018-5941
Page:
38
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.
Article

Dealing with Increased Risk of Natural Disasters

Author(s):
Michael Keen, Paul Freeman, and Muthukumara Mani
Published Date:
October 2003
    Share
    • ShareShare
    Show Summary Details
    You are not logged in and do not have access to this content. Please login or, to subscribe to IMF eLibrary, please click here

    Other Resources Citing This Publication

    look up citations for this publication in google scholar