Unraveling the effects of tropical cyclones on economic sectors worldwide

• Verfasst von: Kunze, Sven [VerfasserIn]
• Titel: Unraveling the effects of tropical cyclones on economic sectors worldwide
• Verf.angabe: Sven Kunze
• Verlagsort: Heidelberg
• Verlag: Universitätsbibliothek Heidelberg, Department of Economics
• E-Jahr: 2017
• Jahr: November 2017
• Umfang: 1 Online-Ressource (62 Seiten)
• Gesamttitel/Reihe: Discussion paper series / University of Heidelberg, Department of Economics ; no. 641
• DOI: doi:10.11588/heidok.00023757
• URN: urn:nbn:de:bsz:16-heidok-237578
• Datenträger: Online-Ressource
• Sprache: eng
• Sach-SW: Tropical Cyclones
• Sach-SW: Sectoral Economic Growth
• Sach-SW: Environment and Growth
• Sach-SW: Natural Disasters
• Sach-SW: Input-Output Analysis
• Form-SW: Graue Literatur
• K10plus-PPN: 1011730243
• K10plus-PPN:
  Universitätsbibliothek
• Lokale URL UB: Zum Volltext

Abstract

Schlagwörter: Tropical cyclones; sectoral economic growth; environment and growth; natural disasters; input-output analysis

Abstract

This paper unravels the contemporaneous, lagged, and indirect effects of tropical cyclones on annual sectoral growth worldwide. The main explanatory variable is an area-weighted measure for local tropical cyclone intensity based on meteoro-logical data, which is included in a panel analysis for a maximum of 213 countries over the 1971-2015 period. I find that the significantly negative influence of tropi-cal cyclones on aggregate GDP growth can be attributed to contemporaneous neg-ative effects on three sector aggregates including agriculture, infrastructure, as well as trade and tourism. In subsequent years, tropical cyclones negatively affect nearly all sectors. However, the Input-Output analysis shows that production pro-cesses are sticky and indirect economic costs of tropical cyclones are low.