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    The Impact of Typhoons on Economic Activity in the Philippines: Evidence from Nightlight Intensity

    Strobl, Eric | July 2019
    Abstract
    We quantify the economic impact of typhoons in the Philippines. To this end we construct a panel data set of local economic activity derived from nightlight intensity satellite images and a cell level measure of typhoon damage constructed from storm track data, a wind field model, and a stylized damage function. Our econometric results reveal that there is a statistically and potentially economically significant, albeit short- lived, impact of typhoon destruction on local economic activity. Constructing risk profiles from a 60-year historical set of storms suggests that (near) future losses in economic activity for frequent (5-year return period) and rare (50-year return period) events are likely to range from between 1.0% and 2.5%.
    Citation
    Strobl, Eric. 2019. The Impact of Typhoons on Economic Activity in the Philippines: Evidence from Nightlight Intensity. © Asian Development Bank. http://hdl.handle.net/11540/10847. License: CC BY 3.0 IGO.
    ISSN
    2313-6537 (print)
    2313-6545 (electronic)
    Keywords
    Development Economics
    Regional Economic Development
    Economic Impact
    Asian Development Bank
    Development
    Macroeconomic
    Macroeconomic Analysis
    Macroeconomic Framework
    Macroeconomic Models
    Macroeconomic Performance
    Macroeconomic Planning
    Macroeconomic Policies
    Macroeconomic Reform
    Macroeconomic Stabilization
    Disaster preparedness
    Disaster prevention
    Disaster management
    Emergency relief
    Flood control
    Fire prevention
    Typhoons
    Natural disasters
    Man-made disasters
    Post-conflict recovery
    Fragile states
    Climate change
    Economies in transition
    Economic agreements
    Development indicators
    ADB
    Economic development
    Gross domestic product
    Employment
    Economic forecast
    Economic indicators
    Growth models
    Gross domestic product
    Macroeconomics
    Economic forecast
    Social condition
    Economic dependence
    Economic assistance
    Technology assessment
    migration
    Comparative economics
    Regional economics
    Economic development projects
    Open price system
    Price fixing
    Price regulation
    Consumer price indexes
    Financial crisis
    Labor economics
    Regional economics
    Turnover
    Economic survey
    Income Distribution
    Remittances
    Show allCollapse
    Citable URI
    http://hdl.handle.net/11540/10847
    Metadata
    Show full item record
    Thumbnail
    ewp-589-impact-typhoons-philippines.pdf (350.8Kb)
    Author
    Strobl, Eric
    Theme
    Economics
    Disaster
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise