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
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