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Unraveling the effects of tropical cyclones on economic sectors worldwide

Kunze, Sven

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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 meteorological data, which is included in a panel analysis for a maximum of 213 countries over the 1971-2015 period. I find a significantly negative influence of tropical cyclones 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 processes are sticky and indirect economic costs are low.

Document type: Working paper
Series Name: Discussion Paper Series / University of Heidelberg, Department of Economics
Volume: 0653
Place of Publication: Heidelberg
Edition: 1. Überarbeitung
Date Deposited: 27 Aug 2018 07:38
Date: 9 August 2018
Faculties / Institutes: The Faculty of Economics and Social Studies > Alfred-Weber-Institut for Economics
DDC-classification: 330 Economics
Controlled Keywords: tropical cyclones, sectoral economic growth, environment and growth, natural disasters, input-output analysis
Schriftenreihe ID: Discussion Paper Series / University of Heidelberg, Department of Economics

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