Critical Issues
Background:
As well as destroying lives and property, natural disasters cause economic impact that can affect vital global industries (see: Katrina’s affects on the energy sector) and force significant changes in GDP, industrial output and development assumptions. During the past decade, natural disasters have crippled or staggered countries without regard to economic status, although suffering is frequently exacerbated in poorer countries due to lack of suitable infrastructure and response capability. A short list of such calamities would include earthquakes that rocked Turkey (1999), Iran (2003), Pakistani-administered Kashmir (2005) and central China (2008); the monsoon that devastated parts of Myanmar in 2008; landslides and floods that regularly ravage areas of Latin America and South Asia; and the 2004 tsunami in the Indian Ocean demonstrated the potentially global affects inherent in such disasters.
The 2010 earthquake in Haiti (a country still recovering from the effects of two cyclones which hit it in 2008) killed or made homeless hundreds of thousands of people. This has lead to huge donations of monetary aid and practical assistance from international bodies such as the UN, the IMF and the World Food program, as well as from more developed nations. In recent years, rescue and relief, involving a complex web of NGOs, private charities, international organizations, government and military resources, has grown into an industry of its own. Climate scientists suggest the incidence of such events may be on the rise.
Access to this content is restricted to RGE clients.
If you have a client code, please enter it here to activate your client account.
Click here for a free trial.
Learn About Our Services:
Our dynamic and intuitive research platform keeps you on top of the extraordinary shifts that transform our global economy, allowing users to uncover unique connections and insights. Discover the resource central banks and that 70% of the world's leading hedge funds, asset managers, PE firms, banks and corporations around the world depend on.
RGE market strategists build on the work of our macroeconomic research team, incorporating market dynamics to answer crucial questions and generate actionable investment recommendations. RGE's Market Research and Strategy team gives clients actionable insight across six key asset classes:
• Currencies • Commodities
• Credit • Equity • Gov’t Bonds / Rates
• Emerging Markets • Financials
• Cross Asset Model Portfolio
Sometimes, reading research is not enough. Many RGE clients participate at the Roubini Direct Access level to gain a deeper understanding of specific issues. Through interactive live sessions, we engage with world-class thinkers, encourage knowledge sharing, idea generation, risk identification and validation of client initiatives.
Learn More »
Associated Readings
Analysis
WSJ
José De Córdoba
Feb 18, 2010
Dominican Ties With Haiti Improve
Opinions
Financial Times
Philip Ellis
Jan 24, 2010
Disasters Are Not Rare, So Prepare
Opinions
cfr.org
Max Boot
Jan 18, 2010
Commentary: America’s Uncertain Presence in Haiti’s Uncertain Future
Research
Wolfensohn Centre for Development at Brookings
Harry Masyrafah
Nov, 2008
Post-Tsunami Aid Effectiveness in Aceh
Opinions
The Washington Post
Jeffrey D. Sachs
Jan 17, 2010
After the Earthquake, How to Rebuild Haiti from Scratch
Opinions
Washington Post
John Morrison and Alex Sink
Sep 27, 2007
The Climate Change Peril That Insurers See
Analysis
American Economic Association
Marcellus Andrews
Jan 04, 2008
Risk, Inequality and the Economics of Disaster
Opinions
Lawrence Berkeley National Laboratory
Evan Mills
Jan 02, 2008
Responding to climate change –The Insurance Industry Perspective