We systematize recent macroeconomic empirical literature on the direct and indirect impact of natural disasters providing a meta-analysis of 20 studies published during 2002-2013. We show that the disagreement between these studies is caused by the empirical design, the estimation technique and the resilience factors included in the analyses. The meta-regression suggests that studies that analyse indirect costs have a 88% higher probability to find a positive significant disaster impact than studies of direct costs. If the impact of the disaster is modelled through a disaster indicator, the likelihood of finding a negative and significant disaster impact increases by 64%.

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Erasmus University Rotterdam
hdl.handle.net/1765/39446
ISS Working Papers - General Series
ISS Working Paper Series / General Series
International Institute of Social Studies of Erasmus University (ISS)

Lazzaroni, S, & van Bergeijk, P.A.G. (2013). Natural disasters impact, factors of resilience and development: A meta-analysis of the macroeconomic literature (No. 554). ISS Working Paper Series / General Series (Vol. 554, pp. 1–38). Erasmus University Rotterdam. Retrieved from http://hdl.handle.net/1765/39446