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date: 25 January 2020

Abstract and Keywords

This chapter examines the economics of natural disasters in the context of the Pacific Rim. It summarizes the recent experience of the region with natural disasters and analyzes evidence on the possible impacts of climate change. It discusses the concept of the so-called “creative destruction” and the role of the financial markets, such as providing insurance for disasters and financial instruments for rebuilding. This chapter also considers the issue of out-migration after disasters and spillover effects of natural disasters

Keywords: natural disasters, economics, Pacific Rim, climate change, creative destruction, financial markets, insurance, financial instruments, out-migration, spillover effects

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