This paper examines to what extent slowdowns in economic growth after natural disasters are accompanied by widening fiscal deficits and corresponding pressures on public debt. Empirical analysis based on exogenous measures of physical disaster intensity shows that natural disasters lead not only to output losses but also to further deterioration of countries’ fiscal positions. The effects are persistent and driven by developments in emerging markets...
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INFORMATION
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2023/02/07
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Document de travail de recherche sur les politiques
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WPS10298
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1
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2023/02/07
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Disclosed
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Natural Disasters and Fiscal Drought