| Description |
1 online resource (47 pages) : color illustrations |
| Series |
IMF working paper ; WP/14/125 |
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IMF working paper ; WP/14/125.
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| Contents |
Cover -- Contents -- I. Introduction -- II. Literature Review -- III. Data Description -- IV. The Econometric Model -- A. The Fixed Effects and Bootstrap Bias-corrected Estimators -- B. Diagnostic Tests -- V. Results -- A. The benchmark model -- B. The role of debt relief and ODA -- 1. The model with ODA -- 2. The model with debt relief -- C. Storms in the Eastern Caribbean Currency Union -- 1. The role of debt relief -- D. Robustness -- VI. Conclusions -- References -- Appendix -- A. Additional Figures -- Tables -- 1. Variables and Sources |
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2. Disasters and Debt Relief by Country3. Descriptive Statistics -- 4. Descriptive Statistics for the ECCU Countries -- 5. VAR Stability Condition -- 6. Unit Root Tests -- 7. Lag Structure Selection -- 8. Granger Causality Test of ODA and Debt Relief Dummy to the Endogenous Variables -- 9. Granger Causality Test of the Debt Relief Dummy to the Exogenous Shocks -- Figures -- 1. Mean Responses of GDP and Debt to Moderate Disasters -- 2. Mean Responses of GDP and Debt to Severe Disasters |
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3. Mean Responses of GDP and Debt to Moderate Disasters Including ODA as an Exogenous Variable4. Mean Responses of GDP and Debt to Severe Disasters Including ODA as an Exogenous Variable -- 5. Mean Responses of GDP and Debt to Moderate Disasters Including the Debt Relief Dummy as an Exogenous Variable -- 6. Mean Responses of GDP and Debt to Severe Disasters Including the Debt Relief Dummy as an Exogenous Variable -- 7. Mean Responses of GDP and Debt to Moderate Disasters (ECCU) -- 8. Mean Responses of GDP and Debt to Severe Disasters (ECCU) |
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9. Mean Responses of GDP and Debt to Moderate Disasters Including the Debt Relief Dummy as an Exogenous Variable (ECCU)10. Mean Responses of GDP and Debt to Severe Disasters Including the Debt Relief Dummy as an Exogenous Variable (ECCU) -- A1. Mean Responses of GDP to Moderate Disasters -- A2. Mean Responses of GDP to Severe Disasters -- A3. Mean Responses of GDP and Debt to Moderate Disasters (Using Total Affected as an Alternative Measure of Intensity) |
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A4. Mean Responses of GDP and Debt to Moderate Disasters Including the Debt Relief Dummy as an Exogenous Variable (Using Total Affected as an Alternative Measure of Intensity)A5. Mean Responses of GDP and Debt to Moderate Disasters (Using Damages as an Alternative Measure of Intensity) -- A6. Mean Responses of GDP and Debt to Moderate Disasters Including the Debt Relief Dummy as an Exogenous Variable (Using Damages as an Alternative Measure of Intensity) |
| Summary |
"This paper seeks to determine the effects that natural disasters have on per capita GDP and on the debt to GDP ratio in the Caribbean. Two types of natural disasters are studied -storms and floods- given their prevalence in the region, while considering the effects of both moderate and severe disasters. I use a vector autoregressive model with exogenous natural disasters shocks, in a panel of 12 Caribbean countries over a period of 40 years. The results show that both storms and floods have a negative effect on growth, and that debt increases with floods but not with storms. However, in a subsample I find that storms significantly increase debt in the short and long run. I also find weak evidence that debt relief contributes to ease the negative effects of storms on debt"--Abstract |
| Notes |
"Western Hemisphere Department"--Page 2 of pdf |
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"July 2014"--Page 2 of pdf |
| Bibliography |
Includes bibliographical references |
| Notes |
Online resource; title from pdf title page (IMF.org Web site, viewed (July 21, 2014) |
| Subject |
Debt -- Caribbean Area
|
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Economic development -- Caribbean Area
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Natural disasters -- Caribbean Area
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Debt
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Economic development
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Natural disasters
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Caribbean Area
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| Form |
Electronic book
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| Author |
International Monetary Fund. Western Hemisphere Department, issuing body.
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| ISBN |
9781498315487 |
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1498315488 |
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1498337600 |
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9781498337601 |
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