Macroeconomic impacts of the 2010 earthquake in Haiti

Rohan Best and Paul Burke ()

Departmental Working Papers from The Australian National University, Arndt-Corden Department of Economics

Abstract: In this paper we use the synthetic control method to estimate the macroeconomic losses from the 2010 earthquake in Haiti, one of the most severe natural disasters in the modern era. The macroeconomic effects of the earthquake were equal to an average loss of up to 12 percent of gross domestic product over the period 2010–2015. While surges in imports and foreign aid supported a temporary increase in aggregate consumption, aggregate investment and services-sector output experienced large contractions. The road transport sector was severely affected. Impacts on electricity use have been less pronounced. The data suggest that macroeconomic losses may be permanent. The earthquake is thus a case of an extreme natural disaster contributing to divergence in development outcomes.

Keywords: macroeconomic impact; Haiti; earthquake; synthetic control method (search for similar items in EconPapers)
JEL-codes: E21 E22 E23 O11 O54 (search for similar items in EconPapers)
Pages: 56 pages
Date: 2017
New Economics Papers: this item is included in nep-env and nep-mac
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Journal Article: Macroeconomic impacts of the 2010 earthquake in Haiti (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:pas:papers:2017-15

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