Economic Implications of Disasters on Cooperative Sector in CALABARZON, Philippines

Ceptryl S. Mina and Liezel S. Cruz

Journal of Economics, Management & Agricultural Development, 2021, vol. 7, issue 01

Abstract: Cooperatives serve as an important tool for improving the living conditions of members and their community. However, like any other business enterprise, cooperatives are also exposed to disasters that may affect their operations. This study analyzed the economic effects of disasters on cooperatives in CALABARZON, Philippines. Results of the Pearson’s chi-square test showed that cooperatives are exposed to various types of natural, biological, and human induced disasters. It was found out that disasters lead to increased operational costs and reduced net surplus. Using emergency-use-only cell phones and generators, changing production patterns, limiting high risk-customers, buying insurance, and establishing online and offline data backup systems were all found to mitigate the effects of disasters significantly. This study underscores that having business continuity plan (BCP) helps ensure continuous business operations following disaster events. This study recommends developing strategies that would equip cooperatives with necessary technical knowledge and skills in crafting and implementing BCP.

Keywords: Agribusiness; Community/Rural/Urban Development; Production Economics (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:ags:pjemad:323953

DOI: 10.22004/ag.econ.323953

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