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Does National Flood Insurance Program Participation Induce Housing Development?

Mark J. Browne, Carolyn A. Dehring, David L. Eckles and William Lastrapes ()

Journal of Risk & Insurance, 2019, vol. 86, issue 4, 835-859

Abstract: We estimate the effects on county‐wide housing development in Florida of community‐level participation in the National Flood Insurance Program using panel data methods and observed variation in the timing of the decision to join the program. We find that program participation “increased” housing starts and permits in noncoastal counties, while coastal counties with average flood zone acreage saw significant “declines” in housing activity. We conjecture that loss‐mitigating regulatory costs, an obligation of obtaining insurance, might explain these findings.

Date: 2019
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Journal of Risk & Insurance is currently edited by Joan T. Schmit

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Handle: RePEc:bla:jrinsu:v:86:y:2019:i:4:p:835-859