Economic Assessment of Damage Caused by Drought

Manuela Panaitescu (), Bogdan Andronic () and Gheorghe Chiru ()
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Manuela Panaitescu: Danubius University of Galati
Bogdan Andronic: Danubius University of Galati
Gheorghe Chiru: Danubius University of Galati

Acta Universitatis Danubius. OEconomica, 2022, issue 18(6), 196-208

Abstract: High temperatures and prolonged drought have caused farmers, households and agricultural production across Europe to face unprecedented damage in 2019-2021. Drought is a natural feature of climate variability and the water cycle and can occur in all climate areas. It results from a temporary reduction in the normal precipitation regime over an extensive area, but other climatic factors, such as high temperatures and winds or low relative humidity can significantly aggravate the severity of the event. Weather-induced losses and damage in the agricultural sector will lead to lower global agricultural production, causing food insecurity having consequences on the export of food and agricultural products.

Keywords: assessment; loss; drought; agriculture; damage (search for similar items in EconPapers)
Date: 2022
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