CRISIS, HAZARD, AND DISASTER MANAGEMENT: A STUDY OF REGULATORY FORMULATION AND INSTITUTIONAL COORDINATION

R. Dwi Tjahja K. Wardhono (), Retno Muhardini (), Nadhia Shalehanti () and Dian Puji Nugraha Simatupang ()
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R. Dwi Tjahja K. Wardhono: Bank Indonesia, Indonesia
Retno Muhardini: Bank Indonesia, Indonesia
Nadhia Shalehanti: Bank Indonesia, Indonesia
Dian Puji Nugraha Simatupang: University of Indonesia, Indonesia

Journal of Central Banking Law and Institutions, 2023, vol. 2, issue 3, 513-542

Abstract: Management crises, hazards, and disasters should be carried out with an integrated and patterned approach through the formulation of clear regulations and efficient coordination of disaster management institutions. Both will provide effective management in responding to crises, averting hazards, and managing disasters that have the potential to occur across various countries. In developed countries where regulations are well structured, using mitigation protocols, all parties have understood their duties, functions, and responsibilities in dealing with these risks. However, in countries where unstructured regulation is unstructured, there are complexities and multiple interpretations of regulations and there are intersections of institutional authority, which creates vulnerabilities in dealing with risk. This study concludes the importance of an integrated risk mitigation system, both in terms of rules and regulatory formulation as well as coordination of institutions in one container. In addition to these factors, economic, sociological, and demographic characteristics in a country are also structural conditions that determine the optimal implementation of regulations and institutional coordination.

Keywords: Crisis; Hazard; Disaster; Coordination; Institutional (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:idn:jclijn:v:2:y:2023:i:3f:p:513-542

DOI: 10.21098/jcli.v2i3.193

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