Impacts of the global economic crisis and Tohoku earthquake on Sino–Japan trade: a comparative perspective

Man Li (), Tao Ye (), Peijun Shi and Jian Fang

Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, 2015, vol. 75, issue 1, 556 pages

Abstract: The increasingly globalized and networked world coupled with enlarging spatial scope and severity of natural and man-made hazards are leading to significant cross-boundary impacts. It has not been adequately addressed that how those impacts transmit from one (sub-) system/network to another and how the socioeconomic systems respond. This paper examines the impact of the global economic crisis and the Tohoku earthquake on Sino–Japan trade based on trade data released by the Japanese Ministry of Finance. Our time series analysis model shows that in the short term, the economic crisis has an impact of 66 % larger than that of the earthquake. The impact of economic crisis is more acute and deep due to the collapse of consumers’ and investors’ confidence, but for the earthquake, it is more gradual as the impact spreads via production chain and supply chain across industries and regions. The pattern implies critical difference in disaster risk reduction strategies for the two types of catastrophes. Copyright Springer Science+Business Media Dordrecht 2015

Keywords: 2008–2009 Global economic crisis; 2011 Tohoku earthquake; Sino–Japan trade; Time series model; Economic impact (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1007/s11069-014-1335-9

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