Analyzing Disaster Loss Trends: A Comparison of Normalization Methodologies in South Korea

Donghyun Choi, David Oliver Kasdan and D. K. Yoon

Risk Analysis, 2019, vol. 39, issue 4, 859-870

Abstract: Increasing concern for climate change adaptation and disaster risk reduction is driving the need for more accurate and sophisticated tools of analysis to protect populations. Standards of analysis that can normalize measurements under various contexts are particularly valuable in the global arena of disaster management. One concern that may benefit from normalizing is the analysis of disaster loss trends. Previous studies have used a combination of inflation, wealth, and societal factors in their normalization of disaster loss methodologies. This study examines the various normalization methods in previous research and applies a selection of eight formulae to 50 years of disaster data in South Korea. The results show both decreasing and increasing trends in disaster damage losses based on the methods, but there are curious biases under the results that may be artifacts of Korea's unique experiences in economic development. The conclusion discusses how the case of Korea may help to clarify the optimal normalization methodology for other countries.

Date: 2019
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https://doi.org/10.1111/risa.13208

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Persistent link: https://EconPapers.repec.org/RePEc:wly:riskan:v:39:y:2019:i:4:p:859-870

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