 ConclusionsChapter Chapter 6 in Banking Institutions and Natural Disasters, 2023, pp 139-142 from Palgrave Macmillan Abstract: Abstract Severe weather hazards pose significant challenges to the economies of many countries, and their impact will be even more significant in the future. Research on the economic consequences of natural disasters suggests that they impact short-term growth, but opinions diverge on long-term outcomes. At the same time, this literature finds that various country-specific factors matter in facilitating post-disaster recovery. While this body of research is vibrant, it has yet to deal adequately with the consequences of severe weather events on banking institutions and potential spillover effects on the real economy. Natural disasters could pose severe threats to banks depending on their area of operations, especially to small institutions in emerging countries. Governments of these countries need to work closely with international cooperation agencies, insurance companies, and the scientific community to multiply funding toward climate change adaptation projects and establish a climate risk reduction culture in their societies. Keywords: Banking and the real economy; Weather hazards; Financial sector stability; Central banks (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:psifcp:978-3-031-36371-9_6 Ordering information: This item can be ordered from DOI: 10.1007/978-3-031-36371-9_6 Access Statistics for this chapter More chapters in Palgrave Studies in Impact Finance from Palgrave Macmillan |
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