Increasing the Resilience of Asian Supply Chains to Natural Disasters: The Role of the Financial Sector

Willem Thorbecke

No DP-2016-08, Working Papers from Economic Research Institute for ASEAN and East Asia (ERIA)

Abstract: The financial sector is a part of the vital infrastructure of the economy. It can play an important role in mitigating the economic dislocation caused by natural disasters. Resilient financial institutions can ease anxiety and maintain confidence following a disaster. Robust insurance markets provide funds for reconstruction and are an efficient way to prepare for catastrophes. Deep and efficient bond markets allow governments to finance expenditures for emergency relief at lower cost. This paper considers steps that member countries of the Association of Southeast Asian Nations can take to develop the financial sector in these ways and thus be better prepared for the earthquakes, typhoons, tidal waves, and other catastrophes that buffet the region.

Keywords: production networks; financial services; natural disasters (search for similar items in EconPapers)
JEL-codes: F23 G22 (search for similar items in EconPapers)
Pages: 38 pages.
Date: 2016-02
New Economics Papers: this item is included in nep-sea
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Citations: View citations in EconPapers (1)

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