The impact of disasters on international trade
Martin Gassebner (),
Alexander Keck and
No ERSD-2006-04, WTO Staff Working Papers from World Trade Organization (WTO), Economic Research and Statistics Division
In this paper we examine the impact of major disasters on international trade flows using a gravity model. Our panel data consists of more than 170 countries for the years 1962-2004 yielding approximately 300,000 observations. We find that the driving forces determining the impact of such events are the democracy level and, to a lesser extent, the area of the affected country. The less democratic and the smaller a country the more are its trade flows reduced in case it is struck by a disaster. We are also able to distinguish between the effect of a disaster on an importing and an exporting country.
Keywords: International trade; disasters; gravity model (search for similar items in EconPapers)
JEL-codes: F14 P52 P48 C23 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:wtowps:ersd200604
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