Financial Protection of the State against Natural Disasters : A Primer
This paper has been prepared for policy makers interested in establishing or strengthening financial strategies to increase the financial response capacity of governments of developing countries in the aftermath of natural disasters, while protecti...
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| Format: | Policy Research Working Paper |
| Language: | English |
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2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100921153615 http://hdl.handle.net/10986/3912 |
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okr-10986-3912 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACCOUNTING ASSET BASE ATLANTIC HURRICANES AUDITS AUTOMOBILE INSURANCE BANK POLICY BANKS BOND BOND ISSUANCES BOND ISSUE BOND ISSUER BOND MARKET BONDS BORROWING CAPACITY BUILDING CODES BUSINESS INTERRUPTION INSURANCE CALL OPTION CAPITAL EXPENDITURES CAPITAL MARKET DEVELOPMENT CATASTROPHE BONDS CATASTROPHES CATASTROPHIC EVENT CAUSE OF DISASTERS CLIMATE CHANGE COMMODITY PRICE CONTINGENT DEBT CONTINGENT LIABILITIES CONTINGENT LIABILITY COST OF CAPITAL COVERAGE CRED CREDIT RATING CURRENCY CURRENCY RISK DEBT INSTRUMENTS DEBT LEVELS DEBT OBLIGATIONS DEBT RATIOS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT BANK DEVELOPMENT NETWORK DISASTER EMERGENCIES DISASTER EVENTS DISASTER INSURANCE DISASTER MANAGEMENT DISASTER RECOVERY DISASTER REDUCTION DISASTER RESPONSE DISASTER RISK DISASTER SIMULATION DISBURSEMENT DOMESTIC CREDIT EARTHQUAKE EARTHQUAKE INSURANCE EARTHQUAKES EMERGENCIES EMERGENCY ASSISTANCE EMERGENCY FINANCING EMERGENCY RELIEF EMERGENCY SERVICES EMERGING ECONOMIES ENVIRONMENTAL DEGRADATION EXPENDITURES FIDUCIARY FINANCE MINISTRIES FINANCES FINANCIAL CRISIS FINANCIAL EXPOSURE FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENT FINANCIAL INSTRUMENTS FINANCIAL RISK FISCAL POLICY FLOOD FLOODS FUNGIBLE GLOBAL CAPITAL GLOBAL CAPITAL MARKET GOVERNMENT BUDGET GOVERNMENT EXPENDITURES GOVERNMENT FINANCES GOVERNMENT INTERVENTION GOVERNMENT INVOLVEMENT GOVERNMENT POLICIES HOUSING HURRICANE HURRICANES IMPACT OF DISASTER IMPACT OF DISASTERS INDEBTEDNESS INDEMNITY INSECT INFESTATIONS INSTRUMENT INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INSURANCE INDUSTRY INSURANCE MARKET INSURANCE MARKETS INSURANCE PENETRATION INSURANCE PRODUCT INSURER INSURERS INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL MARKETS INTERNATIONAL STANDARDS ISSUANCE LAWS LEGAL FRAMEWORK LEGISLATION LIMITED BORROWING CAPACITY LINE OF CREDIT LINES OF CREDIT LIQUIDITY LOAN MATURITY MINISTRIES OF FINANCE MORAL HAZARD MORAL OBLIGATION MULTILATERAL DEVELOPMENT BANKS NATURAL DISASTER NATURAL DISASTERS NET SAVINGS NEUTRALITY OPPORTUNITY COST PAYMENT SYSTEMS POLICYHOLDERS PORTFOLIO PRESENT VALUE PRICE RISK PRINCIPAL PAYMENTS PRIVATE INSURANCE PRIVATE PROPERTY PROGRAMS PROPERTY INSURANCE PUBLIC ASSETS PUBLIC DEBT PUBLIC FINANCE PUBLIC FINANCES PUBLIC INSURANCE PUBLIC INVESTMENT PUBLIC SERVICES RECONSTRUCTION RECOVERY OPERATIONS REGULATORY FRAMEWORK REINSURANCE REINSURER REINSURERS RELIEF OPERATIONS RESERVE RESERVE FUND RESERVES RESOURCE MOBILIZATION RETURN RETURNS RISK CAPITAL RISK INSURANCE RISK MANAGEMENT RISK MITIGATION RISK NEUTRAL RISK PROFILE RISK REDUCTION RISK TRANSFER SAVINGS SECURITIES SOVEREIGN RISK STORM TAX TREASURY TREASURY BONDS TROPICAL CYCLONE TSUNAMI URBANIZATION WEATHER DERIVATIVES |
| spellingShingle |
ACCOUNTING ASSET BASE ATLANTIC HURRICANES AUDITS AUTOMOBILE INSURANCE BANK POLICY BANKS BOND BOND ISSUANCES BOND ISSUE BOND ISSUER BOND MARKET BONDS BORROWING CAPACITY BUILDING CODES BUSINESS INTERRUPTION INSURANCE CALL OPTION CAPITAL EXPENDITURES CAPITAL MARKET DEVELOPMENT CATASTROPHE BONDS CATASTROPHES CATASTROPHIC EVENT CAUSE OF DISASTERS CLIMATE CHANGE COMMODITY PRICE CONTINGENT DEBT CONTINGENT LIABILITIES CONTINGENT LIABILITY COST OF CAPITAL COVERAGE CRED CREDIT RATING CURRENCY CURRENCY RISK DEBT INSTRUMENTS DEBT LEVELS DEBT OBLIGATIONS DEBT RATIOS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT BANK DEVELOPMENT NETWORK DISASTER EMERGENCIES DISASTER EVENTS DISASTER INSURANCE DISASTER MANAGEMENT DISASTER RECOVERY DISASTER REDUCTION DISASTER RESPONSE DISASTER RISK DISASTER SIMULATION DISBURSEMENT DOMESTIC CREDIT EARTHQUAKE EARTHQUAKE INSURANCE EARTHQUAKES EMERGENCIES EMERGENCY ASSISTANCE EMERGENCY FINANCING EMERGENCY RELIEF EMERGENCY SERVICES EMERGING ECONOMIES ENVIRONMENTAL DEGRADATION EXPENDITURES FIDUCIARY FINANCE MINISTRIES FINANCES FINANCIAL CRISIS FINANCIAL EXPOSURE FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENT FINANCIAL INSTRUMENTS FINANCIAL RISK FISCAL POLICY FLOOD FLOODS FUNGIBLE GLOBAL CAPITAL GLOBAL CAPITAL MARKET GOVERNMENT BUDGET GOVERNMENT EXPENDITURES GOVERNMENT FINANCES GOVERNMENT INTERVENTION GOVERNMENT INVOLVEMENT GOVERNMENT POLICIES HOUSING HURRICANE HURRICANES IMPACT OF DISASTER IMPACT OF DISASTERS INDEBTEDNESS INDEMNITY INSECT INFESTATIONS INSTRUMENT INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INSURANCE INDUSTRY INSURANCE MARKET INSURANCE MARKETS INSURANCE PENETRATION INSURANCE PRODUCT INSURER INSURERS INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL MARKETS INTERNATIONAL STANDARDS ISSUANCE LAWS LEGAL FRAMEWORK LEGISLATION LIMITED BORROWING CAPACITY LINE OF CREDIT LINES OF CREDIT LIQUIDITY LOAN MATURITY MINISTRIES OF FINANCE MORAL HAZARD MORAL OBLIGATION MULTILATERAL DEVELOPMENT BANKS NATURAL DISASTER NATURAL DISASTERS NET SAVINGS NEUTRALITY OPPORTUNITY COST PAYMENT SYSTEMS POLICYHOLDERS PORTFOLIO PRESENT VALUE PRICE RISK PRINCIPAL PAYMENTS PRIVATE INSURANCE PRIVATE PROPERTY PROGRAMS PROPERTY INSURANCE PUBLIC ASSETS PUBLIC DEBT PUBLIC FINANCE PUBLIC FINANCES PUBLIC INSURANCE PUBLIC INVESTMENT PUBLIC SERVICES RECONSTRUCTION RECOVERY OPERATIONS REGULATORY FRAMEWORK REINSURANCE REINSURER REINSURERS RELIEF OPERATIONS RESERVE RESERVE FUND RESERVES RESOURCE MOBILIZATION RETURN RETURNS RISK CAPITAL RISK INSURANCE RISK MANAGEMENT RISK MITIGATION RISK NEUTRAL RISK PROFILE RISK REDUCTION RISK TRANSFER SAVINGS SECURITIES SOVEREIGN RISK STORM TAX TREASURY TREASURY BONDS TROPICAL CYCLONE TSUNAMI URBANIZATION WEATHER DERIVATIVES Ghesquiere, Francis Mahul, Olivier Financial Protection of the State against Natural Disasters : A Primer |
| geographic_facet |
The World Region The World Region |
| relation |
Policy Research working paper ; no. WPS 5429 |
| description |
This paper has been prepared for policy
makers interested in establishing or strengthening financial
strategies to increase the financial response capacity of
governments of developing countries in the aftermath of
natural disasters, while protecting their long-term fiscal
balances. It analyzes various aspects of emergency
financing, including the types of instruments available,
their relative costs and disbursement speeds, and how these
can be combined to provide cost-effective financing for the
different phases that follow a disaster. The paper explains
why governments are usually better served by retaining most
of their natural disaster risk while using risk transfer
mechanisms to manage the excess volatility of their budgets
or access immediate liquidity after a disaster. Finally, it
discusses innovative approaches to disaster risk financing
and provides examples of strategies that developing
countries have implemented in recent years. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Ghesquiere, Francis Mahul, Olivier |
| author_facet |
Ghesquiere, Francis Mahul, Olivier |
| author_sort |
Ghesquiere, Francis |
| title |
Financial Protection of the State against Natural Disasters : A Primer |
| title_short |
Financial Protection of the State against Natural Disasters : A Primer |
| title_full |
Financial Protection of the State against Natural Disasters : A Primer |
| title_fullStr |
Financial Protection of the State against Natural Disasters : A Primer |
| title_full_unstemmed |
Financial Protection of the State against Natural Disasters : A Primer |
| title_sort |
financial protection of the state against natural disasters : a primer |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100921153615 http://hdl.handle.net/10986/3912 |
| _version_ |
1764388985834045440 |
| spelling |
okr-10986-39122021-04-23T14:02:13Z Financial Protection of the State against Natural Disasters : A Primer Ghesquiere, Francis Mahul, Olivier ACCOUNTING ASSET BASE ATLANTIC HURRICANES AUDITS AUTOMOBILE INSURANCE BANK POLICY BANKS BOND BOND ISSUANCES BOND ISSUE BOND ISSUER BOND MARKET BONDS BORROWING CAPACITY BUILDING CODES BUSINESS INTERRUPTION INSURANCE CALL OPTION CAPITAL EXPENDITURES CAPITAL MARKET DEVELOPMENT CATASTROPHE BONDS CATASTROPHES CATASTROPHIC EVENT CAUSE OF DISASTERS CLIMATE CHANGE COMMODITY PRICE CONTINGENT DEBT CONTINGENT LIABILITIES CONTINGENT LIABILITY COST OF CAPITAL COVERAGE CRED CREDIT RATING CURRENCY CURRENCY RISK DEBT INSTRUMENTS DEBT LEVELS DEBT OBLIGATIONS DEBT RATIOS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT BANK DEVELOPMENT NETWORK DISASTER EMERGENCIES DISASTER EVENTS DISASTER INSURANCE DISASTER MANAGEMENT DISASTER RECOVERY DISASTER REDUCTION DISASTER RESPONSE DISASTER RISK DISASTER SIMULATION DISBURSEMENT DOMESTIC CREDIT EARTHQUAKE EARTHQUAKE INSURANCE EARTHQUAKES EMERGENCIES EMERGENCY ASSISTANCE EMERGENCY FINANCING EMERGENCY RELIEF EMERGENCY SERVICES EMERGING ECONOMIES ENVIRONMENTAL DEGRADATION EXPENDITURES FIDUCIARY FINANCE MINISTRIES FINANCES FINANCIAL CRISIS FINANCIAL EXPOSURE FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENT FINANCIAL INSTRUMENTS FINANCIAL RISK FISCAL POLICY FLOOD FLOODS FUNGIBLE GLOBAL CAPITAL GLOBAL CAPITAL MARKET GOVERNMENT BUDGET GOVERNMENT EXPENDITURES GOVERNMENT FINANCES GOVERNMENT INTERVENTION GOVERNMENT INVOLVEMENT GOVERNMENT POLICIES HOUSING HURRICANE HURRICANES IMPACT OF DISASTER IMPACT OF DISASTERS INDEBTEDNESS INDEMNITY INSECT INFESTATIONS INSTRUMENT INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INSURANCE INDUSTRY INSURANCE MARKET INSURANCE MARKETS INSURANCE PENETRATION INSURANCE PRODUCT INSURER INSURERS INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL MARKETS INTERNATIONAL STANDARDS ISSUANCE LAWS LEGAL FRAMEWORK LEGISLATION LIMITED BORROWING CAPACITY LINE OF CREDIT LINES OF CREDIT LIQUIDITY LOAN MATURITY MINISTRIES OF FINANCE MORAL HAZARD MORAL OBLIGATION MULTILATERAL DEVELOPMENT BANKS NATURAL DISASTER NATURAL DISASTERS NET SAVINGS NEUTRALITY OPPORTUNITY COST PAYMENT SYSTEMS POLICYHOLDERS PORTFOLIO PRESENT VALUE PRICE RISK PRINCIPAL PAYMENTS PRIVATE INSURANCE PRIVATE PROPERTY PROGRAMS PROPERTY INSURANCE PUBLIC ASSETS PUBLIC DEBT PUBLIC FINANCE PUBLIC FINANCES PUBLIC INSURANCE PUBLIC INVESTMENT PUBLIC SERVICES RECONSTRUCTION RECOVERY OPERATIONS REGULATORY FRAMEWORK REINSURANCE REINSURER REINSURERS RELIEF OPERATIONS RESERVE RESERVE FUND RESERVES RESOURCE MOBILIZATION RETURN RETURNS RISK CAPITAL RISK INSURANCE RISK MANAGEMENT RISK MITIGATION RISK NEUTRAL RISK PROFILE RISK REDUCTION RISK TRANSFER SAVINGS SECURITIES SOVEREIGN RISK STORM TAX TREASURY TREASURY BONDS TROPICAL CYCLONE TSUNAMI URBANIZATION WEATHER DERIVATIVES This paper has been prepared for policy makers interested in establishing or strengthening financial strategies to increase the financial response capacity of governments of developing countries in the aftermath of natural disasters, while protecting their long-term fiscal balances. It analyzes various aspects of emergency financing, including the types of instruments available, their relative costs and disbursement speeds, and how these can be combined to provide cost-effective financing for the different phases that follow a disaster. The paper explains why governments are usually better served by retaining most of their natural disaster risk while using risk transfer mechanisms to manage the excess volatility of their budgets or access immediate liquidity after a disaster. Finally, it discusses innovative approaches to disaster risk financing and provides examples of strategies that developing countries have implemented in recent years. 2012-03-19T18:42:02Z 2012-03-19T18:42:02Z 2010-09-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100921153615 http://hdl.handle.net/10986/3912 English Policy Research working paper ; no. WPS 5429 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Publications & Research :: Policy Research Working Paper The World Region The World Region |