The aim of this study is to describe the macroeconomic dynamics of natural disasters and their determinants in a large sample of disaster events, the first such attempt we are aware of. Our research shows that natural disasters have a statistically observable adverse impact on the macroeconomy...

We examine the impact of capital account policies on FDI inflows. Using an annual panel dataset of 83 developing and developed countries for 1984-2000, we find that capital account openness is positively but only very moderately associated with the amount of FDI inflows after controlling for...

The paper investigates the impact of foreign direct investment (FDI) on economic growth using detailed sectoral data for FDI inflows to Indonesia over the period 1997-2006. In the aggregate level, FDI is observed to have a positive effect on economic growth. However, when accounting for the...

This paper studies the endogenous determination of financial and trade openness. We outline a framework where financial openness is endogenously determined by the authority’s choice of financial repression as a taxation device, and where the private sector determines endogenously the magnitude...

Empirical studies on FDI and growth in developed countries have yielded conflicting results using cross-country regressions. We use sectoral data for a group of six country members of the Organization for Economic Cooperation and Development. Our paper is the first to identify the...

We examine Official Development Assistance (ODA) in the aftermath of large natural disasters in developing countries between 1970 and 2008. We find that while ODA increases significantly compared to pre-disaster flows, the typical surges are small in relation to the size of the affected...

We survey the history of natural disasters in the Pacific Rim, and the region's vulnerabilities. We also discuss the extent of our knowledge about the short- and long-term economic impacts of these disasters, and prevention, mitigation and post-disaster policies that may be implemented.

Controls on capital inflows have been experiencing a period akin to a renaissance since the beginning of the global financial crisis in 2008, with several prominent countries choosing to impose controls; e.g., Thailand, Korea, Peru, Indonesia, and Brazil. We focus on the case of Brazil, a...

Research on the economic and human toll of natural disasters focuses on the short-term, often ignoring the important long-term impacts of these catastrophic events. The main reason for the lack of empirical research on the long-term is the inherent and unavoidable difficulty in identifying any...

In spite of a long history of coastal disasters worldwide and detailed studies of their short-term impacts, there is still little information about the longer-term economic and socio-economic consequences of these events. The long-term impacts of natural disasters are “hidden” since...