This paper provides a theoretical framework to understand the tendency of non governmental organisations (NGOs) to cluster and the circumstances under which such clustering is socially undesirable. NGOs compete through fundraising for donations and choose issues to focus their projects on....

In recent decades, the world has faced an increasing number of natural and man-made disasters. Such disasters include tsunamis, earthquakes, the current ongoing financial crisis, terrorism, riots, and wars. These disasters generate tremendous social and economic costs, especially for the poor in...

This paper uses a dynamic optimization model to estimate the welfare gains that a small open economy can derive from insuring against natural disasters with catastrophe (CAT) bonds. We calibrate the model by reference to the risk of earthquakes, floods and storms in developing countries. We find...