NATURAL DISASTERS AS CREATIVE DESTRUCTION? EVIDENCE FROM DEVELOPING COUNTRIES Export

@article{citeulike:2672309, abstract = {Recent studies found a robust positive correlation between the frequency of natural disasters and the long-run economic growth after conditioning for other determinants. This result is interpreted as evidence that disasters provide opportunities to update the capital stock and adopt new technologies, thus acting as some type of Schumpeterian creative destruction. The results of cross-country and panel data regressions indicate that the degree of catastrophic risk tends to have a negative effect on the volume of knowledge spillovers between industrialized and developing countries. Only countries with relatively high levels of development benefit from capital upgrading through trade after a natural catastrophe. (JEL O13, O30, F18)}, author = {Cuaresma, Jesus C. and Hlouskova, Jaroslava and Obersteiner, Michael}, citeulike-article-id = {2672309}, citeulike-linkout-0 = {http://www.blackwell-synergy.com/doi/abs/10.1111/j.1465-7295.2007.00063.x}, citeulike-linkout-1 = {http://dx.doi.org/10.1111/j.1465-7295.2007.00063.x}, doi = {10.1111/j.1465-7295.2007.00063.x}, journal = {Economic Inquiry}, number = {2}, pages = {214--226}, posted-at = {2008-04-15 10:29:22}, priority = {2}, title = {NATURAL DISASTERS AS CREATIVE DESTRUCTION? EVIDENCE FROM DEVELOPING COUNTRIES}, url = {http://dx.doi.org/10.1111/j.1465-7295.2007.00063.x}, volume = {46}, year = {2008} }

TY - JOUR ID - citeulike:2672309 L3 - citeulike-article-id:2672309 N2 - Recent studies found a robust positive correlation between the frequency of natural disasters and the long-run economic growth after conditioning for other determinants. This result is interpreted as evidence that disasters provide opportunities to update the capital stock and adopt new technologies, thus acting as some type of Schumpeterian creative destruction. The results of cross-country and panel data regressions indicate that the degree of catastrophic risk tends to have a negative effect on the volume of knowledge spillovers between industrialized and developing countries. Only countries with relatively high levels of development benefit from capital upgrading through trade after a natural catastrophe. (JEL O13, O30, F18) IS - 2 JF - Economic Inquiry EP - 226 TI - NATURAL DISASTERS AS CREATIVE DESTRUCTION? EVIDENCE FROM DEVELOPING COUNTRIES VL - 46 SP - 214 AU - Cuaresma, Jesus AU - Hlouskova, Jaroslava AU - Obersteiner, Michael PY - 2008/// UR - http://dx.doi.org/10.1111/j.1465-7295.2007.00063.x ER -