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Humanitarian EconomicsWar, Disaster, and the Global Aid Market$
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Gilles Carbonnier

Print publication date: 2016

Print ISBN-13: 9780190491543

Published to Oxford Scholarship Online: September 2016

DOI: 10.1093/acprof:oso/9780190491543.001.0001

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Disaster Economics

Disaster Economics

(p.127) 5 Disaster Economics
Humanitarian Economics

Gilles Carbonnier

Oxford University Press

This chapter focuses on the distribution of disaster costs and benefits over both the short and long run, and looks at the humanitarian consequences of earthquakes, floods, drought, hurricanes and other natural hazards. The chapter discusses the rise of financial instruments such as disaster-risk insurance and risk-linked securities, which transfer disaster costs onto global capital markets. It examines the political-economy constraints that prevent the scaling-up of such financial products, and questions the role of public-private partnerships in overcoming these barriers.

Keywords:   Disaster economics, Risk-linked securities, Cat-bonds, Disaster risk insurance, Disaster risk management, Public-private partnerships, Aceh, Sri Lanka

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