Natural disasters and debt financing costs

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F23%3A10253326" target="_blank" >RIV/61989100:27510/23:10253326 - isvavai.cz</a>
Alternative codes found
RIV/00216208:11230/23:10465512
Result on the web
<a href="https://www.worldscientific.com/doi/10.1142/S201000782350015X" target="_blank" >https://www.worldscientific.com/doi/10.1142/S201000782350015X</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1142/S201000782350015X" target="_blank" >10.1142/S201000782350015X</a>

Result language
angličtina
Original language name
Natural disasters and debt financing costs
Original language description
Using a comprehensive dataset of 272 large-scale natural disasters in 83 countries from 1986 to 2018, we find that disasters increase government debt financing costs (T-bill rates and 10-year government bond yields) but only in the middle-and low-income countries. This distinct response relative to high-income countries is due to lower levels of credit market depth, of private insurance penetration, and of central bank independence. The results for all natural disasters are driven by biological (epidemic) and climatological disasters-two types of hazards, the frequency and severity of which have been rising. (C) 2023 World Scientific Publishing Company.
Czech name
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Czech description
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Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
—
OECD FORD branch
50206 - Finance

Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2023
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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