Browsing by Author "Bael, Shena K."

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    Natural disasters and the Phlippine economy: an evaluation of the impacts of natural disasters on the national and sectoral outputs of the Philippines
    (2009-10) Bael, Shena K.; Sy, Ma. Sheena Jane M.; Tecson, Gwendolyn
    The study on the economic impacts of natural disasters had long been disregarded particularly due to the notion that they yield negative impacts on output. With the recent disasters experienced by the Philippines, there is a need to understand the effects of natural occurrences on the Philippine economy. This paper pioneers on the evaluation of the impacts of natural disasters on Philippine economic outputs. Employing a Blundell-Bond System GMM on a panel data set from 1980 - 2008, we determine the short and long run effects of natural disasters on national and regional GDP and sectoral outputs. It was found that natural disasters have different impacts depending on their type and the measure used. The number of climatic disaster occurrences . increases output in the short run and decreases it in the long run. The reverse is true for the number of geologic disaster occurrences. Disasters whose impacts are directed to people tend to decrease output while those whose impacts are directed on physical capital generally raise output. The Philippine Agriculture, Fishery and Forestry sector is the most unresponsive to the long run effects of natural disasters. Among the three island groups, Luzon, which experiences the most number of disaster occurrences, was found to be the most vulnerable.