Natural Disasters and Human Capital Accumulation
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The author assesses empirically the
relationship between natural disaster risk and investment in
education. Although the results in the empirical literature
tend to be inconclusive, using model averaging methods in
the framework of cross-country and panel regressions, this
paper finds an extremely robust negative partial correlation
between secondary school enrollment and natural disaster
risk. This result is exclusively driven by geological
disasters. Natural disaster risk exposure is a robust
determinant of differences in secondary school enrollment
between countries, but not within countries, which implies
that the effect can be interpreted as a long-run phenomenon.
Palabras clave
ACCESS TO CREDIT, AVALANCHES, CAPITAL ACCUMULATION, CAPITAL INVESTMENT, CATASTROPHIC EVENTS, CRED, CREDIT CONSTRAINT, CREDIT CONSTRAINTS, CREDIT MARKET, DEVELOPING COUNTRIES, DEVELOPMENT BANK, DEVELOPMENT NETWORK, DISASTER, DISASTER AID, DISASTER REDUCTION, DISASTER RISK, DISASTER RISK REDUCTION, DISASTER SITUATIONS, DROUGHT, EARTHQUAKE, EARTHQUAKES, ECONOMIC AGENTS, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, EDUCATIONAL ATTAINMENT, EDUCATIONAL LEVELS, ENROLLMENT, EXPLOSIONS, FINANCIAL DEPTH, FIRE, FLOOD, FLOODS, HUMAN CAPITAL, HURRICANES, ICE STORMS, INCOME INEQUALITY, INTERNATIONAL ASSISTANCE, INTERNATIONAL BANK, INVESTMENT DECISIONS, INVESTMENT IN EDUCATION, INVESTMENTS IN EDUCATION, LANDSLIDE, LANDSLIDES, LEVEL OF EDUCATION, LEVELS OF EDUCATION, LIFE EXPECTANCY, MARKET DEVELOPMENT, MORTALITY, NATURAL CATASTROPHES, NATURAL DISASTER, NATURAL DISASTER SITUATIONS, NATURAL DISASTERS, NATURAL RESOURCE, PHYSICAL CAPITAL, POLICY RESEARCH, POLICY RESEARCH WORKING PAPER, PRIMARY SCHOOLING, PROGRESS, RECONSTRUCTION, RESPECT, RISK EXPOSURE, RISK MANAGEMENT, SECONDARY SCHOOL, SNOW STORMS, SOCIAL RESEARCH, SUSTAINABLE DEVELOPMENT, TORNADOES, TYPHOONS, VOLCANIC ERUPTIONS, VULNERABILITY, WAR, WORLD POPULATION