Disaster Risk Financing and Contingent Credit : A Dynamic Analysis

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dc.creatorClarke, Daniel
dc.creatorMahul, Olivier
dc.date2012-03-19T18:02:48Z
dc.date2012-03-19T18:02:48Z
dc.date2011-06-01
dc.date.accessioned2026-07-01T00:53:37Z
dc.descriptionThis paper aims to assist policy makers interested in establishing or strengthening financial strategies to increase the financial response capacity of developing country governments in the aftermath of natural disasters, while protecting their long-term fiscal balance. Contingent credit is shown to increase the ability of governments to self-insure by relaxing their short-term liquidity constraints. In many situations, contingent credit is most effectively used to facilitate risk retention for middle layers, with reserves used for bottom layers and risk transfer (for example, reinsurance) for top layers. Discussions with governments on the optimal use of contingent credit instruments as part of a sovereign catastrophe risk financing strategy can be guided by the output of a dynamic financial analysis model specifically developed to allow for the provision of contingent credit, in addition to reserves and/or reinsurance. This model is illustrated with three country case studies: agricultural production risks in India; tropical cyclone risk in Fiji; and earthquake risk in Costa Rica.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110620100433
dc.identifierhttps://hdl.handle.net/10986/3457
dc.identifier10.1596/1813-9450-5693
dc.identifier.urihttp://hdl.handle.net/123456789/412569
dc.languageEnglish
dc.relationPolicy Research working paper ; no. WPS 5693
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectAGRICULTURAL INSURANCE
dc.subjectAMOUNT OF RISK
dc.subjectATTACHMENT POINT
dc.subjectBANK POLICY
dc.subjectBASIS RISK
dc.subjectBORROWING
dc.subjectCAPITAL COST
dc.subjectCAPITAL MARKET
dc.subjectCAPITAL MARKET DEVELOPMENT
dc.subjectCASH FLOW
dc.subjectCATASTROPHES
dc.subjectCATASTROPHIC RISKS
dc.subjectCC
dc.subjectCLAIM
dc.subjectCLAIM PAYMENTS
dc.subjectCOMMITMENT LOAN
dc.subjectCONSUMPTION SMOOTHING
dc.subjectCONTINGENT DEBT
dc.subjectCOST OF CAPITAL
dc.subjectCREDIT CONTRACT
dc.subjectCREDIT FACILITY
dc.subjectCREDIT INSTRUMENTS
dc.subjectDEBT
dc.subjectDEDUCTIBLE
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING COUNTRY
dc.subjectDIRECT CREDIT
dc.subjectDIRECT LOANS
dc.subjectDISASTERS
dc.subjectDISBURSEMENT
dc.subjectDISCOUNT RATE
dc.subjectDIVERSIFICATION
dc.subjectEARTHQUAKE INSURANCE
dc.subjectECONOMICS
dc.subjectELIGIBLE BORROWERS
dc.subjectEMERGING MARKET
dc.subjectEMERGING MARKET COUNTRIES
dc.subjectEXPENDITURE
dc.subjectFARMER
dc.subjectFINANCIAL ANALYSIS
dc.subjectFINANCIAL CAPACITY
dc.subjectFINANCIAL CAPITAL
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INTERMEDIATION
dc.subjectFINANCIAL PRODUCT
dc.subjectFINANCIAL TOOL
dc.subjectFISCAL BALANCE
dc.subjectFULL REPAYMENT
dc.subjectFUTURE CASH FLOWS
dc.subjectFUTURE LOAN
dc.subjectGLOBAL CAPITAL
dc.subjectGLOBAL CAPITAL MARKET
dc.subjectGOVERNMENT EXPENDITURE
dc.subjectGOVERNMENT SUBSIDIES
dc.subjectGRACE PERIOD
dc.subjectHIGH INTEREST RATE
dc.subjectHOUSEHOLDS
dc.subjectINDEMNIFICATION
dc.subjectINSURANCE CLAIM
dc.subjectINSURANCE CLAIMS
dc.subjectINSURANCE PREMIUM
dc.subjectINTEREST COST
dc.subjectINTEREST RATE
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL FINANCIAL INSTITUTIONS
dc.subjectLENDER
dc.subjectLENDERS
dc.subjectLIABILITY
dc.subjectLINE OF CREDIT
dc.subjectLIQUID ASSETS
dc.subjectLIQUIDITY CONSTRAINT
dc.subjectLIQUIDITY CONSTRAINTS
dc.subjectLOAN
dc.subjectLOAN CAPITAL
dc.subjectLOAN FACILITY
dc.subjectLOAN REPAYMENT
dc.subjectLOAN REPAYMENTS
dc.subjectLOW INTEREST RATE
dc.subjectMARKET DEVELOPMENT
dc.subjectMATURITY
dc.subjectNATURAL DISASTER
dc.subjectNATURAL DISASTERS
dc.subjectOPERATING COSTS
dc.subjectOPPORTUNITY COST
dc.subjectOUTSTANDING DEBT
dc.subjectOUTSTANDING LOAN
dc.subjectPERPETUITY
dc.subjectPOLICYHOLDERS
dc.subjectPOLITICAL ECONOMY
dc.subjectPORTFOLIO
dc.subjectPUBLIC FINANCES
dc.subjectRATE OF RETURN
dc.subjectRATES
dc.subjectREINSURANCE
dc.subjectREINSURANCE PREMIUMS
dc.subjectREINSURERS
dc.subjectRELATIONSHIP BANKING
dc.subjectREPAYMENT
dc.subjectREPAYMENT SCHEDULE
dc.subjectRESERVE
dc.subjectRESERVE FUND
dc.subjectRESERVE FUNDS
dc.subjectRESERVES
dc.subjectRETURN
dc.subjectRETURNS
dc.subjectRISK CAPITAL
dc.subjectRISK MANAGEMENT
dc.subjectRISK NEUTRAL
dc.subjectRISK PROFILES
dc.subjectRISK TRANSFER
dc.subjectSAVINGS
dc.subjectSECURITIES
dc.subjectSHORT-TERM LIQUIDITY
dc.subjectSOVEREIGN RISK
dc.subjectSTOP LOSS REINSURANCE
dc.subjectTAX
dc.subjectTAX REVENUES
dc.titleDisaster Risk Financing and Contingent Credit : A Dynamic Analysis

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