Impact of Behavioral Issues on Green Growth Policies and Weather-Related Disaster Reduction in Developing Countries

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dc.creatorKunreuther, Howard
dc.creatorMichel-Kerjan, Erwann
dc.date2013-01-03T22:28:40Z
dc.date2013-01-03T22:28:40Z
dc.date2012-10
dc.date.accessioned2026-07-01T00:53:46Z
dc.descriptionThis paper focuses on how developing countries can change the way they prepare for disasters so they are better equipped to sustain economic growth. It discusses the importance of considering the goals of key decision makers and the need to understand the perceptions, systematics biases, and heuristics used by the relevant interested parties (the affected public, private and public sector organizations, and nongovernmental organizations) in choosing between alternatives. The paper highlights the importance of undertaking benefit-cost analysis to evaluate disaster risk reduction measures, recognizing that decision makers might not make meaningful use of this policy tool given their behavioral biases and simplified heuristics. To address these issues, the authors propose green growth strategies that involve multi-year contracts coupled with short-term incentives that have a chance of being implemented. The strategies focus on the role of multi-year micro-insurance, long-term loans, and multi-year catastrophe bonds that reflect the institutional arrangements in the developing country. The paper illustrates this proposal in the case of farmers' agricultural practices and investment decisions that reduce losses to property from catastrophic disasters such as drought.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2012/10/16840538/impact-behavioral-issues-green-growth-policies-weather-related-disaster-reduction-developing-countries
dc.identifierhttps://hdl.handle.net/10986/12073
dc.identifierhttps://doi.org/10.1596/1813-9450-6241
dc.identifier.urihttp://hdl.handle.net/123456789/412608
dc.languageEnglish
dc.languageen_US
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research Working Paper;No. 6241
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectACCOUNTING
dc.subjectADMINISTRATIVE COSTS
dc.subjectAGRICULTURAL PRODUCTION
dc.subjectASSURANCE
dc.subjectBANKS
dc.subjectBID
dc.subjectBOND
dc.subjectBUDGET CONSTRAINTS
dc.subjectBUDGETING
dc.subjectBUSINESS INTERRUPTION INSURANCE
dc.subjectCAPITAL MARKETS
dc.subjectCATASTROPHE BONDS
dc.subjectCATASTROPHE REINSURANCE
dc.subjectCATASTROPHE RISK FINANCING
dc.subjectCATASTROPHIC LOSS
dc.subjectCATASTROPHIC LOSSES
dc.subjectCLIMATE
dc.subjectCLIMATE CHANGE
dc.subjectCLIMATE RELATED DISASTERS
dc.subjectCOMMERCIAL INSURANCE
dc.subjectCONSUMER BEHAVIOR
dc.subjectCONSUMERS
dc.subjectCOST ANALYSES
dc.subjectCOST ESTIMATES
dc.subjectCOUNTRY RISK
dc.subjectCOVERAGE
dc.subjectCREDIT RISK
dc.subjectCREDITWORTHINESS
dc.subjectCROP INSURANCE
dc.subjectDAMAGE FROM HURRICANES
dc.subjectDAMAGES
dc.subjectDEFAULT RATE
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING COUNTRY
dc.subjectDEVELOPMENT NETWORK
dc.subjectDISASTER
dc.subjectDISASTER AID
dc.subjectDISASTER MITIGATION
dc.subjectDISASTER PRONE AREA
dc.subjectDISASTER REDUCTION
dc.subjectDISASTER RELIEF
dc.subjectDISASTER RISK
dc.subjectDISASTER RISK FINANCING
dc.subjectDISASTER RISK REDUCTION
dc.subjectDISASTERS
dc.subjectDISCOUNT RATE
dc.subjectDISCOUNT RATES
dc.subjectDONOR COMMUNITY
dc.subjectDRAINAGE SYSTEMS
dc.subjectDROUGHT
dc.subjectDROUGHTS
dc.subjectEARTHQUAKE
dc.subjectECOLOGICAL ECONOMICS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC IMPACT
dc.subjectEMERGING ECONOMIES
dc.subjectEQUIPMENT
dc.subjectEVACUATION
dc.subjectEX ANTE RISK FINANCING MECHANISMS
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXTREME EVENT
dc.subjectEXTREME EVENTS
dc.subjectEXTREME RAINFALL
dc.subjectEXTREME RAINFALL EVENTS
dc.subjectFARMER
dc.subjectFARMERS
dc.subjectFEASIBILITY
dc.subjectFINANCIAL ASSISTANCE
dc.subjectFINANCIAL CONSTRAINTS
dc.subjectFINANCIAL INSTRUMENT
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL POLICY
dc.subjectFINANCIAL PRODUCTS
dc.subjectFLOOD
dc.subjectFLOOD DAMAGE
dc.subjectFLOOD INSURANCE
dc.subjectFLOODED
dc.subjectFLOODING
dc.subjectFLOODS
dc.subjectFREE ASSETS
dc.subjectGLOBAL REINSURANCE
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHEALTH CARE
dc.subjectHOLDING
dc.subjectHUMAN CAPITAL
dc.subjectHURRICANE
dc.subjectHURRICANES
dc.subjectINCOME
dc.subjectINDEMNITY
dc.subjectINSURANCE
dc.subjectINSURANCE COMPANY
dc.subjectINSURANCE CONTRACT
dc.subjectINSURANCE INDUSTRY
dc.subjectINSURANCE POLICIES
dc.subjectINSURANCE POLICY
dc.subjectINSURANCE PREMIUMS
dc.subjectINSURANCE PRODUCT
dc.subjectINSURANCE PRODUCTS
dc.subjectINSURANCE RATES
dc.subjectINSURANCE SCHEME
dc.subjectINSURANCE SCHEMES
dc.subjectINSURER
dc.subjectINSURERS
dc.subjectINTEREST RATE
dc.subjectINTERNATIONAL BANK
dc.subjectINVESTING
dc.subjectINVESTMENT DECISIONS
dc.subjectINVESTMENT STRATEGIES
dc.subjectLABOR PRODUCTIVITY
dc.subjectLAWS
dc.subjectLEGAL PROTECTIONS
dc.subjectLEVEL OF RISK
dc.subjectLIQUIDITY
dc.subjectLIQUIDITY CONSTRAINTS
dc.subjectLOAN
dc.subjectLONG-TERM LOANS
dc.subjectMATURITY
dc.subjectMICRO-FINANCE
dc.subjectMICRO-INSURANCE
dc.subjectMICROCREDIT
dc.subjectMICROINSURANCE
dc.subjectMITIGATION MEASURES
dc.subjectMONEY MARKET
dc.subjectMORAL HAZARD
dc.subjectNATURAL CATASTROPHES
dc.subjectNATURAL DISASTERS
dc.subjectNATURAL HAZARDS
dc.subjectNONGOVERNMENTAL ORGANIZATIONS
dc.subjectPAYMENT OF INTEREST
dc.subjectPENSION
dc.subjectPENSIONS
dc.subjectPOLICY ANALYSIS
dc.subjectPOLICY IMPLICATIONS
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO RISKS
dc.subjectPOTENTIAL INVESTORS
dc.subjectPRICE STABILITY
dc.subjectPROGRAMS
dc.subjectREINSURANCE
dc.subjectREINSURANCE CONTRACTS
dc.subjectREINSURERS
dc.subjectRELIEF
dc.subjectRESERVE
dc.subjectRESERVES
dc.subjectRETURN
dc.subjectRETURNS
dc.subjectRISK AVERSION
dc.subjectRISK EXPOSURE
dc.subjectRISK INSURANCE
dc.subjectRISK MANAGEMENT
dc.subjectRISK MANAGEMENT PROCESS
dc.subjectRISK TRANSFER
dc.subjectSAFETY
dc.subjectSAFETY NET
dc.subjectSECURITIES
dc.subjectSETTLEMENT
dc.subjectSMALL BUSINESSES
dc.subjectTECHNICAL ASSISTANCE
dc.subjectTEMPORARY HOUSING
dc.subjectTERRORISM
dc.subjectTERRORIST
dc.subjectTRADE UNION
dc.subjectTREASURY
dc.subjectTREATIES
dc.subjectVICTIMS
dc.subjectWAR
dc.subjectWEATHER INSURANCE
dc.titleImpact of Behavioral Issues on Green Growth Policies and Weather-Related Disaster Reduction in Developing Countries

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