European Parliament Library

Fiscal Buffers for Natural Disasters in Pacific Island Countries, Hidetaka Nishizawa, Scott Roger, Huan Zhang

Abstract
Pacific island countries (PICs) are vulnerable severe natural disasters, especially cyclones, inflicting large losses on their economies. In the aftermath of disasters, PIC governments face revenue losses and spending pressures to address post-disaster relief and recovery efforts. This paper estimates the effects of severe natural disasters on fiscal revenues and expenditure in PICs. These are combined with information on the frequency of large disasters to calculate the rate of budgetary savings needed to build appropriate fiscal buffers. Fiscal buffers provide self-insurance against natural disaster shocks and facilitate quick disbursement for recovery and relief efforts, and protection of spending on essential services and infrastructure. The estimates can provide a benchmark for policymakers, and should be adjusted to take into account other sources of financing, as well as budget risks from less severe as well as more frequent disasters
Table Of Contents
Cover -- Fiscal Buffers for Natural Disasters in Pacific Island Countries -- Abstract -- I. OVERVIEW -- II. VULNERABILITY OF PICS TO NATURAL DISASTERS -- III. DESIGN OF FISCAL BUFFERS FOR NATURAL DISASTERS -- IV. ESTIMATING THE FISCAL COST OF NATURAL DISASTERS -- V. DETERMINING THE APPROPRIATE SIZE OF FISCAL BUFFERS FOR NATURAL DISASTERS -- VI. POLICY IMPLICATIONS -- Appendix: Sovereign Wealth Funds in PICs -- References
Language
eng
Literary Form
non fiction
Physical Description
1 online resource (32 pages)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781513508009

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