Financial Protection of the State against Natural Disasters : A Primer

Ghesquiere, Francis; Mahul, Olivier

dc.creator	Ghesquiere, Francis
dc.creator	Mahul, Olivier
dc.date	2012-03-19T18:42:02Z
dc.date	2012-03-19T18:42:02Z
dc.date	2010-09-01
dc.date.accessioned	2023-02-17T21:05:49Z
dc.date.available	2023-02-17T21:05:49Z
dc.identifier	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100921153615
dc.identifier	http://hdl.handle.net/10986/3912
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/244882
dc.description	This paper has been prepared for policy makers interested in establishing or strengthening financial strategies to increase the financial response capacity of governments of developing countries in the aftermath of natural disasters, while protecting their long-term fiscal balances. It analyzes various aspects of emergency financing, including the types of instruments available, their relative costs and disbursement speeds, and how these can be combined to provide cost-effective financing for the different phases that follow a disaster. The paper explains why governments are usually better served by retaining most of their natural disaster risk while using risk transfer mechanisms to manage the excess volatility of their budgets or access immediate liquidity after a disaster. Finally, it discusses innovative approaches to disaster risk financing and provides examples of strategies that developing countries have implemented in recent years.
dc.language	English
dc.relation	Policy Research working paper ; no. WPS 5429
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo/
dc.rights	World Bank
dc.subject	ACCOUNTING
dc.subject	ASSET BASE
dc.subject	ATLANTIC HURRICANES
dc.subject	AUDITS
dc.subject	AUTOMOBILE INSURANCE
dc.subject	BANK POLICY
dc.subject	BANKS
dc.subject	BOND
dc.subject	BOND ISSUANCES
dc.subject	BOND ISSUE
dc.subject	BOND ISSUER
dc.subject	BOND MARKET
dc.subject	BONDS
dc.subject	BORROWING CAPACITY
dc.subject	BUILDING CODES
dc.subject	BUSINESS INTERRUPTION INSURANCE
dc.subject	CALL OPTION
dc.subject	CAPITAL EXPENDITURES
dc.subject	CAPITAL MARKET DEVELOPMENT
dc.subject	CATASTROPHE BONDS
dc.subject	CATASTROPHES
dc.subject	CATASTROPHIC EVENT
dc.subject	CAUSE OF DISASTERS
dc.subject	CLIMATE CHANGE
dc.subject	COMMODITY PRICE
dc.subject	CONTINGENT DEBT
dc.subject	CONTINGENT LIABILITIES
dc.subject	CONTINGENT LIABILITY
dc.subject	COST OF CAPITAL
dc.subject	COVERAGE
dc.subject	CRED
dc.subject	CREDIT RATING
dc.subject	CURRENCY
dc.subject	CURRENCY RISK
dc.subject	DEBT INSTRUMENTS
dc.subject	DEBT LEVELS
dc.subject	DEBT OBLIGATIONS
dc.subject	DEBT RATIOS
dc.subject	DEVELOPING COUNTRIES
dc.subject	DEVELOPING COUNTRY
dc.subject	DEVELOPMENT BANK
dc.subject	DEVELOPMENT NETWORK
dc.subject	DISASTER EMERGENCIES
dc.subject	DISASTER EVENTS
dc.subject	DISASTER INSURANCE
dc.subject	DISASTER MANAGEMENT
dc.subject	DISASTER RECOVERY
dc.subject	DISASTER REDUCTION
dc.subject	DISASTER RESPONSE
dc.subject	DISASTER RISK
dc.subject	DISASTER SIMULATION
dc.subject	DISBURSEMENT
dc.subject	DOMESTIC CREDIT
dc.subject	EARTHQUAKE
dc.subject	EARTHQUAKE INSURANCE
dc.subject	EARTHQUAKES
dc.subject	EMERGENCIES
dc.subject	EMERGENCY ASSISTANCE
dc.subject	EMERGENCY FINANCING
dc.subject	EMERGENCY RELIEF
dc.subject	EMERGENCY SERVICES
dc.subject	EMERGING ECONOMIES
dc.subject	ENVIRONMENTAL DEGRADATION
dc.subject	EXPENDITURES
dc.subject	FIDUCIARY
dc.subject	FINANCE MINISTRIES
dc.subject	FINANCES
dc.subject	FINANCIAL CRISIS
dc.subject	FINANCIAL EXPOSURE
dc.subject	FINANCIAL INSTITUTIONS
dc.subject	FINANCIAL INSTRUMENT
dc.subject	FINANCIAL INSTRUMENTS
dc.subject	FINANCIAL RISK
dc.subject	FISCAL POLICY
dc.subject	FLOOD
dc.subject	FLOODS
dc.subject	FUNGIBLE
dc.subject	GLOBAL CAPITAL
dc.subject	GLOBAL CAPITAL MARKET
dc.subject	GOVERNMENT BUDGET
dc.subject	GOVERNMENT EXPENDITURES
dc.subject	GOVERNMENT FINANCES
dc.subject	GOVERNMENT INTERVENTION
dc.subject	GOVERNMENT INVOLVEMENT
dc.subject	GOVERNMENT POLICIES
dc.subject	HOUSING
dc.subject	HURRICANE
dc.subject	HURRICANES
dc.subject	IMPACT OF DISASTER
dc.subject	IMPACT OF DISASTERS
dc.subject	INDEBTEDNESS
dc.subject	INDEMNITY
dc.subject	INSECT INFESTATIONS
dc.subject	INSTRUMENT
dc.subject	INSURANCE
dc.subject	INSURANCE COMPANIES
dc.subject	INSURANCE COMPANY
dc.subject	INSURANCE INDUSTRY
dc.subject	INSURANCE MARKET
dc.subject	INSURANCE MARKETS
dc.subject	INSURANCE PENETRATION
dc.subject	INSURANCE PRODUCT
dc.subject	INSURER
dc.subject	INSURERS
dc.subject	INTEREST RATE
dc.subject	INTEREST RATES
dc.subject	INTERNATIONAL BANK
dc.subject	INTERNATIONAL CAPITAL
dc.subject	INTERNATIONAL CAPITAL MARKETS
dc.subject	INTERNATIONAL FINANCIAL MARKETS
dc.subject	INTERNATIONAL MARKETS
dc.subject	INTERNATIONAL STANDARDS
dc.subject	ISSUANCE
dc.subject	LAWS
dc.subject	LEGAL FRAMEWORK
dc.subject	LEGISLATION
dc.subject	LIMITED BORROWING CAPACITY
dc.subject	LINE OF CREDIT
dc.subject	LINES OF CREDIT
dc.subject	LIQUIDITY
dc.subject	LOAN
dc.subject	MATURITY
dc.subject	MINISTRIES OF FINANCE
dc.subject	MORAL HAZARD
dc.subject	MORAL OBLIGATION
dc.subject	MULTILATERAL DEVELOPMENT BANKS
dc.subject	NATURAL DISASTER
dc.subject	NATURAL DISASTERS
dc.subject	NET SAVINGS
dc.subject	NEUTRALITY
dc.subject	OPPORTUNITY COST
dc.subject	PAYMENT SYSTEMS
dc.subject	POLICYHOLDERS
dc.subject	PORTFOLIO
dc.subject	PRESENT VALUE
dc.subject	PRICE RISK
dc.subject	PRINCIPAL PAYMENTS
dc.subject	PRIVATE INSURANCE
dc.subject	PRIVATE PROPERTY
dc.subject	PROGRAMS
dc.subject	PROPERTY INSURANCE
dc.subject	PUBLIC ASSETS
dc.subject	PUBLIC DEBT
dc.subject	PUBLIC FINANCE
dc.subject	PUBLIC FINANCES
dc.subject	PUBLIC INSURANCE
dc.subject	PUBLIC INVESTMENT
dc.subject	PUBLIC SERVICES
dc.subject	RECONSTRUCTION
dc.subject	RECOVERY OPERATIONS
dc.subject	REGULATORY FRAMEWORK
dc.subject	REINSURANCE
dc.subject	REINSURER
dc.subject	REINSURERS
dc.subject	RELIEF OPERATIONS
dc.subject	RESERVE
dc.subject	RESERVE FUND
dc.subject	RESERVES
dc.subject	RESOURCE MOBILIZATION
dc.subject	RETURN
dc.subject	RETURNS
dc.subject	RISK CAPITAL
dc.subject	RISK INSURANCE
dc.subject	RISK MANAGEMENT
dc.subject	RISK MITIGATION
dc.subject	RISK NEUTRAL
dc.subject	RISK PROFILE
dc.subject	RISK REDUCTION
dc.subject	RISK TRANSFER
dc.subject	SAVINGS
dc.subject	SECURITIES
dc.subject	SOVEREIGN RISK
dc.subject	STORM
dc.subject	TAX
dc.subject	TREASURY
dc.subject	TREASURY BONDS
dc.subject	TROPICAL CYCLONE
dc.subject	TSUNAMI
dc.subject	URBANIZATION
dc.subject	WEATHER DERIVATIVES
dc.title	Financial Protection of the State against Natural Disasters : A Primer
dc.type	Publications & Research :: Policy Research Working Paper
dc.coverage	The World Region
dc.coverage	The World Region