Choumert-Nkolo J., Lamour Anaïs, Phélinas Pascale. (2020). The economics of volcanoes.
3, 36 p. multigr. (Etudes et Documents - CERDI). ISSN 2114-7957.
Titre du document
The economics of volcanoes
Année de publication
2020
Type de document
Littérature grise
Auteurs
Choumert-Nkolo J., Lamour Anaïs, Phélinas Pascale
Source
2020,
36 p. multigr. (Etudes et Documents - CERDI). ISSN 2114-7957
Volcanic hazards pose a potential threat to 8% of the world's population, yet the economic literature on their short- and long-term consequences on household behavior and economic development is still in its infancy. In this article, we present the state of the literature and highlight knowledge gaps and methodological challenges inherent to the economic analysis of volcanic hazards and disasters. We first present the physical aspects of volcanic activity and describe available physical data. We then examine the concepts related to cost assessment of volcanic disasters. Finally, we discuss key micro and macroeconomic research questions economists should investigate and identify relevant methodological and data challenges. By highlighting research gaps in the "economics of volcanoes", we provide future avenues of research that will address policy-relevant debates in the context of greater focus on risk mitigation, adaptation, and resilience policies aimed at mitigating natural hazards and disasters.
