Economic recovery following earthquake disasters

Economic recovery following earthquake disasters

Erica Seville, John Vargo, Ilan Noy

Encyclopaedia of Earthquake Engineering, 2014, Springer

Introduction

Earthquakes can affect economies and economic activity in a number of ways. Directly, an earthquake can damage assets and infrastructure critical for the production and delivery of goods and services. Earthquakes can also directly affect human capital, impacting the availability and productivity of the workforce.  These however are not the only ways in which earthquakes impact an economy; indirect (or secondary) effects of the disaster can magnify the disruption caused by direct damage.  Here, we describe the ways in which earthquake disasters can impact an economy, starting with macroeconomic impacts (how the local economy as a whole is affected) and then focusing in on microeconomic impacts (by looking at how different actors within an economy can be affected).  We conclude by looking at ways in which economic recovery can be supported following a major disaster.

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