Arbeitspapier
Floods and firms: Vulnerabilities and resilience to natural disasters in Europe
Combining a rich database on natural hazards, granular flood risk maps and detailed information on firm geolocalisation, we study the dynamic impacts of floods on European manufacturing firms during the period 2007-2018. We find that water damages significantly and persistently worsen firm performance, and may endanger their survival. An average flood deteriorates total assets by about 2% in the year after the event, and up to 5% seven years out. The drop in sales and employment is comparable. We show how reallocation of economic activity within flooded regions can reconcile our results with the 'creative destruction' hypothesis proposed by the natural disaster literature.
- Language
-
Englisch
- Bibliographic citation
-
Series: JRC Working Papers in Economics and Finance ; No. 2022/13
- Classification
-
Wirtschaft
Firm Behavior: Empirical Analysis
Climate; Natural Disasters and Their Management; Global Warming
Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
- Subject
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natural disasters
floods
climate risk
firm performance
panel local projections
- Event
-
Geistige Schöpfung
- (who)
-
Fatica, Serena
Kátay, Gábor
Rancan, Michela
- Event
-
Veröffentlichung
- (who)
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European Commission
- (where)
-
Ispra
- (when)
-
2022
- Handle
- Last update
- 10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Fatica, Serena
- Kátay, Gábor
- Rancan, Michela
- European Commission
Time of origin
- 2022
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