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作者

Martino Pelli;Jeanne Tschopp;Natalia Bezmaternykh;Kodjovi M. Eklou

来源

来源 JOURNAL OF URBAN ECONOMICS,Vol.134,P.

语言

英文

关键字

Storms;India;Firms;Capital;D22;D24;O12;Q54

作者单位

Department of Economics, Université de Sherbrooke, 2500 Blvd de l’Université, Sherbrooke, Q.C., Canada;CIREQ, CIRANO, and GREDI, Canada;Department of Economics, University of Bern, Schanzeneckstrasse 1, Bern 3001, Switzerland;Department of Economics, Ryerson University, 350 Victoria Street, Toronto, ON M5B 2K3, Canada;European Department, International Monetary Fund, 1900 Pennsylvania Ave NW, Washington, DC, United States;Department of Economics, Université de Sherbrooke, 2500 Blvd de l’Université, Sherbrooke, Q.C., Canada;CIREQ, CIRANO, and GREDI, Canada;Department of Economics, University of Bern, Schanzeneckstrasse 1, Bern 3001, Switzerland;Department of Economics, Ryerson University, 350 Victoria Street, Toronto, ON M5B 2K3, Canada;European Department, International Monetary Fund, 1900 Pennsylvania Ave NW, Washington, DC, United States

摘要

The number and strength of climate-change-related disasters is increasing, and developing countries are bearing most of the brunt. In this paper we study how firms react to tropical cyclones in India. Using a panel of manufacturing firms between 1995 and 2006 and cyclone data from the National Oceanic and Atmospheric Administration, we find that the average cyclone destroys 2.2% of a firm’s fixed assets and decreases its sales by 3.1%. The impacts of the average cyclone are temporary and disappear after one year. Focusing on the heterogeneity of these results by firm and industry quality, we also find that capital and sales reallocate toward better-performing industries. Within industry, firm quality only matters for the response of sales.