Fiscal buffers for natural disasters in Pacific island countries /

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Bibliographic Details
Author / Creator:Nishizawa, Hidetaka, author.
Imprint:[Washington, D.C.] : International Monetary Fund, [2019]
©2019
Description:1 online resource (32 pages)
Language:English
Series:IMF Working Paper ; WP/19/152
IMF working paper ; WP/19/152.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/13513514
Hidden Bibliographic Details
Other authors / contributors:Roger, Scott, author.
Zhang, Huan, author.
International Monetary Fund, issuing body.
ISBN:1513508008
9781513508009
Notes:Online resource; title from PDF title page (IMF, viewed Sept. 8, 2020).
Summary:Pacific island countries (PICs) are vulnerable severe natural disasters, especially cyclones, inflicting large losses on their economies. In the aftermath of disasters, PIC governments face revenue losses and spending pressures to address post-disaster relief and recovery efforts. This paper estimates the effects of severe natural disasters on fiscal revenues and expenditure in PICs. These are combined with information on the frequency of large disasters to calculate the rate of budgetary savings needed to build appropriate fiscal buffers. Fiscal buffers provide self-insurance against natural disaster shocks and facilitate quick disbursement for recovery and relief efforts, and protection of spending on essential services and infrastructure. The estimates can provide a benchmark for policymakers, and should be adjusted to take into account other sources of financing, as well as budget risks from less severe as well as more frequent disasters.
Other form:Print version: Nishizawa, Hidetaka. Fiscal Buffers for Natural Disasters in Pacific Island Countries. Washington, D.C. : International Monetary Fund, ©2019 9781498320801

MARC

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490 1 |a IMF Working Paper ;  |v WP/19/152 
505 0 |a Vulnerability of PICs to natural disasters -- Design of fiscal buffers for natural disasters -- Estimating the fiscal cost of natural disasters -- Determining the appropriate size of fiscal buffers for natural disasters -- Policy implications. 
588 0 |a Online resource; title from PDF title page (IMF, viewed Sept. 8, 2020). 
520 3 |a Pacific island countries (PICs) are vulnerable severe natural disasters, especially cyclones, inflicting large losses on their economies. In the aftermath of disasters, PIC governments face revenue losses and spending pressures to address post-disaster relief and recovery efforts. This paper estimates the effects of severe natural disasters on fiscal revenues and expenditure in PICs. These are combined with information on the frequency of large disasters to calculate the rate of budgetary savings needed to build appropriate fiscal buffers. Fiscal buffers provide self-insurance against natural disaster shocks and facilitate quick disbursement for recovery and relief efforts, and protection of spending on essential services and infrastructure. The estimates can provide a benchmark for policymakers, and should be adjusted to take into account other sources of financing, as well as budget risks from less severe as well as more frequent disasters. 
650 0 |a Natural disasters  |x Economic aspects  |z Islands of the Pacific. 
651 0 |a Islands of the Pacific  |x Economic conditions. 
650 6 |a Catastrophes naturelles  |x Aspect économique  |z Pacifique, Îles du. 
651 6 |a Pacifique, Îles du  |x Conditions économiques. 
650 7 |a Economic history.  |2 fast  |0 (OCoLC)fst00901974 
650 7 |a Natural disasters  |x Economic aspects.  |2 fast  |0 (OCoLC)fst01033997 
651 7 |a Pacific Ocean  |z Islands of the Pacific.  |2 fast  |0 (OCoLC)fst01244201 
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700 1 |a Zhang, Huan,  |e author. 
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