Vanuatu and cyclone Pam: an update on economic, fiscal and development impacts

Dornan, Matthew, and Newton Cain, Theresa (2015) Vanuatu and cyclone Pam: an update on economic, fiscal and development impacts. Report. Asian Development Bank.

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Abstract

[Extract] During March 2015, Tropical Cyclone Pam charted a course of destruction through the southwest Pacific. The effects of the storm were felt in Kiribati, Solomon Islands, and Tuvalu. But the greatest impact was in Vanuatu, many of whose islands were battered by the Category 5 system. It is still too early to know the full economic, fiscal, and developmental impacts of Cyclone Pam on Vanuatu. As data come to hand, they will add to existing literature on the economic impacts of disasters. Cross-country econometric studies have produced mixed and often contradictory findings when examining the impacts of disasters. This is not unexpected given that disasters come in many forms and affect both economic sectors (e.g., agriculture and services) and geographic areas differently. Cyclone Pam was unique given the breadth of its impact, but even in this case, some islands in Vanuatu such as Santo were not severely affected. In this article, we provide an update on estimated fiscal, economic, and development impacts of the cyclone on Vanuatu. We commence by establishing projections for the Vanuatu economy before the onset of the storm and move on to an examination of the immediate and short-term impacts. We then consider the medium-to longer-term impacts of this event, including risks and opportunities associated with reconstruction efforts whether by government or development partners. We conclude with some recommendations for the future.

Item ID: 43129
Item Type: Report (Report)
ISBN: 978-92-9257-001-9
Keywords: Cyclone Pam; Vanuatu; economy; disaster
Additional Information:

Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO)© 2015 ADB. The CC license does not apply to non-ADB copyright materials in this publication. Some rights reserved. Published in 2015.

Date Deposited: 24 Jun 2016 05:46
FoR Codes: 16 STUDIES IN HUMAN SOCIETY > 1604 Human Geography > 160403 Social and Cultural Geography @ 20%
05 ENVIRONMENTAL SCIENCES > 0502 Environmental Science and Management > 050204 Environmental Impact Assessment @ 40%
05 ENVIRONMENTAL SCIENCES > 0502 Environmental Science and Management > 050205 Environmental Management @ 40%
SEO Codes: 96 ENVIRONMENT > 9603 Climate and Climate Change > 960311 Social Impacts of Climate Change and Variability @ 30%
91 ECONOMIC FRAMEWORK > 9199 Other Economic Framework > 919902 Ecological Economics @ 40%
96 ENVIRONMENT > 9610 Natural Hazards > 961099 Natural Hazards not elsewhere classified @ 30%
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