: More open economies can often substitute lost local production with imports, moderating aggregate impacts. Natural Hazards and Economic Growth
: Better political institutions and lower corruption correlate with faster recoveries and reduced negative impacts. the impact of natural disasters on economic growth
: Developed nations typically mitigate growth impacts through higher government expenditure, diverse financial markets, and better-developed institutions. : More open economies can often substitute lost
Short-term economic data can be misleading immediately following a disaster: diverse financial markets
: Large disasters can cause an immediate drop in output growth, with some estimates showing a 1.3% decline in the disaster year for significant events.