论文标题
金融发展和财政稳定与应对新兴经济体灾难的相关性
Relevance of financial development and fiscal stability in dealing with disasters in Emerging Economies
论文作者
论文摘要
先前的研究表明，自然灾害会减少经济增长，而在金融发展较低的国家中，自然灾害的增长更多。我们通过更多的数据确认了这些结果。我们是第一个表明财政稳定会减少较贫穷国家的自然灾害的负面经济影响，并且灾难债券在富裕国家中具有相同的影响。
Previous studies show that natural disasters decelerate economic growth, and more so in countries with lower financial development. We confirm these results with more recent data. We are the first to show that fiscal stability reduces the negative economic impact of natural disasters in poorer countries, and that catastrophe bonds have the same effect in richer countries.
