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Who bears the costs of natural disasters? : an Australian case study.

By: Contributor(s): Material type: TextTextLanguage: ENG Publication details: 1980Description: 18 p. : illSubject: The distributional impact of a disaster depends on societal institutions and the ways in which they operate. This paper considers these matters for a particular disaster in a high income country. Complications with respect to estimating economic losses from a natural disaster are considered, as well as how the social mechanisms operate in Australia. The government emerges as the major source of funds to compensate for destruction of private assets and the insurance mechanism is found to operate in a non-uniform way for private and commercial assets.
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Includes bibliographical references

Reprinted from Disasters; 1980; Vol. 4, No. 2; p. 187-204

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The distributional impact of a disaster depends on societal institutions and the ways in which they operate. This paper considers these matters for a particular disaster in a high income country. Complications with respect to estimating economic losses from a natural disaster are considered, as well as how the social mechanisms operate in Australia. The government emerges as the major source of funds to compensate for destruction of private assets and the insurance mechanism is found to operate in a non-uniform way for private and commercial assets.

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