RSS | Stéphane Hallegatte
Stéphane Hallegatte, Senior Economist in the Climate Change Group at the World Bank, will be the speaker for this seminar. The subject of Stéphane’s presentation will be:
‘Defining, modeling, and measuring socio-economic resilience’
Economic losses from natural disasters totaled $92 billion in 2015.” Such statements, all too commonplace, assess the severity of disasters by no other measure than the damage inflicted on buildings, infrastructure, and agricultural production. But $1 in losses does not mean the same thing to a rich person that it does to a poor person; the gravity of a $92 billion loss depends on who experiences it. By focusing on aggregate losses—the traditional approach to disaster risk—we restrict our consideration to how disasters affect those wealthy enough to have assets to lose in the first place, and largely ignore the plight of poor people. This presentation will discuss how to move beyond aggregate asset losses and explore how natural disasters affect people’s well-being, taking into account the specific vulnerability of the poorest. It will explore multiple theoretical and empirical issues, including:
- How to translate the asset losses that are commonly reported after a disaster into the losses in consumption that affect the population? How to account for indirect losses, and the specific impact through infrastructure service interruptions?
- How to assess the distribution of consumption losses across households? How to measure the difference in exposure, vulnerability, and resilience across households, and especially between people living in poverty and the rest of the population?
Finally, the presentation will propose an estimate of the “socio-economic resilience” in 120 countries, defined as the ability of their population to cope with and recover from natural disasters, and discuss policy options to lessen the impact of natural disasters on well-being, such as expanding financial inclusion, disaster risk and health insurance, social protection and adaptive safety nets, contingent finance and reserve funds, and universal access to early warning systems.
This seminar is open to all LSE staff and students. If you are from outside the LSE and would like to attend, please email Gri.Events@lse.ac.uk to register for a place.