The Effects of Natural Disasters on Local Economies: A Study on Florida Counties Open Access

Santiago Ruiz, Naomi Yoali (Spring 2022)

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This paper estimates the economic impact of natural disasters in Florida using county-level data from 1970 to 2019. Limiting the focus to the Florida counties yields estimates specific to the geographic characteristics of this state. We find that a severe disaster tends to cause an increase in crop and property damage and a decrease in the poverty growth rate. The effects of natural disasters on the growth rates of median household income, poverty rate, and housing units vary by disaster type and severity.

Table of Contents

Introduction. 1

Background on Natural Disasters in Florida. 4

Discussion of Theoretical Predictions. 5

Data Sources. 6

Methodology. 8

Results. 11

Discussion. 13

Appendix. 15

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