{"title":"风暴中心:印度的公司和资本破坏","authors":"Martino Pelli , Jeanne Tschopp , Natalia Bezmaternykh , Kodjovi M. Eklou","doi":"10.1016/j.jue.2022.103529","DOIUrl":null,"url":null,"abstract":"<div><p>The number and strength of climate-change-related disasters is increasing, and developing countries are bearing most of the brunt. In this paper we study how firms react to tropical cyclones<span> in India. Using a panel of manufacturing firms between 1995 and 2006 and cyclone data from the National Oceanic and Atmospheric Administration, we find that the average cyclone destroys 2.2% of a firm’s fixed assets and decreases its sales by 3.1%. The impacts of the average cyclone are temporary and disappear after one year. Focusing on the heterogeneity of these results by firm and industry quality, we also find that capital and sales reallocate toward better-performing industries. Within industry, firm quality only matters for the response of sales.</span></p></div>","PeriodicalId":48340,"journal":{"name":"Journal of Urban Economics","volume":null,"pages":null},"PeriodicalIF":5.7000,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"In the eye of the storm: Firms and capital destruction in India\",\"authors\":\"Martino Pelli , Jeanne Tschopp , Natalia Bezmaternykh , Kodjovi M. Eklou\",\"doi\":\"10.1016/j.jue.2022.103529\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p>The number and strength of climate-change-related disasters is increasing, and developing countries are bearing most of the brunt. In this paper we study how firms react to tropical cyclones<span> in India. Using a panel of manufacturing firms between 1995 and 2006 and cyclone data from the National Oceanic and Atmospheric Administration, we find that the average cyclone destroys 2.2% of a firm’s fixed assets and decreases its sales by 3.1%. The impacts of the average cyclone are temporary and disappear after one year. Focusing on the heterogeneity of these results by firm and industry quality, we also find that capital and sales reallocate toward better-performing industries. Within industry, firm quality only matters for the response of sales.</span></p></div>\",\"PeriodicalId\":48340,\"journal\":{\"name\":\"Journal of Urban Economics\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":5.7000,\"publicationDate\":\"2023-03-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of Urban Economics\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S009411902200105X\",\"RegionNum\":1,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Urban Economics","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S009411902200105X","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
In the eye of the storm: Firms and capital destruction in India
The number and strength of climate-change-related disasters is increasing, and developing countries are bearing most of the brunt. In this paper we study how firms react to tropical cyclones in India. Using a panel of manufacturing firms between 1995 and 2006 and cyclone data from the National Oceanic and Atmospheric Administration, we find that the average cyclone destroys 2.2% of a firm’s fixed assets and decreases its sales by 3.1%. The impacts of the average cyclone are temporary and disappear after one year. Focusing on the heterogeneity of these results by firm and industry quality, we also find that capital and sales reallocate toward better-performing industries. Within industry, firm quality only matters for the response of sales.
期刊介绍:
The Journal of Urban Economics provides a focal point for the publication of research papers in the rapidly expanding field of urban economics. It publishes papers of great scholarly merit on a wide range of topics and employing a wide range of approaches to urban economics. The Journal welcomes papers that are theoretical or empirical, positive or normative. Although the Journal is not intended to be multidisciplinary, papers by noneconomists are welcome if they are of interest to economists. Brief Notes are also published if they lie within the purview of the Journal and if they contain new information, comment on published work, or new theoretical suggestions.