Investing in disaster risk reduction can reduce the economic and human losses incurred by natural disasters. Moreover, it is crucial for achieving Sustainable Development Goals (SDGs). However, empirical studies that examine investment in disaster risk reduction are limited owing to the lack of data on investment in this area.
This paper aims to identify the factors that influence the budgeting for flood protection by analyzing investment data in major flood-prone countries in Asia. It also intends to propose approaches for financing investment in flood protection, which is integrated with climate change adaptation. The study demonstrates that damage due to flood disasters has resulted in increased investment in flood protection and that the amount of investment has further increased with the increase in GDP per capita and population density.
The authors state that, to the best of their knowledge, the study is the first empirical analysis on the relationship of investment with damage and socioeconomic development across economies.
The paper was published in the journal entitled “Progress in Disaster Science” and can be downloaded via the website below.