Given the complex relationship between natural disasters and economic growth, researchers need to examine the potential effects of natural disasters in three distinctive phases: short-run (for example, emphasizing political transitions through economic growth), medium- to long-run (for example, focusing directly on natural disasters and economic growth), and very long-run (for example, highlighting deeper indicators of growth). On the basis of the literature review conducted, this article discusses the data and measurement issues as well as the estimation framework regarding natural disasters and economic growth within the same framework.
Natural disasters are adverse effects that affect the earth’s natural processes, or the largescale
geological and meteorological events such as hurricanes, floods, tornados, volcanoes
eruptions, earthquakes, tsunamis, and storms. Natural disasters have always led to the loss of
life, damaged properties, and has caused economic damage. It has also resulted in physical,
biological, and social damage causing a negative impact of the affected leading to a long-
term impact on health, wellbeing, and survival. During natural disasters, those at low income
are most vulnerable.
Natural disasters have been divided into five categories,
a) Geological disasters
This kind of disaster is caused when two or more natural forces or manmade forces act
together to cause a disaster. examples of geological natural disasters are like
Landslide -a mass-wasting event such as rockfalls and debris flows which are caused
by rainfall, earthquakes, and volcano eruptions.
Avalanche -this is a natural and deadly disaster; snows move from the top of a
mountain or hill burying everything in its path.
Earthquakes- a sudden release of energy from the ground causing shaking, vibration,
and replacement of the ground.
Sinkhole- A hole or depression on the surface due to the collapse of the soil surface
Volcano eruptions- it causes falling of rocks and explosion of the debris and is
considered one of the deadliest forms of geological natural disaster.
b) Hydrological disasters.
Floods-overflow of water that submerges the land that is usually dry.
Limnic eruptions-caused by eruptions of carbon dioxide from the deep of the lake
Tsunami-displacement of the massive volume of water in the sea or lake which
produces large and high waves.
c)Meteorological disasters- are a result of extreme weather such as drought, rain, and snow.
This is uncontrolled fire and can also be referred to as the bush fire, desert fire, vegetation
fire, grass fire, and many more.