Policy and Economics of Hazards

Weather-impact-on-food_1.jpg

Weather impacts on food supply
Weather impacts on food supply

Project Status:

This project will identify the optimum economic policy options to recover or minimise the adverse effects of natural hazards.

Pre-disaster multi-hazard damage and economic loss estimation model - project overview

This project is investigating the economic impact of natural disasters on the Australian economy, across sectors such as agriculture, forestry and fishing, mining, manufacturing, utilities, construction, retail trade, transport, and health care. Economic impacts can often be overlooked in management planning as effects are not immediate.

A substantial problem is the inability to estimate the full economic impact of natural hazards, considering all the affected sections of the economy. This effort should take into account not only the primary impacts of natural disasters, but also secondary impact due to economic loss.

At the state level in Victoria, the study is assessing the multi-hazard risks for bushfires, floods and earthquakes and will estimate the potential damages and economic losses created by these events.

The project is conducting a case study on the 2010-2011 Queensland floods, which involves comparisons between the economic sectors of flooded areas and unaffected areas. The income of individuals residing in those areas is being compared with finer detail of employment sectors to detect any differences in income by employment type as a result of the flood. Preliminary results indicate a range of outcomes - some sectors experienced no income difference as a result of the floods, while three sectors were impacted negatively, and two were impacted positively.

This project has identified at least two requirements that need to be addressed. Firstly, a disaster risk assessment system needs to be developed that provides quantifiable potential damages as a result of different types of disasters for regions of Australia. Secondly, a framework needs to be established to estimate the indirect economic losses. With the identification of the disaster-specific potential damage and losses, policymakers at different levels will be able to formulate disaster risk reduction-inclusive development policies to mainstream disaster resilience practices.

The overall objective is to build a scenario-based pre-disaster multi-hazard damage and economic loss estimation model to support decision makers in reducing disaster risks at the sectoral level.

Flood hazard
16 November, 2016
The latest videos featuring CRC researchers, PhD students and end-users explaining our science and the benefits it will bring are now online.
14 September, 2016
New journal articles and reports on CRC research are available online.
Holger Maier presents at the 2016 Hobart RAF
24 June, 2016
A number of insights around who dies in floods, mitigation benefits, estimating resilience and economics were key takeways for me from the Research Advisory Forum in Hobart.
A pre-disaster multi-hazard damage and economic loss estimation model for Australia
25 Aug 2014

Australia has experienced a number of natural disasters throughout history that have significantly impacted upon the economy. 

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Seismic Vulnerability Assessment of Buildings in Australia
18 Aug 2015

This poster present research activities undertaken in the University of Melbourne and Swinburne University of Technology towards assessment of seismic vulnerability of buildings in Australia. The activities contributes to BHNCRC Project aimed to develop risk mitigation and retrofitting strategies for the most vulnerable Australian buildings subject to earthquakes.

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Design & Implementation of pre-disaster hazard loss estimation platform
11 Sep 2015

The platform developed and utilised for this work is the Pre-disaster Hazard Loss Estimation Platform (PHiLEP). The PHiLEP platform is particularly suitable for this specific research purpose since it is devised to facilitate the decision making process in Disaster Risk Reduction (DRR) field by utilising a combination of spatial data management, disaster modelling, optimisation technologies and visualisation.

Effects of natural disasters on sectoral economic development: Evidence from Australia
11 Sep 2015

 Using a unique dataset observed over 1990-2014, we estimate the impact of natural disasters on sector-specific economic growth of Australia at both state and national levels

 Bringing hazard and economic modellers together
11 Sep 2015

 A paper on the use of a spatial platform for damage and loss visualization to bring together hazard and economic modellers

 Reviewing past hazard events in Australia and Victoria
11 Sep 2015

In order to better understand the history of natural disasters in Australia as a whole, and also solely in the state of Victoria, a review of the past hazard events data was conducted. The data was obtained from the Australian government website www.emknowledge.gov.au and includes events from the years 1857 to 2014.

Mehmet Ulubasoglu Conference Poster 2016
12 Aug 2016

This project is investigating, at the national level, the economic impact of natural disasters on sectoral growth of the Australian economy. 

Elisa Lumantarna Conference Poster 2016
12 Aug 2016

This poster introduces a rapid seismic assessment method for reinforced concrete buildings in regions of low to moderate seismicity such as Australia.

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