: Developed nations typically mitigate growth impacts through higher government expenditure, diverse financial markets, and better-developed institutions.
: Higher literacy rates and education levels allow populations to adapt more quickly to post-disaster economic shifts. the impact of natural disasters on economic growth
: Developing countries often face more severe output declines (average losses of 2.1 to 3.7 percentage points) due to lower resource mobilization capacity and limited insurance markets. diverse financial markets
Short-term economic data can be misleading immediately following a disaster: the impact of natural disasters on economic growth