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					                 ISSUES
1. REPORTING
• Limited damage assessment i.e. a)
   casualties; b) damage to agri; and c) infra
   damages
• Not all private business losses are reported
• Limited report on production capacity
   losses and labor displacement
                ISSUES
• Reflecting losses on GDP accounts will not
  be realistic
• At present, we deduct the agricultural
  damages to the projected harvest
                 ISSUES
2. VALUATION
• Over estimation of losses
• Inconsistencies i.e. construction cost or
   replacement cost?
• No accurate data on economic value of
   goods and services utilizing certain
   infrastructure like bridges
                 ISSUES
• Difficulty in putting values on certain goods
  and services like hospitals, water supply
• Inflation may be offset by imports and
  domestic trading
                 ISSUES
3. COUNTER EFFECT OF RESPONSE TO
   GDP AND GNP
• Difficulty in attributing the effects, i.e.
   lost forex from exports firms but OFW
   remittance may increase offsetting impact
• Production losses may be offset by
   disaster response like public works and
   emergency employment schemes
                ISSUES
4. COMPUTER MODEL
• A computer model may be needed to
• a) Calculate with a higher level of
   accuracy the impacts
• b) Simulate future socio-economic impact
   of disasters
• This will enable policy makers to decide
   on preparedness and mitigation measures

				
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posted:3/23/2011
language:English
pages:6