Operationalizing Iterative Risk Management under Limited Information: Fiscal and Economic Risks Due to Natural Disasters in Cambodia

Junko Mochizuki; Soravit Vitoontus; Bandula Wickramarachchi; Stefan Hochrainer-Stigler; Keith Williges; Reinhard Mechler; Ros Sovann

doi:10.1007/s13753-015-0069-y

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Article Navigation > International Journal of Disaster Risk Science > 2015 > 6(4): 321-334

Junko Mochizuki, Soravit Vitoontus, Bandula Wickramarachchi, Stefan Hochrainer-Stigler, Keith Williges, Reinhard Mechler, Ros Sovann. Operationalizing Iterative Risk Management under Limited Information: Fiscal and Economic Risks Due to Natural Disasters in Cambodia[J]. International Journal of Disaster Risk Science, 2015, 6(4): 321-334. doi: 10.1007/s13753-015-0069-y

Citation:

Junko Mochizuki, Soravit Vitoontus, Bandula Wickramarachchi, Stefan Hochrainer-Stigler, Keith Williges, Reinhard Mechler, Ros Sovann. Operationalizing Iterative Risk Management under Limited Information: Fiscal and Economic Risks Due to Natural Disasters in Cambodia[J]. International Journal of Disaster Risk Science, 2015, 6(4): 321-334. doi: 10.1007/s13753-015-0069-y

Citation:

Junko Mochizuki, Soravit Vitoontus, Bandula Wickramarachchi, Stefan Hochrainer-Stigler, Keith Williges, Reinhard Mechler, Ros Sovann. Operationalizing Iterative Risk Management under Limited Information: Fiscal and Economic Risks Due to Natural Disasters in Cambodia[J]. International Journal of Disaster Risk Science, 2015, 6(4): 321-334. doi: 10.1007/s13753-015-0069-y

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Operationalizing Iterative Risk Management under Limited Information: Fiscal and Economic Risks Due to Natural Disasters in Cambodia

doi: 10.1007/s13753-015-0069-y

1 International Institute for Applied Systems Analysis(IIASA), 2361 Laxenburg, Lower Austria, Austria;
2 Asian Disaster Preparedness Center(ADPC), Bangkok 10400, Thailand;
3 National Committee for Disaster Management(NCDM), Phnom Penh 12105, Cambodia

Available Online: 2021-04-26

Abstract

Abstract

Iterative risk management and risk-sensitive public investment planning are increasingly seen as essential elements of natural disaster resilience. This article assesses the disaster risk facing the hazard-prone Southeast Asian country of Cambodia and discusses its fiscal preparedness and need for proactive disaster risk management. The study provides a bottom-up assessment of flood and cyclone risks to public and private buildings including educational structures, health facilities, and housing and estimates the total direct economic damage to range from approximately USD 304 million for a 5-year return period event to USD 2.26 billion for a 1000-year return period event. These estimates were further analyzed using the fiscal risk due to disasters, which indicates that Cambodia will likely face a resource gap whenever a hazard as large as that of a 28-year return period event strikes. Given the frequent occurrence of disasters and rapid accumulation of capital assets taking place, proactive risk reduction is highly advisable. But interviews with national policymakers also revealed that there are a number of barriers to effective risk reduction and management in Cambodia. The general lack of awareness regarding risk-based concepts and the limited availability of local risk information necessitate a continued and sustained effort to build iterative risk management in Cambodia.
- Cambodia,
- Fiscal impact,
- Iterative risk management,
- Macroeconomic impact,
- Natural disaster risk

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References(60)

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