Cultural resilience and economic recovery : evidence from Hurricane Katrina / Iftekhar Hasan, Stefano Manfredonia, Felix Noth
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Cultural resilience and economic recovery
Discovery
1733595120
URN
urn:nbn:de:gbv:3:2-125998
DOI
ISBN
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Publication history
Halle (Saale), Germany : Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, [22. September 2020]
Content
1 Online-Ressource (III, 56 Seiten, 3,06 MB) : Illustration, Diagramm
Edition
Language
eng
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Abstract
This paper investigates the critical role of culture for economic recovery after natural disasters. Using Hurricane Katrina as our laboratory, we find a significant adverse treatment effect for plant-level productivity. However, local religious adherence and larger shares of ancestors with disaster experiences mutually mitigate this detrimental effect from the disaster. Religious adherence further dampens anxiety after Hurricane Katrina, which potentially spur economic recovery. We also detect this effect on the aggregate county level. More religious counties recover faster in terms of population, new establishments, and GDP.
Series
IWH-Diskussionspapiere ; 2020, no. 16 (September 2020) ppn:837399270