In the eye of the storm: Firms and capital destruction in India
研究印度制造业企业在1995-2006年间如何应对热带气旋，发现平均气旋破坏企业2.2%的固定资产并减少3.1%的销售额，影响一年后消失，资本和销售向表现更好的行业重新配置。
The number and strength of climate-change-related disasters is increasing, and developing countries are bearing most of the brunt. In this paper we study how firms react to tropical cyclones in India . Using a panel of manufacturing firms between 1995 and 2006 and cyclone data from the National Oceanic and Atmospheric Administration, we find that the average cyclone destroys 2.2% of a firm’s fixed assets and decreases its sales by 3.1%. The impacts of the average cyclone are temporary and disappear after one year. Focusing on the heterogeneity of these results by firm and industry quality, we also find that capital and sales reallocate toward better-performing industries. Within industry , firm quality only matters for the response of sales.