Creative destruction revisited: regional impacts of natural disasters beyond GDP
研究发现水文地质灾害的经济影响取决于地方制度质量：高质量制度促进经济复苏甚至超越灾前GDP，而弱制度导致结构性衰退；但无论制度如何，受灾地区贫困、不平等和人类发展均恶化。
This research shows that the economic impact of the hydrogeological disasters critically depends on the quality of local institutions. Using Italian Nomenclature of Territorial Units for Statistics (NUTS) 3 data, we identify significant divergences across regions: after a disaster, high-quality institutions promote economic recovery, even stimulating gross domestic product (GDP) growth beyond pre-disaster levels. In contrast, regions with weak institutions experience structural economic decline. This divergence pertains to economic indicators exclusively. Socially, regardless of institutional quality, affected regions experience a deterioration in poverty levels, inequality and human development. These findings suggest that post-disaster policies prioritise economic over the mitigation of social vulnerability.