GLOBAL PRODUCTIVITY
CHAPTER 3
167
FIGURE 3.8 Episodes across different types of events In 1960-2018, natural disaster episodes occurred 25 times more frequently than wars, and 12 times more frequently than financial crises. Severe natural disasters occurred twice as often as severe wars. However, on average, wars lasted for about six years, twice as long as financial crises, with natural disasters the shortest-lived. A. Average number of episodes per year
B. Average number of severe natural disaster and severe war episodes per year
C. Average number of episodes per year in EMDEs
D. Average number of episodes per year in AEs
E. Average number of episodes per year in LICs
F. Average duration
Sources: Correlates of War (COW); Emergency Events Database (EM-DAT); Laeven and Valencia (2018); Peace Research Institute Oslo (PRIO); World Bank. Note: Natural disasters include climate, biological, and geophysical disasters (EM-DAT). Wars include intrastate and external (extrastate and interstate) wars (COW and PRIO). Financial crises include banking, currency, and sovereign debt crises (Laeven and Valencia 2018). Definitions are in annex 3A. An episode dummy for a specific type of event is 1 if the event occurs at least once (≥1) in a country-year pair and 0 otherwise. Severe natural disasters and severe wars are events that led to at least 100 deaths per million population. The sample includes 170 economies: 35 advanced economies and 135 EMDEs, of which 27 are LICs. EMDEs = emerging market and developing economies; LICs = low-income countries. B. Severe natural disasters and severe wars are defined as events that led to at least 100 deaths in million population.