Economic Effects of the 1999 Turkish Earthquakes An Interim Report

This Working Paper presents a cross-Directorate Report on the economic, budgetary, regulatory and urbanpolicy implications of the earthquakes which struck the Marmara and Bolu areas of Turkey on 17 August and 12 November 1999. The earthquakes caused high casualties and significant material damage to...

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Bibliographic Details
Main Author: Bibbee, Alexandra
Other Authors: Gönenç, Rauf, Jacobs, Scott, Konvitz, Josef
Format: eBook
Language:English
Published: Paris OECD Publishing 2000
Series:OECD Economics Department Working Papers
Subjects:
Online Access:
Collection: OECD Books and Papers - Collection details see MPG.ReNa
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520 |a This Working Paper presents a cross-Directorate Report on the economic, budgetary, regulatory and urbanpolicy implications of the earthquakes which struck the Marmara and Bolu areas of Turkey on 17 August and 12 November 1999. The earthquakes caused high casualties and significant material damage to property, with severe effects on economic activity. The Report traces the factors underlying Turkey's vulnerability to earthquake damage, along a known active fault line, to deficiencies in risk identification procedures and risk-reduction methods, as well as to the absence of risk transfer and financing techniques. It suggests that these deficiencies may stem from the nature of recent Turkish economic development, which has been driven by the need to assimilate a mass migration from the countryside to the cities and has been associated with extremely high and variable inflation. Ensuring a more orderly future development requires both an overhaul of governance structures in ..