This project aims to better understand the economic effects of typhoons. The project will focus on business in the Philippines - the worldʼs most typhoon-prone country.
Climate change is making typhoons stronger and more frequent. These powerful storms can cause widespread damage, death, and loss of livelihoods. As global warming continues, typhoons are expected to become even more destructive, increasing the urgency of understanding their economic impacts. This knowledge is vital to guide public policies for climate-resilient economies, particularly in vulnerable and low-income regions.
TEMPEST aims to better understand the economic effects of typhoons. The project will focus on business in the Philippines—the worldʼs most typhoon-prone country. Using unique data on Philippine enterprises combined with trade transaction records, we can learn:
- How do typhoons impact firmsʼ long-term growth trajectories?
- What strategies do businesses use to adapt and recover?
- How do typhoons reshape productivity across firms and within industries?
- What are the microeconomic sources of typhoonsʼ effects on the macroeconomy?
More about the project
The project brings a new perspective to existing research. First, unlike most studies that focus on narrow outcomes, TEMPEST examines multiple dimensions of business performance. Second, by exploring adaptation strategies, The project will shed light on a poorly understood area of study. Finally, with nearly three decades of data, TEMPEST is well-positioned to assess the sustained impacts of typhoons on businesses, addressing a significant gap in prior studies.
The project not only advances scientific research, but will also help to:
- Shape policies for disaster management, preparedness, and response
- Strengthen private sector development
- Inform climate policy discussions
TEMPEST is led by Oslo Business School, in collaboration with BI Norwegian Business School, World Bank, University of the Philippines, and Ateneo de Manila University, Philippines. TEMPEST fosters equitable partnerships through joint scientific leadership, fair resource and credit distribution, and mutual respect.
Participants
Partners
- University of the Philippines
- Ateneo de Manila University
- BI Norwegian Business School
- World Bank
