Natural disasters as a factor of economic growth and innovative development

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Doklady Bashkirskogo Universiteta. 2019. Volume 4. No. 5. pp. 502-508.

Authors

Marichev S. G.*
Center of Strategic and Interdisciplinary Studies of the Ufa Federal Research Center of the Russian Academy of Sciences
71 October Avenue, 450054 Ufa, Republic of Bashkortostan, Russia

Abstract

The article considers external shocks as one of the key factors affecting the socio-economic development of society. In particular, the probability of the bi-directional (positive and negative) impact of natural and man-made disasters on innovative development and economic growth is investigated. The possibility of a positive impact of natural disasters on the economy is associated with the concept of “creative destruction” by J. Schumpeter and is tested on the example of both developed and developing countries (Japan, USA, Haiti).

Keywords

  • external shocks
  • economy
  • recession
  • innovative development
  • economic growth
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