Impact of Floods on Real Economy, Land Prices, and Financial Intermediation in Japan

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Summary
Japan has historically been plagued by floods. In recent years as well, there have been a series of large-scale floods that have caused direct damage in excess of JPY 1 trillion to tangible fixed assets nationwide. We combine the granular data on flood damage and land prices with macroeconomic variables to quantitatively assess the indirect impacts, i.e., secondary impacts of the direct effects, of floods on economic activity, land prices and financial intermediation. We also present tentative projections on how floods will affect economic activity in the future, using climate change estimates from an external organization.

Nao SUDO
(Bank of Japan)
Nao Sudo is the Head of Economic and Financial Studies Division, Institute for Monetary and Economic Studies, Bank of Japan. His Division is responsible for research on broad issues of economics and finance. Prior to his current role, he was the head of Financial System Research Division at Financial System and Bank Examination Department. Nao Sudo was born in 1977. He studied economics in Kyoto and Boston and holds a PhD by Boston University.

Moderator: Sébastien LECHEVALIER (FRIJ-MFJ)
Organization: FRIJ-MFJ
Co-organization: CCI France Japon
Support: French Embassy in Japan