Evaluation of direct economic damage of the earthquake in Haiti

In a recent report published by the Inter-American Development Bank (IDB), states that the cost of rebuilding Haiti after the earthquake of January 12, could range 8,000 to 14,000 million dollars.

The measurement technique study was carried out using simple regression econometric (panel data and information on past natural disasters with their estimates of damages). Among the significant variables are used the magnitude of the disaster, the number of deaths, population and GDP per capita in the country concerned.

The cost of reconstruction will have a more detailed calculation as it completes a study of post-disaster needs. The damage has been calculated assuming the cost of 200,000 to 250,000 dead or missing, according to the evaluation reports from the Haitian government.

Although the results are subject to certain reservations, the study confirms that the earthquake in Haiti has been probably the most destructive natural disasters of modern times, even greater than the devastating Southeast Asian tsunami of 2004.

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