: Immediate physical damage occurring at the time of the event, such as the destruction of infrastructure (roads, bridges, power lines), housing, and commercial assets.
Research identifies several long-term scenarios for an economy after a major shock: the impact of natural disasters on economic growth
: Economies often return to previous growth trends, but the absolute level of GDP remains lower than it would have been without the disaster. : Immediate physical damage occurring at the time
: Large disasters can cause an immediate drop in output growth, with some estimates showing a 1.3% decline in the disaster year for significant events. the impact of natural disasters on economic growth
The ability to absorb shocks varies drastically based on a nation's development level: