Economic impact of flood damage based on inter-regional input–output analysis: a case of local rivers in the Nakdong River basin
This study evaluated the economic impacts of flood damage in the Nakdong River basin, South Korea, by quantifying both direct and indirect damages caused by local riverine floods. We used a risk-based approach to calculate direct damages as expected annual damages across five critical asset categori...
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| Format: | Article |
| Language: | English |
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IOP Publishing
2025-01-01
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| Series: | Environmental Research Communications |
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| Online Access: | https://doi.org/10.1088/2515-7620/adca96 |
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| author | Jeonghyun Yang Kichul Jung |
| author_facet | Jeonghyun Yang Kichul Jung |
| author_sort | Jeonghyun Yang |
| collection | DOAJ |
| description | This study evaluated the economic impacts of flood damage in the Nakdong River basin, South Korea, by quantifying both direct and indirect damages caused by local riverine floods. We used a risk-based approach to calculate direct damages as expected annual damages across five critical asset categories: residential buildings, agricultural assets, vehicles, human impact, and industrial assets. To assess indirect damages, we utilized an inter-regional input–output model, capturing the cascading economic effects across various industries and regions. Our analysis revealed pronounced spatial heterogeneity, identifying industrial and residential buildings as the most vulnerable asset categories. Indirect damages were predominantly concentrated in the manufacturing and service sectors, highlighting their critical roles within regional and national economies. Regions such as Seoul and Gyeonggi Province exhibited substantial indirect damages, revealing the economic interdependencies between flood-affected and nonaffected areas. These findings emphasize the need for spatially nuanced and sector-specific flood risk management strategies. Moreover, this study indicates the importance of integrating forward-looking climate and socioeconomic projections into flood defense policies to address the increasing risks posed by climate change. The results provide actionable insights for policymakers, advocating for enhanced flood resilience to effectively mitigate future economic risks. |
| format | Article |
| id | doaj-art-dbbf12d4ed5642e0b14191ae076be133 |
| institution | DOAJ |
| issn | 2515-7620 |
| language | English |
| publishDate | 2025-01-01 |
| publisher | IOP Publishing |
| record_format | Article |
| series | Environmental Research Communications |
| spelling | doaj-art-dbbf12d4ed5642e0b14191ae076be1332025-08-20T03:18:05ZengIOP PublishingEnvironmental Research Communications2515-76202025-01-017404100810.1088/2515-7620/adca96Economic impact of flood damage based on inter-regional input–output analysis: a case of local rivers in the Nakdong River basinJeonghyun Yang0https://orcid.org/0009-0009-1836-2054Kichul Jung1https://orcid.org/0000-0003-0261-0331Division for Integrated Water Management, Korea Environment Institute , Sejong 30147, Republic of KoreaDepartment of Planning and Strategy, Korea Environment Institute , Sejong 30147, Republic of KoreaThis study evaluated the economic impacts of flood damage in the Nakdong River basin, South Korea, by quantifying both direct and indirect damages caused by local riverine floods. We used a risk-based approach to calculate direct damages as expected annual damages across five critical asset categories: residential buildings, agricultural assets, vehicles, human impact, and industrial assets. To assess indirect damages, we utilized an inter-regional input–output model, capturing the cascading economic effects across various industries and regions. Our analysis revealed pronounced spatial heterogeneity, identifying industrial and residential buildings as the most vulnerable asset categories. Indirect damages were predominantly concentrated in the manufacturing and service sectors, highlighting their critical roles within regional and national economies. Regions such as Seoul and Gyeonggi Province exhibited substantial indirect damages, revealing the economic interdependencies between flood-affected and nonaffected areas. These findings emphasize the need for spatially nuanced and sector-specific flood risk management strategies. Moreover, this study indicates the importance of integrating forward-looking climate and socioeconomic projections into flood defense policies to address the increasing risks posed by climate change. The results provide actionable insights for policymakers, advocating for enhanced flood resilience to effectively mitigate future economic risks.https://doi.org/10.1088/2515-7620/adca96flood risk assessmentlocal riverobject-based analysisinter-regional input–output analysis (IRIO)spatial analysis |
| spellingShingle | Jeonghyun Yang Kichul Jung Economic impact of flood damage based on inter-regional input–output analysis: a case of local rivers in the Nakdong River basin Environmental Research Communications flood risk assessment local river object-based analysis inter-regional input–output analysis (IRIO) spatial analysis |
| title | Economic impact of flood damage based on inter-regional input–output analysis: a case of local rivers in the Nakdong River basin |
| title_full | Economic impact of flood damage based on inter-regional input–output analysis: a case of local rivers in the Nakdong River basin |
| title_fullStr | Economic impact of flood damage based on inter-regional input–output analysis: a case of local rivers in the Nakdong River basin |
| title_full_unstemmed | Economic impact of flood damage based on inter-regional input–output analysis: a case of local rivers in the Nakdong River basin |
| title_short | Economic impact of flood damage based on inter-regional input–output analysis: a case of local rivers in the Nakdong River basin |
| title_sort | economic impact of flood damage based on inter regional input output analysis a case of local rivers in the nakdong river basin |
| topic | flood risk assessment local river object-based analysis inter-regional input–output analysis (IRIO) spatial analysis |
| url | https://doi.org/10.1088/2515-7620/adca96 |
| work_keys_str_mv | AT jeonghyunyang economicimpactofflooddamagebasedoninterregionalinputoutputanalysisacaseoflocalriversinthenakdongriverbasin AT kichuljung economicimpactofflooddamagebasedoninterregionalinputoutputanalysisacaseoflocalriversinthenakdongriverbasin |