PT  - JOURNAL ARTICLE
AU  - Li, Jingyuan
AU  - Landry, Craig E.
TI  - Flood Risk, Local Hazard Mitigation, and the Community Rating System of the National Flood Insurance Program
AID  - 10.3368/le.94.2.175
DP  - 2018 May 01
TA  - Land Economics
PG  - 175--198
VI  - 94
IP  - 2
4099  - http://le.uwpress.org/content/94/2/175.short
4100  - http://le.uwpress.org/content/94/2/175.full
SO  - Land Econ2018 May 01; 94
AB  - Using panel data for North Carolina communities, we estimate dynamic regression models of flood mitigation projects as recognized by the Community Rating System (CRS) of the National Flood Insurance Program. We find serial correlation in CRS points, which we interpret as incremental persistence that reflects physical and human capital accumulation. We find greater levels of mitigation in communities with larger tax revenues and lower levels of crime and unemployment, and a weak, but significant, effect due to recent flood experience. Socioeconomic factors also affect hazard mitigation; CRS points are greater in communities with greater median household income and higher population density. (JEL H44, Q54)