RT Journal Article
SR Electronic
T1 Environmental Disasters and Property Values: Evidence from Nepal's Forest Fires
JF Land Economics
JO Land Econ
FD University of Wisconsin Press
SP 110519-0159R2
DO 10.3368/le.98.1.110519-0159R2
A1 Jayash Paudel
YR 2021
UL http://le.uwpress.org/content/early/2021/10/13/le.98.1.110519-0159R2.abstract
AB This article employs satellite data on real-time active fire locations to evaluate the impact of forest fires on property values in Nepal. Results show that an additional unit increase in fire radiative power from last month's forest fires causes a 0.61% decrease in residential property values. Property values decline by 4.48% for every additional unit increase in the number of forest fire incidents over the last year. These estimates suggest that policymakers should prioritize wildfire risk awareness and fire prevention programs in areas with higher levels of declined property values associated with recurring forest fire incidents.