Market‐based “disaster relief”: Katrina and the casino industry

Market‐based “disaster relief”: Katrina and the casino industry Purpose – The purpose of this paper is to examine the effect the rebuilding of the casino industry has had on the recovery efforts from Katrina. Design/methodology/approach – The paper uses quarterly data from four states affected by Katrina, and a simple OLS model to test the effect the casino industry has had on personal income in the states. Findings – The paper finds that the casino industry has had a statistically significant positive impact on the economic recovery in casino states relative to non‐casino states. Research limitations/implications – The paper examines a relatively short term. Other research has suggested that the long‐run effects of casinos are less certain. As more data become available, the model could be re‐tested. Practical implications – These results support previous evidence on a short‐run economic stimulus effect from casinos. Originality/value – The paper extends previous work on the Katrina recovery by including more data, including a control sample of states without casinos, and weighting the income and revenue data. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Social Economics Emerald Publishing

Market‐based “disaster relief”: Katrina and the casino industry

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Publisher
Emerald Publishing
Copyright
Copyright © 2008 Emerald Group Publishing Limited. All rights reserved.
ISSN
0306-8293
DOI
10.1108/03068290810886920
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to examine the effect the rebuilding of the casino industry has had on the recovery efforts from Katrina. Design/methodology/approach – The paper uses quarterly data from four states affected by Katrina, and a simple OLS model to test the effect the casino industry has had on personal income in the states. Findings – The paper finds that the casino industry has had a statistically significant positive impact on the economic recovery in casino states relative to non‐casino states. Research limitations/implications – The paper examines a relatively short term. Other research has suggested that the long‐run effects of casinos are less certain. As more data become available, the model could be re‐tested. Practical implications – These results support previous evidence on a short‐run economic stimulus effect from casinos. Originality/value – The paper extends previous work on the Katrina recovery by including more data, including a control sample of states without casinos, and weighting the income and revenue data.

Journal

International Journal of Social EconomicsEmerald Publishing

Published: Jun 6, 2008

Keywords: United States of America; Casinos; Economic growth; Disasters; Floods

References

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