Hedging against catastrophic risk; on financing large infrastructure projects [component]

Backhaus J.G.
1998 unpublished
In drawing on modern finance theory, this note demonstrates the importance of financial instruments for large public sector projects. An explicit link to the theory of Henry George is made, and a public sector financing approach is being demonstrated by using the example of the Oder floodings in 1997. While the main thrust of the proposal lies on physically containing the risk of future floodings, the role of the insurance industry and bringing the solution about is also explicitly considered.
more » ... icitly considered. J.E.L. G12, H54
doi:10.26481/umamet.1998007 fatcat:yh2qb3fzazf6dgtn22yg7yygqu