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Flood Damage in Bangkok: Disaster or an Opportunity for Creative Destruction

We attempt to evaluate the paths to recovery following the flood in 2011 in Thailand, which severely damaged the economy.

Published onJan 22, 2020
Flood Damage in Bangkok: Disaster or an Opportunity for Creative Destruction
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Abstract

We attempt to evaluate the paths to recovery following the flood in 2011 in Thailand, which severely damaged the economy. We use system dynamic to simulate the impact of flood and test the performance of the recovery effort. We set the boundary of our study to Bangkok. We build on Saeed’s model of Schumpeter’s concept of creative destruction, which he has posited as fore-runner to Forrester’s Urban Dynamics model. We extend Saeed’s model to subsume the infrastructure aging chain, land constraint, taxation, and service provision. We study the recovery policies implemented by Thai government as well as those alluded to in Urban Dynamics. We find that encouraging new investment and reducing cost of capital, paired with demolition of old infrastructure, help facilitate the recovery process.

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Thongsawas, P., Wiratchotisatian, P., Paisarnsrisomsuk, S., & Saeed, K. (2013). Flood damage in Bangkok: disaster an opportunity for creative destruction. Worcester Polytechnic Institute. https://wpi.primo.exlibrisgroup.com/permalink/01WPI_INST/uheu25/alma9936832947304746

*denotes a WPI undergraduate student author

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