The role of philanthropy in reducing impact of disaster on economies of ASEAN-9

Abstract

Abstract This study aims to determine the mediating effect of economic growth on the relationship between disaster and unemployment in the ASEAN-9 economies during the 2000-2020 period. It also attempts to examine the moderating role of religious philanthropy in reducing the impacts of disasters on economic growth and unemployment in the ASEAN-9. By using a combination of path analysis and panel moderated regression model, the study found that disasters have adversely affected economic growth and caused an increase in the employment rate. In addition, philanthropy is found to have a negative moderating role in the effects of disaster on economic growth and unemployment. The findings showed a significant role of philanthropy in reducing the impacts of disasters on economic growth and unemployment in ASEAN-9. Our findings provide an important benchmark for the formulation of government policies to mitigate disaster risks on economic problems through the enhancement of religious philanthropic institutions.