Human capital ; Rate of return ; Hurricanes ; Difference-in-difference
This study examines whether hurricanes have any impact on performance in high school standardized examinations. The analysis uses a panel of thirteen Caribbean countries and over 800 schools for the period 1993 through 2010. In particular, the effect on subjects in the humanities and sciences is examined. A generalized difference-in-difference technique is utilized to study the relationship at the school, parish, year and country levels. The results show a negative and significant effect on performance in the sciences if hurricanes strike when school is in session, and a positive or no effect when school is not in session. In addition, subjects in the humanities remain unaffected.