摘要：This paper investigates the impacts of a natural disaster on land and real estate prices. Using unique land and real
estate price panel datasets for multiple periods, one group before and the other after the 2011 floods in Thailand, we
find that the floods adversely affected land prices for industrial use. However, the prices of commercial and residential
land did not decline despite substantial damages from the floods, suggesting a relative lack of liquidity or other frictions
in the land and real estate markets in Thailand.
