9:30 AM - 9:45 AM
[043] Exploring The Determinants That Motivate Homeowners To Make Earthquake-Resilient Infrastructure In Bangladesh.
Keywords:Motivating factor, Willingness to pay, Earthquake-resilient, Interest rate, CVM, Bangladesh
Bangladesh is highly susceptible to great earthquakes due to its geographic position. Moreover, it has been felt several tremors for a long time that may also bear signs of an upcoming great earthquake. But People are not so much aware of the damaging effect of earthquakes due to a lack of dissipation of information. Moreover, Homeowners are reluctant to implement seismic adjustments to make their buildings earthquake resilient. This study tries to find out the motivating factors of the homeowner to make their buildings earthquake resilient. Our study has two objectives; firstly, to identify and evaluate the factors or determinants that trigger the related stakeholder in taking the decision to make an earthquake-resilient structure in Bangladesh. Secondly, determining the feasible percentage of subsidy by the government in the home loan scheme as a motivation to make the earthquake-resilient structure. Data were collected from 200 house owners through a questionnaire survey in three areas of Dhaka Districts (i.e. Aminbazar, Uttar Badda, Mirpur), Bangladesh. The ordinal Regression Method and the Contingent Valuation Method (CVM) has used to analyze the collected data. This study concluded that factors such as the disastrous effect of an earthquake, understandability of earthquake risk information, declaration about seismic adjustment at the point of sale or rent, reduction of permission fees, corruption, and lack of skilled professionals strongly affect negatively to the intention of the homeowners to make their building resilient. This is due to the higher fatalistic attitude and low level of formal education as well as not having any type of disaster education among the respondent. Moreover, earthquake risk information is not widely dissipated among the general people. On the other side, the probability of happening large earthquake, mindset regarding approval of plan permission and satisfying any disaster-related code, community engagement, various types of financial incentives (i.e, low-interest loan, tax deductibles, reduced building tax) an earthquake insurance system relates more likely as positive with the intention of the homeowner to make their house earthquake-resilient. This study also suggests that if government take initiative to reduce the interest rate in the home loan scheme by 0.63%, approximately 45% of respondents are motivated to make their building earthquake resilient. The policymakers could take account these motivating factors into consideration at the time of preparing earthquake disaster-related policies in Bangladesh. In addition, they can integrate incentive mechanisms into long-term disaster management policies as a motivation for the homeowner to make the structure earthquake resilient.