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A Global Analysis of the Macroeconomic Effects of Climate Change

Author

Listed:
  • Idris A. Adediran
  • Kazeem O. Isah
  • Ahamuefula E. Ogbonna
  • Sheriff K. Badmus

    (Centre for Econometrics and Applied Research, Ibadan, Nigeria)

Abstract

We offer global evidence on the macroeconomic effects of climate change for a panel of 22 countries classified by economic groupings. We show that: globally, climate change is inflationary; the negative impacts of climate change on the exchange rate markets is only evident in emerging economies; stock markets could hedge natural climate risks but fail to hedge climate risks due to policy uncertainty.

Suggested Citation

  • Idris A. Adediran & Kazeem O. Isah & Ahamuefula E. Ogbonna & Sheriff K. Badmus, 2023. "A Global Analysis of the Macroeconomic Effects of Climate Change," Asian Economics Letters, Asia-Pacific Applied Economics Association, vol. 4(1), pages 1-6.
    • Handle: RePEc:ayb:jrnael:82
    DOI: 2023/03/09
    as

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    Citations

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    Cited by:

    1. Adediran, Idris A. & Swaray, Raymond, 2023. "Carbon trading amidst global uncertainty: The role of policy and geopolitical uncertainty," Economic Modelling, Elsevier, vol. 123(C).
    2. Wang, Chih-Wei & Lee, Chien-Chiang & Wu, Lin-Tan, 2023. "The relationship between cash flow uncertainty and extreme risk: International evidence," Pacific-Basin Finance Journal, Elsevier, vol. 77(C).
    3. Shiyao Zhu & Haibo Feng & Qiuhu Shao, 2023. "Evaluating Urban Flood Resilience within the Social-Economic-Natural Complex Ecosystem: A Case Study of Cities in the Yangtze River Delta," Land, MDPI, vol. 12(6), pages 1-22, June.
    4. Gheorghița Dincă & Ioana-Cătălina Netcu & Asmaa El-Naser, 2023. "Analyzing EU’s Agricultural Sector and Public Spending under Climate Change," Sustainability, MDPI, vol. 16(1), pages 1-23, December.
    5. Irtiqa Malik & Muneeb Ahmed & Yonis Gulzar & Sajad Hassan Baba & Mohammad Shuaib Mir & Arjumand Bano Soomro & Abid Sultan & Osman Elwasila, 2023. "Estimation of the Extent of the Vulnerability of Agriculture to Climate Change Using Analytical and Deep-Learning Methods: A Case Study in Jammu, Kashmir, and Ladakh," Sustainability, MDPI, vol. 15(14), pages 1-25, July.

    More about this item

    Keywords

    Climate change; Macroeconomic effects; Global analysis;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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