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Weather anomalies and comparative advantages in emerging and developing economies: A climate vulnerability assessment

Author

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  • Ojeda-Joya, Jair N.
  • Stellian, Rémi
  • Danna-Buitrago, Jenny P.

Abstract

GDP, income, and employment are commonly identified as sources of climate vulnerability. Given the context of globalization, comparative advantages constitute an additional source of climate vulnerability. This paper proposes a replicable assessment of the exposure and sensitivity dimensions of climate vulnerability through the short-run negative impacts of weather anomalies on comparative advantages in the Global South. Weather anomalies are defined as annual deviations from long-term values in temperature and precipitation. Comparative advantages are measured using enhanced Revealed Comparative Advantage (RCA) indexes based on trade and GDP patterns. RCA indexes and weather anomalies are combined into dynamic panel data models that control for structural and time-varying factors. Estimation relies on a two-step bias-corrected method of moments. Based on a sample of multiple products and countries in 1995-2021, findings show that climate vulnerability affects products beyond agriculture and countries beyond tropical regions, informing product-specific and country-level adaptation strategies in the Global South.

Suggested Citation

  • Ojeda-Joya, Jair N. & Stellian, Rémi & Danna-Buitrago, Jenny P., 2026. "Weather anomalies and comparative advantages in emerging and developing economies: A climate vulnerability assessment," Structural Change and Economic Dynamics, Elsevier, vol. 80(C), pages 149-171.
    • Handle: RePEc:eee:streco:v:80:y:2026:i:c:p:149-171
    DOI: 10.1016/j.strueco.2026.07.003
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    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F18 - International Economics - - Trade - - - Trade and Environment
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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