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Impacts of Paris Agreement on Russian economy

Author

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  • I. A. Makarov
  • H. Chen
  • S. V. Paltsev

Abstract

The paper applies multiregional CGE Economic Policy Projection and Analysis (EPPA) model to analyze major risks the Paris Agreement on climate change adopted in 2015 brings to Russia. The authors come to the conclusion that if parties of the Agreement meet their targets that were set for 2030 it may lead to the decrease of average annual GDP growth rates by 0.2-0.3 p. p. Stricter climate policies beyond this year would bring GDP growth rates reduction in2035-2050 by additional 0.5 p. p. If Russia doesn’t ratify Paris Agreement, these losses may increase. In order to mitigate these risks, diversification of Russian economy is required.

Suggested Citation

  • I. A. Makarov & H. Chen & S. V. Paltsev, 2018. "Impacts of Paris Agreement on Russian economy," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 4.
    • Handle: RePEc:nos:voprec:y:2018:id:394
    DOI: 10.32609/0042-8736-2018-4-76-94
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    Cited by:

    1. Mikhail Andreyev & Alyona Nelyubina, 2024. "Energy transition scenarios in Russia: effects in macroeconomic general equilibrium model with rational expectations," Bank of Russia Working Paper Series wps122, Bank of Russia.
    2. Yulia D. Sokolova, 2023. "Modeling of the Nexus Between Environmental Regulations of Trade Partners and Export Volumes: Analysis of Russian Regions," Journal of Applied Economic Research, Graduate School of Economics and Management, Ural Federal University, vol. 22(4), pages 975-1005.

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