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Feeling The Heat: Financial Crises And Their Impact On Global Climate Change

  • VINCENTAS GIEDRAITIS

    (Department of Theoretical Economics Vilnius University, Lithuania)

  • SARUNAS GIRDENAS

    (Department of Sociology,Vilnius University)

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    This interdisciplinary paper uses world-systems analysis as a theoretical framework to argue that both the 1870s, 1930’s economic depressions reduced mean global temperatures. As global consumer demand fell, factories worldwide began producing less commodities and, as a result, emitted less greenhouse gasses. We find that in both instances there is evidence to support the hypothesis that financial crises lead to cooler temperatures.

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    Article provided by Prague Development Center in its journal Perspectives of Innovation in Economics and Business (PIEB).

    Volume (Year): 4 (2010)
    Issue (Month): 1 (February)
    Pages: 7-10

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    Handle: RePEc:pdc:jrpieb:v:4:y:2010:i:1:p:7-10
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    1. Robert T. Deacon & Catherine S. Norman, 2006. "Does the Environmental Kuznets Curve Describe How Individual Countries Behave?," Land Economics, University of Wisconsin Press, vol. 82(2), pages 291-315.
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