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Evaluating Climate Change Vulnerabilities In The Asean Service Sector

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Listed:
  • INGUL BAEK

    (Department of Economics, Kongju National University, Gongju-si, Chungcheongnam-do 32588, Republic of Korea)

  • SEON-YONG KIM

    (Department of Gas Policy Research, Korea Energy Economics Institute, 405-11 Jongga-ro, Jung-gu, Ulsan 44543, Republic of Korea)

  • KYUNGSIK NAM

    (Division of Climate Change, Hankuk University of Foreign Studies, Yongin-si 17035, Gyeonggi-do, Republic of Korea)

Abstract

This study analyzes the impact of climate change on the service sector in ASEAN economies, using a 40-year panel dataset covering 21 Asia-Pacific countries. Focusing on temperature and precipitation anomalies, we estimate fixed-effects regressions with linear and nonlinear specifications. A sector-wide result shows a significant negative loading on temperature, while precipitation remains insignificant. Sub-sector estimates uncover sharp heterogeneity: Wholesale & Retail Trade, Hotels & Restaurants and Transport, Storage & Communications display robust negative first-order temperature components; Financial & Real Estate exhibits a weak concave response; Community, Social & Personal Services show no discernible effect. These results imply differentiated adaptation priorities. Policymakers should channel resources toward heat-resilient retail, logistics and tourism operations, while monitoring and incremental digitization suffice for the currently less-sensitive service sectors.

Suggested Citation

  • Ingul Baek & Seon-Yong Kim & Kyungsik Nam, 2025. "Evaluating Climate Change Vulnerabilities In The Asean Service Sector," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 16(04), pages 1-19, November.
    • Handle: RePEc:wsi:ccexxx:v:16:y:2025:i:04:n:s2010007825500149
    DOI: 10.1142/S2010007825500149
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