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The Economic Impacts of Global Warming on Agriculture: the Role of Adaptation

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  • Kaixing Huang

    (School of Economics, University of Adelaide.)

Abstract

Studies of climate change impacts on agricultural profits using panel data typically do not take account of adaptations over time by farmers, and those that do tend to use the standard hedonic approach which is potentially biased. As an alternative, this paper develops a panel framework that includes farmer adaptation. When tested with United States data, this study finds that the negative impact of expected climate change on farm profits by 2100 is only one-third as large once likely adaptation by farmers is taken into account.

Suggested Citation

  • Kaixing Huang, 2015. "The Economic Impacts of Global Warming on Agriculture: the Role of Adaptation," School of Economics Working Papers 2015-20, University of Adelaide, School of Economics.
  • Handle: RePEc:adl:wpaper:2015-20
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    File URL: https://economics.adelaide.edu.au/research/papers/doc/wp2015-20.pdf
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    Cited by:

    1. Huang, Kaixing & Wang, Jinxia & Huang, Jikun & Findlay, Christopher, 2018. "The potential benefits of agricultural adaptation to warming in China in the long run," Environment and Development Economics, Cambridge University Press, vol. 23(2), pages 139-160, April.

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    More about this item

    JEL classification:

    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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