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The Role of Economic Policy in Climate Change Adaptation

Author

Listed:
  • Konrad, Kai A.
  • Thum, Marcel

Abstract

This article assesses the role of the public sector in adaptation to climate change. We first offer a definition and categorization of climate change adaptation. We then consider the primary economic principles that can guide the assignment of adaptation tasks to either the private or the public sector, as well as those guiding assignment within the public sector itself. We find that the role of the state in adaptation policy is limited. We identify information policy, the provision of a suitable regulatory framework in some markets, the formation of human capital and policies fostering economic growth, as well as technological and medical knowledge as the main areas in which the public sector has a role in climate change adaptation. (JEL classification numbers: H54, Q54, Q58)

Suggested Citation

  • Konrad, Kai A. & Thum, Marcel, 2014. "The Role of Economic Policy in Climate Change Adaptation," Munich Reprints in Economics 22181, University of Munich, Department of Economics.
    • Handle: RePEc:lmu:muenar:22181
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    Cited by:

    1. Aronsson, Thomas & Schöb, Ronnie, 2018. "Climate change and psychological adaptation: A behavioral environmental economics approach," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 74(C), pages 79-84.
    2. Bongole, Abiud J., . "Welfare Effects of Farming Household' Usage of Combination of Climate Smart Agriculture Practises in the Southern Highlands of Tanzania," African Journal of Economic Review, African Journal of Economic Review, vol. 10(2).
    3. Zemel, Amos, 2015. "Adaptation, mitigation and risk: An analytic approach," Journal of Economic Dynamics and Control, Elsevier, vol. 51(C), pages 133-147.
    4. Väinö Nurmi & Karoliina Pilli-Sihvola & Hilppa Gregow & Adriaan Perrels, 2019. "Overadaptation to Climate Change? The Case of the 2013 Finnish Electricity Market Act," Economics of Disasters and Climate Change, Springer, vol. 3(2), pages 161-190, July.
    5. Mark C. Freeman & Ben Groom & Richard Zeckhauser, 2015. "Better Predictions, Better Allocations: Scientific Advances and Adaptation to Climate Change," NBER Working Papers 21463, National Bureau of Economic Research, Inc.
    6. Johannes Klein & Sirkku Juhola & Mia Landauer, 2017. "Local authorities and the engagement of private actors in climate change adaptation," Environment and Planning C, , vol. 35(6), pages 1055-1074, September.
    7. Richard Twine, 2021. "Emissions from Animal Agriculture—16.5% Is the New Minimum Figure," Sustainability, MDPI, vol. 13(11), pages 1-8, June.
    8. Kahn, Matthew E. & Kok, Nils & Quigley, John M., 2014. "Carbon emissions from the commercial building sector: The role of climate, quality, and incentives," Journal of Public Economics, Elsevier, vol. 113(C), pages 1-12.
    9. Müller-Fürstenberger, Georg & Schumacher, Ingmar, 2015. "Insurance and climate-driven extreme events," Journal of Economic Dynamics and Control, Elsevier, vol. 54(C), pages 59-73.
    10. Chloe H. Lucas & Kate I. Booth, 2020. "Privatizing climate adaptation: How insurance weakens solidaristic and collective disaster recovery," Wiley Interdisciplinary Reviews: Climate Change, John Wiley & Sons, vol. 11(6), November.
    11. Oberlack, Christoph & Neumärker, Bernhard, 2013. "A diagnostic approach to the institutional analysis of climate adaptation," The Constitutional Economics Network Working Papers 01-2013, University of Freiburg, Department of Economic Policy and Constitutional Economic Theory.

    More about this item

    JEL classification:

    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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