We Are All In The Same Boat Cross Border Spillovers Of Climate Risk Through International Trade And Supply Chain

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We Are All in the Same Boat: Cross-Border Spillovers of Climate Risk through International Trade and Supply Chain

Alan Feng,Haishi Li
We Are All in the Same Boat Cross Border Spillovers of Climate Risk through International Trade and Supply Chain Book PDF

Author : Alan Feng,Haishi Li
Publisher : International Monetary Fund
Page : 57 pages
File Size : 47,5 Mb
Release : 2021-01-22
Category : Business & Economics
ISBN : 9781513564586

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We Are All in the Same Boat: Cross-Border Spillovers of Climate Risk through International Trade and Supply Chain by Alan Feng,Haishi Li Pdf

Are assets in a landlocked country subject to sea-level rise risk? In this paper, we study the cross-border spillovers of physical climate risks through international trade and supply chain linkages. As we base our findings on historical data between 1970 and 2018, we observe that globalization increased the similarity of countries’ global climate risk exposures. Exposures to foreign climatic disasters in major trade partner countries (both upstream and downstream) lower the home-country stock market valuation for the aggregate market and for the tradable sectors. We also find that exposures to foreign long-term climate change risks reduce the asset price valuations of the tradable sectors at home. Findings in this paper suggest that climate adaptation efforts in a country can have positive externalities on other countries’ macrofinancial performance and stability through international trade.

We are All in the Same Boat

Alan Feng,Haishi Li,Yulin Wang
We are All in the Same Boat Book PDF

Author : Alan Feng,Haishi Li,Yulin Wang
Publisher : Unknown
Page : 0 pages
File Size : 53,9 Mb
Release : 2023
Category : Electronic
ISBN : OCLC:1378782918

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We are All in the Same Boat by Alan Feng,Haishi Li,Yulin Wang Pdf

Are land locked countries subject to sea-level rise risk? We highlight a new mechanism by which physical climate shocks affects countries' macro-financial performance: the cross-border spillover effects that propagate through international trade. Basing our findings on historical data between 1970 and 2019, we find that climate disasters that strike the transport infrastructure - ports - decrease the affected country's imports and exports and reduce economic output in major trade partner (both upstream and downstream) countries. Climate disasters reduce stock market returns in the aggregate market and tradable sectors of the major trade partner countries. Exposures to foreign long-term climate change risks reduce the asset price valuations of the tradable sectors at home. As a result, climate adaptation efforts in one country can have a positive impact on macro-financial performance and stability in other countries through international trade.

Cross-Border Risks of a Global Economy in Mid-Transition

Etienne Espagne,William Oman,Jean-François Mercure,Romain Svartzman,Ulrich Volz,Hector Pollitt,Gregor Semieniuk,Emanuele Campiglio
Cross Border Risks of a Global Economy in Mid Transition Book PDF

Author : Etienne Espagne,William Oman,Jean-François Mercure,Romain Svartzman,Ulrich Volz,Hector Pollitt,Gregor Semieniuk,Emanuele Campiglio
Publisher : International Monetary Fund
Page : 57 pages
File Size : 54,6 Mb
Release : 2023-09-08
Category : Business & Economics
ISBN : 9798400254550

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Cross-Border Risks of a Global Economy in Mid-Transition by Etienne Espagne,William Oman,Jean-François Mercure,Romain Svartzman,Ulrich Volz,Hector Pollitt,Gregor Semieniuk,Emanuele Campiglio Pdf

This paper analyzes the cross-border risks that could result from a decarbonization of the world economy. We develop a typology of cross-border risks and their respective channels. Our qualitative and quantitative scenario analysis suggests that the mid-transition – a period during which fossil-fuel and low-carbon energy systems co-exist and transform at a rapid pace – could have profound stability and resilience implications for global trade and the international financial system.

Climate Change and Energy Security: The Dilemma Or Opportunity of the Century?

Mr. Serhan Cevik
Climate Change and Energy Security The Dilemma Or Opportunity of the Century Book PDF

Author : Mr. Serhan Cevik
Publisher : International Monetary Fund
Page : 20 pages
File Size : 41,9 Mb
Release : 2022-09-09
Category : Business & Economics
ISBN : 9798400218347

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Climate Change and Energy Security: The Dilemma Or Opportunity of the Century? by Mr. Serhan Cevik Pdf

This paper investigates the connection between climate change and energy security in Europe and provides empirical evidence that these issues are the two faces of the same coin. Using a panel of 39 countries in Europe over the period 1980–2019, the empirical analysis presented in this paper indicates that increasing the share of nuclear, renewables, and other non-hydrocarbon energy and improving energy efficiency could lead to a significant reduction in carbon emissions and improve energy security throughout Europe. Accordingly, policies and reforms aimed at shifting away from hydrocarbons and increasing energy efficiency in distribution and consumption are key to mitigating climate change, reducing energy dependence, and minimizing exposure to energy price volatility.

Mobilizing Private Climate Financing in Emerging Market and Developing Economies

Mr. Ananthakrishnan Prasad,Ms. Elena Loukoianova,Alan Xiaochen Feng,William Oman
Mobilizing Private Climate Financing in Emerging Market and Developing Economies Book PDF

Author : Mr. Ananthakrishnan Prasad,Ms. Elena Loukoianova,Alan Xiaochen Feng,William Oman
Publisher : International Monetary Fund
Page : 41 pages
File Size : 48,5 Mb
Release : 2022-07-27
Category : Business & Economics
ISBN : 9798400216428

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Mobilizing Private Climate Financing in Emerging Market and Developing Economies by Mr. Ananthakrishnan Prasad,Ms. Elena Loukoianova,Alan Xiaochen Feng,William Oman Pdf

Global investment to achieve the Paris Agreement’s temperature and adaptation goals requires immediate actions—first and foremost—on climate policies. Policies should be accompanied by commensurate financing flows to close the large financing gap globally, and in emerging market and developing economies (EMDEs) in particular. This note discusses potential ways to mobilize domestic and foreign private sector capital in climate finance, as a complement to climate-related policies, by mitigating relevant risks and constraints through public-private partnerships involving multilateral, regional, and national development banks. It also overviews the role the IMF can play in the process.

Economic Principles for Integrating Adaptation to Climate Change Into Fiscal Policy

Mr. Matthieu Bellon,Emanuele Massetti
Economic Principles for Integrating Adaptation to Climate Change Into Fiscal Policy Book PDF

Author : Mr. Matthieu Bellon,Emanuele Massetti
Publisher : International Monetary Fund
Page : 34 pages
File Size : 44,7 Mb
Release : 2022-03-23
Category : Business & Economics
ISBN : 9781513592374

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Economic Principles for Integrating Adaptation to Climate Change Into Fiscal Policy by Mr. Matthieu Bellon,Emanuele Massetti Pdf

Adaptation to climate change is a necessity for advanced and developing economies alike. Policymakers face the challenge of facilitating this transition. This Note argues that adaptation to climate change should be part of a holistic development strategy involving both private and public sector responses. Governments can prioritize public investment in adaptation programs with positive externalities, address market imperfections and policies that make private adaptation inefficient, and mobilize revenues for, and distribute the benefits of, adaptation. Although the choice of what should be done and at what cost ultimately depends on each society’s preferences, economic theory provides a useful framework to maximize the impact of public spending. Cost-benefit analysis, complemented by the analysis of distributional effects, can be used to prioritize adaptation programs as well as all other development programs to promote an efficient and just transition to a changed climate. While compensations may be needed to offset damages that are either impossible or too expensive to abate, subsidies for adaptation require careful calibration to prevent excessive risk taking.

Sectoral Impact and Propagation of Weather Shocks

Guglielmo Zappalà
Sectoral Impact and Propagation of Weather Shocks Book PDF

Author : Guglielmo Zappalà
Publisher : International Monetary Fund
Page : 85 pages
File Size : 40,8 Mb
Release : 2023-03-10
Category : Business & Economics
ISBN : 9798400236518

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Sectoral Impact and Propagation of Weather Shocks by Guglielmo Zappalà Pdf

Local weather shocks have been shown to affect local economic output, however, little is known about their propagation through production networks. Using a six-sector global dataset over the past fifty years, this paper examines the effect of weather fluctuations and extreme weather events on sectoral economic production and the transmission of weather shocks across sectors, countries and over time. I document that agriculture is the most harmed sector by heat shocks, droughts and cyclones. Using input-output interlinkages, I find that sectors at later stages of the supply chain suffer from substantial and persistent losses over time due to domestic and foreign heat shocks in other sectors. A counterfactual analysis of the average annual output loss accounting for heat shocks across trade partners shows a substantial underestimation of the economic cost of temperature increases since 2000.

Ecuador: Selected Issues

International Monetary,International Monetary Fund. Western Hemisphere Dept.
Ecuador Selected Issues Book PDF

Author : International Monetary,International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 52 pages
File Size : 52,7 Mb
Release : 2021-10-07
Category : Business & Economics
ISBN : 9781513599274

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Ecuador: Selected Issues by International Monetary,International Monetary Fund. Western Hemisphere Dept. Pdf

Selected Issues

The Role of Trade in Ending Poverty

World Bank Group,World Trade Organization
The Role of Trade in Ending Poverty Book PDF

Author : World Bank Group,World Trade Organization
Publisher : Unknown
Page : 0 pages
File Size : 54,8 Mb
Release : 2015
Category : Political Science
ISBN : 9287040133

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The Role of Trade in Ending Poverty by World Bank Group,World Trade Organization Pdf

Trade will have an important role at the global level in generating the growth necessary for reducing extreme poverty to 3 percent and boosting prosperity for the poorest 40 percent by 2030. To identify the most important challenges that exist in maximizing the positive impact of trade on poverty, we need to understand who the poor are, where they are, and what economic activities they undertake. To this end, the study highlights particularly relevant dimensions of poverty: rural poverty in remote areas, informality, fragile and conflict situations, and women. For each of these issues, this study considers the main traderelated barriers and challenges, along with policy responses to address them. It shows the importance of the multilateral trading system and of the Doha Round, as well as the important role of the WBG and WTO in promoting coherence and implementing trade policies in a way that delivers the greatest possible benefits for the poor.

Globalization, Growth, and Poverty

Paul Collier,David Dollar
Globalization Growth and Poverty Book PDF

Author : Paul Collier,David Dollar
Publisher : World Bank Publications
Page : 200 pages
File Size : 44,6 Mb
Release : 2002
Category : Business & Economics
ISBN : 082135048X

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Globalization, Growth, and Poverty by Paul Collier,David Dollar Pdf

Globalization - the growing integration of economies and societies around the world, is a complex process. The focus of this research is the impact of economic integration on developing countries and especially the poor people living in these countries. Whether economic integration supports poverty reduction and how it can do so more effectively are key questions asked. The research yields 3 main findings with bearings on current policy debates about globalization. Firstly, poor countries with some 3 billion people have broken into the global market for manufactures and services, and this successful integration has generally supported poverty reduction. Secondly, inclusion both across countries and within them is important as a number of countries (pop. 2 billion) are failing as states, trading less and less, and becoming marginal to the world economy. Thirdly, standardization or homogenization is a concern - will economic integration lead to cultural or institutional homogenization?

Global Trends 2030

National Intelligence Council
Global Trends 2030 Book PDF

Author : National Intelligence Council
Publisher : Cosimo Reports
Page : 0 pages
File Size : 45,8 Mb
Release : 2018-02-07
Category : Electronic
ISBN : 1646797728

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Global Trends 2030 by National Intelligence Council Pdf

This important report, Global Trends 2030-Alternative Worlds, released in 2012 by the U.S. National Intelligence Council, describes megatrends and potential game changers for the next decades. Among the megatrends, it analyzes: - increased individual empowerment - the diffusion of power among states and the ascent of a networked multi-polar world - a world's population growing to 8.3 billion people, of which sixty percent will live in urbanized areas, and surging cross-border migration - expanding demand for food, water, and energy It furthermore describes potential game changers, including: - a global economy that could thrive or collapse - increased global insecurity due to regional instability in the Middle East and South Asia - new technologies that could solve the problems caused by the megatrends - the possibility, but by no means the certainty, that the U.S. with new partners will reinvent the international system Students of trends, forward-looking entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades will find this essential reading.

Financial Crises Explanations, Types, and Implications

Mr.Stijn Claessens,Mr.Ayhan Kose
Financial Crises Explanations Types and Implications Book PDF

Author : Mr.Stijn Claessens,Mr.Ayhan Kose
Publisher : International Monetary Fund
Page : 66 pages
File Size : 54,7 Mb
Release : 2013-01-30
Category : Business & Economics
ISBN : 9781475561005

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Financial Crises Explanations, Types, and Implications by Mr.Stijn Claessens,Mr.Ayhan Kose Pdf

This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.

Special Economic Zones in Africa

Thomas Farole
Special Economic Zones in Africa Book PDF

Author : Thomas Farole
Publisher : World Bank Publications
Page : 328 pages
File Size : 43,8 Mb
Release : 2011-01-01
Category : Business & Economics
ISBN : 9780821386392

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Special Economic Zones in Africa by Thomas Farole Pdf

"This book, designed for policymakers, academics and researchers, and SEZ program practitioners, provides the first systematic and comprehensive analysis of SEZ programs in Sub-Saharan Africa. It is the result of detailed surveys and case studies conducted during 2009 in ten developing countries, including six in Sub-Saharan Africa. The book provides quantitative evidence of the performance of SEZs, and of the factors which contribute to that performance, highlighting the critical importance not just of the SEZ itself but of the wider national investment climate in which it functions. It also provides a comprehensive guide to the key policy questions that confront governments establishing SEZ programs, including: if and when to launch an SEZ program, what form of SEZ is most appropriate, and how to go about implementing it. Among the most important findings from the study that is stressed in the book is the shift from traditional enclave models of zones to SEZs that are integrated ? with national trade and industrial strategies, with core trade and social infrastructure, with domestic suppliers, and with local labor markets.Although the book focuses primarily on the experience of Sub-Saharan Africa, its lessons will be applicable to developing countries around the world."

Finance & Development, September 2014

International Monetary Fund. External Relations Dept.
Finance Development September 2014 Book PDF

Author : International Monetary Fund. External Relations Dept.
Publisher : International Monetary Fund
Page : 60 pages
File Size : 45,6 Mb
Release : 2014-08-25
Category : Business & Economics
ISBN : 9781475566987

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Finance & Development, September 2014 by International Monetary Fund. External Relations Dept. Pdf

This chapter discusses various past and future aspects of the global economy. There has been a huge transformation of the global economy in the last several years. Articles on the future of energy in the global economy by Jeffrey Ball and on measuring inequality by Jonathan Ostry and Andrew Berg are also illustrated. Since the 2008 global crisis, global economists must change the way they look at the world.

How Has Nafta Affected the Mexican Economy? Review and Evidence

Mr.Ayhan Kose,Mr.Guy Meredith,Mr.Christopher M. Towe
How Has Nafta Affected the Mexican Economy Review and Evidence Book PDF

Author : Mr.Ayhan Kose,Mr.Guy Meredith,Mr.Christopher M. Towe
Publisher : International Monetary Fund
Page : 50 pages
File Size : 43,9 Mb
Release : 2004-04-01
Category : Business & Economics
ISBN : 9781451847970

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How Has Nafta Affected the Mexican Economy? Review and Evidence by Mr.Ayhan Kose,Mr.Guy Meredith,Mr.Christopher M. Towe Pdf

This paper provides a comprehensive assessment of the impact of NAFTA on growth and business cycles in Mexico. The effect of the agreement in spurring a dramatic increase in trade and financial flows between Mexico and its NAFTA partners, and its impact on Mexican economic growth and business cycle dynamics, are documented with reference both to stylized facts and recent empirical research. The paper concludes by drawing lessons from Mexico's NAFTA experience for policymakers in developing countries. The foremost of these is that in an increasingly globalized trading system, bilateral and regional free trade arrangements should be used to accelerate, rather than postpone, needed structural reform.