Climate Impacts on Capital Accumulation in the Small Island State of Barbados
| Autor: | Jonathan R. Lamontagne, Crystal Drakes, Eric Kemp-Benedict, Timothy Laing |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2019 |
| Předmět: |
Return period
010504 meteorology & atmospheric sciences Natural resource economics tropical cyclone Geography Planning and Development lcsh:TJ807-830 lcsh:Renewable energy sources Climate change adaptation Management Monitoring Policy and Law return period 01 natural sciences Capital accumulation 0502 economics and business Economics 050207 economics loss and damage lcsh:Environmental sciences 0105 earth and related environmental sciences lcsh:GE1-350 damage function Renewable Energy Sustainability and the Environment lcsh:Environmental effects of industries and plants 05 social sciences Loss and damage climate change lcsh:TD194-195 Anticipation (artificial intelligence) Capital (economics) Tropical cyclone Small Island Developing States |
| Zdroj: | Sustainability, Vol 11, Iss 11, p 3192 (2019) Sustainability Volume 11 Issue 11 |
| ISSN: | 2071-1050 |
| Popis: | This paper constructs a model of climate-related damage for small island developing states (SIDS). We focus on the loss of private productive capital stocks through extreme climate events. In contrast to most economic analyses of climate impacts, which assume temperature-dependent damage functions, we draw on the engineering literature to allow for a greater or lesser degree of anticipation of climate change when designing capital stocks and balancing current adaptation expenditure against future loss and damage. We apply the model to tropical storm damage in the small island developing state of Barbados and show how anticipatory behavior changes the damage to infrastructure for the same degree of climate change. Thus, in the model, damage depends on behavior as well as climate variables. |
| Databáze: | OpenAIRE |
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