Global Climate Risk and Economic Growth: Evidence from selected countries

The purpose of this paper is to estimate the relationship between The Global Climate Risk Index (CRI) and economic growth in selected countries around the World. To do so Concentrating on Environmental Kuznets Curve (EKC) hypothesis, we have estimated a panel regression model using the available data during 2004-2008. The Global Climate Risk Index (CRI) developed by Germanwatch deals with the quantified impacts of extreme weather events indicates the average ranking of the countries in four indicators, (i.e. number of deaths, number of deaths per 100 000 inhabitants, sum of losses in US$ in purchasing power parity (PPP) as well as and losses per unit of Gross Domestic Product (GDP) with the countries ranking highest being those most impacted. However, our findings regarding the estimated panel regression analysis during 2004-2008 contradict the normal Kuznets Curve. In other word, we found a U-shaped curve regarding the relationship between global climate risk and economic growth.

کلیدواژه ها:

Global Climate Risk Index (CRI) ، Economic Growth ، Environmental Kuznets Curve (EKC)