Global temperatures have increased at an unprecedented pace in the past 40 years. This paper finds that increases in temperature have uneven macroeconomic effects, with adverse consequences concentrated in countries with hot climates, such as most low-income countries. In these countries, a rise in temperature lowers per capita output, in both the short and medium term, through a wide array of channels: reduced agricultural output, suppressed productivity of workers exposed to heat, slower investment, and poorer health.
Category: Climate-Informed Fiscal Planning, Climate-Resilient Financial Sector, Align Policies with Paris Agreement, NDC Support and Implementation
The Green Fiscal Policy Network is a joint partnership between UN Environment (UNEP), the International Monetary Fund (IMF) and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) launched in 2011. The Network aims to facilitate knowledge sharing and dialogue on green fiscal policy reforms.
Category: Climate-Informed Fiscal Planning, Climate-Resilient Financial Sector, Align Policies with Paris Agreement, Share Experiences and Expertise, NDC Support and Implementation
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