The adverse consequences of global harvest and weather disruptions on economic activity
Jasmien De Winne and
Gert Peersman ()
Nature Climate Change, 2021, vol. 11, issue 8, 665-672
Abstract Extreme weather events are expected to increase with climate change. Such events are detrimental for local economic activity but could also affect countries that are not directly exposed through global agricultural production shortfalls and price surges. Here, estimations for 75 countries show that increases in global agricultural commodity prices caused by harvest or weather disruptions in other regions of the world significantly curtail economic activity. The impact is considerably stronger in advanced countries, despite relatively lower shares of food in household expenditures. Effects are weaker when countries are net exporters of agricultural products, have large agricultural sectors and/or are less integrated in global markets for non-agricultural trade. Once we control for these characteristics, the relationship between the country’s income per capita and the economic repercussions becomes negative. Overall, these findings suggest that the consequences of climate change on advanced countries, particularly through food prices, may be larger than previously thought.
References: Add references at CitEc
Citations: View citations in EconPapers (8) Track citations by RSS feed
Downloads: (external link)
https://www.nature.com/articles/s41558-021-01102-w Abstract (text/html)
Access to the full text of the articles in this series is restricted.
Working Paper: THE ADVERSE CONSEQUENCES OF GLOBAL HARVEST AND WEATHER DISRUPTIONS ON ECONOMIC ACTIVITY (2021)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:nat:natcli:v:11:y:2021:i:8:d:10.1038_s41558-021-01102-w
Ordering information: This journal article can be ordered from
Access Statistics for this article
Nature Climate Change is currently edited by Bronwyn Wake
More articles in Nature Climate Change from Nature
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().