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Climate and Output in Low-Income Countries

October 6, 2019

Adaptive policies like building codes that are more hazard-resistant help countries better handle weather shocks. (iStock by Getty Images)

As the average annual global temperature is expected to rise by 4 degrees Celsius or more by 2100, economic output in countries with hot climates continues to fall. And given that most low-income countries are located in hot regions, low-income countries are bearing the brunt of the negative economic costs of climate change even though they contribute very little to the greenhouse gas emissions that cause it. In this podcast, IMF economists Sebastian Acevedo and Natalija Novta say the increasing frequency and severity of natural disasters is having a negative impact on growth.

Acevedo and Novta are coauthors of Weather Shocks and Output in Low-Income Countries:Adaptation and the Role of Policies

Natalija Novta is an economist in the IMF’s Research Department, and Sebastian Acevedo is an economist in the African Department.