Developing countries
| Variables | (1) | (2) | (3) | (4) | (5) |
|---|---|---|---|---|---|
| Climate risk | Industrialisation | Industry growth | Economic development | Economic growth | |
| Carbon emission | −1.983 (−0.673) | ||||
| Climate risk | −0.019** (−2.062) | −0.028* (−1.959) | −0.023** (−2.381) | −0.008** (−2.331) | |
| Economic development | 1.822 (0.443) | 5.154*** (3.840) | −1.074 (−0.910) | ||
| Economic growth | −0.264** (−1.992) | 0.036 (1.471) | 1.677*** (15.557) | ||
| International trade | 0.045*** (2.664) | 0.021 (0.582) | −0.004*** (−5.532) | 0.025** (2.254) | |
| Foreign direct investment | 0.003 (0.347) | −0.010 (−0.640) | −0.000* (−1.729) | −0.008 (−1.500) | |
| Population | −19.114 (−1.207) | 11.385** (2.292) | 1.067 (0.327) | −0.614*** (−3.194) | −4.857 (−1.596) |
| Urban population | −0.115 (−0.168) | −0.110 (−0.839) | −0.190 (−1.170) | 0.006 (0.806) | 0.052 (0.686) |
| Population growth | 0.179 (0.329) | 0.075 (0.791) | −0.211 (−0.683) | 0.012 (1.565) | −0.131 (−0.336) |
| Natural resources | −0.088 (−0.531) | 0.455*** (5.204) | −0.072 (−0.959) | −0.004 (−1.261) | 0.032 (0.644) |
| Institutional quality | 4.052* (1.769) | −2.853* (−1.821) | 0.304*** (4.598) | 0.786 (0.545) | |
| Industrialisation | −0.387** (−2.026) | 0.016*** (6.113) | 0.180*** (3.055) | ||
| Industry growth | 0.128** (2.281) | ||||
| Constant | 391.217 (1.594) | −272.146*** (−3.177) | 10.237 (0.191) | 16.938*** (5.892) | 74.129 (1.589) |
| Year effect | Yes | Yes | Yes | Yes | Yes |
| Observations | 1,715 | 1,526 | 1,513 | 1,527 | 1,526 |
| R-squared | 0.045 | 0.477 | 0.580 | 0.629 | 0.105 |
| Number of countries | 129 | 118 | 117 | 118 | 118 |
| Variables | (1) | (2) | (3) | (4) | (5) |
|---|---|---|---|---|---|
| Climate risk | Industrialisation | Industry growth | Economic development | Economic growth | |
| Carbon emission | −1.983 (−0.673) | ||||
| Climate risk | −0.019 | −0.028 | −0.023 | −0.008 | |
| Economic development | 1.822 (0.443) | 5.154 | −1.074 (−0.910) | ||
| Economic growth | −0.264 | 0.036 (1.471) | 1.677 | ||
| International trade | 0.045 | 0.021 (0.582) | −0.004 | 0.025 | |
| Foreign direct investment | 0.003 (0.347) | −0.010 (−0.640) | −0.000 | −0.008 (−1.500) | |
| Population | −19.114 (−1.207) | 11.385 | 1.067 (0.327) | −0.614 | −4.857 (−1.596) |
| Urban population | −0.115 (−0.168) | −0.110 (−0.839) | −0.190 (−1.170) | 0.006 (0.806) | 0.052 (0.686) |
| Population growth | 0.179 (0.329) | 0.075 (0.791) | −0.211 (−0.683) | 0.012 (1.565) | −0.131 (−0.336) |
| Natural resources | −0.088 (−0.531) | 0.455 | −0.072 (−0.959) | −0.004 (−1.261) | 0.032 (0.644) |
| Institutional quality | 4.052 | −2.853 | 0.304 | 0.786 (0.545) | |
| Industrialisation | −0.387 | 0.016 | 0.180 | ||
| Industry growth | 0.128 | ||||
| Constant | 391.217 (1.594) | −272.146 | 10.237 (0.191) | 16.938 | 74.129 (1.589) |
| Year effect | Yes | Yes | Yes | Yes | Yes |
| Observations | 1,715 | 1,526 | 1,513 | 1,527 | 1,526 |
| 0.045 | 0.477 | 0.580 | 0.629 | 0.105 | |
| Number of countries | 129 | 118 | 117 | 118 | 118 |
This table presents the baseline estimations of the relationship between climate risk and economic outcomes in developing countries. Robust t-statistics are given in parentheses: ***p < 0.01; **p <0.05; *p < 0.1. Variable definitions and sources are presented in Table 1