Climate Change and Uneven Development*
通过一个内生化资本折旧的理论模型，研究气候变化及其适应对长期发展的影响，发现贫困国家因气候暴露度高、适应效率低而受损更重，可能陷入增长赤字和不可持续陷阱。
Abstract In this paper, using a theoretical model with endogenous capital depreciation, we study the effects of climate change and adaptation on long‐run development. We show that climate change affects economic growth depending on climate exposure and adaptation efficiency, which are asymmetric between different countries. Poor countries are likely to be hurt more, because of the negative effects of climate change on the rate of depreciation of the assets that represent the engine of growth. These asymmetries generally induce growth deficits and unsustainability traps in less‐developed economies.