Local Adaptation and Unintended Coastal Vulnerability: The Effect of Beach Nourishment on Residential Development in North Carolina
研究了1994至2013年间北卡罗来纳州海岸地区的气候风险与局部适应投资（海滩补沙）如何影响住宅开发模式，发现补沙投资意外地加速了脆弱地区的开发，增加了长期适应气候变化的难度。
As climate change threatens to exacerbate coastal erosion and storm risk, understanding the impact of increasing risk and adaptation investments is crucial for effective long-term coastal management. We examine risk exposure of coastal communities using a supply-side analysis of nearshore residential development. We develop a duration model to examine the effects of climate risk and local adaptation investments on the pattern of residential development in coastal North Carolina between 1994 and 2013. Using a control function approach to address endogeneity in adaptation, we find that investment in beach re-nourishment increases the likelihood of coastal development, resulting in unintended acceleration of development in vulnerable locations. Our findings suggest caution in developing policies that combat coastal risk in isolation. As investments in built capital stock are often irreversible, faster development, which increases the value of built capital at risk, is likely to constrain future efforts to adapt to climate change.