Millner, Antony; Dietz, Simon - London School of Economics (LSE) - 2015
Developing countries are vulnerable to the adverse effects of climate change, yet there is disagreement about what they … investments in traditional productive capital (which increases output but is vulner- able to climate change), and investments in … adaptive capital (which is unproductive in the absence of climate change, but ‘climate-proofs’ vulnerable capital). We show …