Climate change is already a systemic risk to the global economy. While there is a large body of literature documenting potential economic consequences, there is scarce research on the link between climate change and sovereign risk. This paper therefore investigates the impact of climate change...

This paper examines the impacts of climate shocks on international trade in China. We find that there are substantial climate effects on exports but only little impacts on imports. Poorer, warmer and non-coastal cities suffer more from a warming climate