Climate change and the public policies to arrest it are and will continue reshaping the global economy. This Discussion Paper draws on economic research to identify some key medium- and long-run economic implications of these developments. It explores implications for growth, innovation,...

Using a panel dataset of six emerging economies from 1990 to 2021, the study analyzed the moderating influence of financial institutions and markets on the deployment of Climate Mitigation Innovation (CMI) and its impact on carbon emissions. Our results from BRIICS countries (i.e. Brazil,...

In this paper we show that temperature is an aggregate risk factor that adversely affects economic growth. Our argument is based on evidence from global capital markets which shows that the covariance between country equity returns and temperature (i.e., temperature betas) contains sharp...