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The economic impact of climate in the long run
chapterposted on 2023-06-10, 06:48 authored by Richard TolRichard Tol
Early scholars were convinced that geography is destiny and that climate determines the human condition. Current economists by and large argue that institutions are destiny, and that the only thing that matters to humans is other human beings. Neither position is tenable. I review the literature and present new empirical evidence that shows that climate does have a significant effect on development, that this effect is mediated by institutions, and that the effect shrinks with affluence.
Book titleClimate and Development
Department affiliated with
- Economics Publications
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