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Climate Risk and Financial Instability in Asia-Pacific

Author

Listed:
  • Emeka Okoro Akpa
  • Afees Idowu Olayiwola
  • Chigozie Mark Anthony Abuta
  • Sheriff Badmus

    (Centre for Econometrics and Applied Research, Nigeria)

Abstract

In this study, we estimate the effect of climate risk on financial instability in a panel of four developed Asia-Pacific countries from 2001Q1 to 2020Q4. The empirical results show that climate risk leads to a reduction in financial instability, but not significantly. This effect becomes more significant when mean deviation is used as a measure of financial instability.

Suggested Citation

  • Emeka Okoro Akpa & Afees Idowu Olayiwola & Chigozie Mark Anthony Abuta & Sheriff Badmus, 2024. "Climate Risk and Financial Instability in Asia-Pacific," Asian Economics Letters, Asia-Pacific Applied Economics Association, vol. 4(3), pages 1-4.
    • Handle: RePEc:ayb:jrnael:106
    DOI: 2024/07/01
    as

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    More about this item

    Keywords

    Climate risk; Financial instability; Asia-Pacific; Random effects;
    All these keywords.

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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