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Role of market agents in mitigating the climate change effects on food economy

Author

Listed:
  • Wei Xie

    (Peking University)

  • Qi Cui

    (Beijing Normal University)

  • Tariq Ali

    (North China University of Technology)

Abstract

Agriculture’s ability to adapt to the impacts of climate change is critical for agricultural households as well as the general public and policymakers. Economic agents can play a vital role in adapting to climate disasters. We use a global computable general economic model (GTAP) to assess the role of the domestic market and international trade in mitigating agriculure production losses due to climate change, taking barley as an example. Our results suggest that under the worst-case scenario of extreme events, the domestic and international market imperfections would cause the losses in domestic supply for barley importers to increase by 3.5% and 0.6%, respectively. We conclude that policies aimed at integrating the markets can also effectively act as adaptation measures for climate change.

Suggested Citation

  • Wei Xie & Qi Cui & Tariq Ali, 2019. "Role of market agents in mitigating the climate change effects on food economy," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 99(3), pages 1215-1231, December.
    • Handle: RePEc:spr:nathaz:v:99:y:2019:i:3:d:10.1007_s11069-019-03646-9
    DOI: 10.1007/s11069-019-03646-9
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    Cited by:

    1. Bednar-Friedl, Birgit & Knittel, Nina & Raich, Joachim & Adams, Kevin M., 2022. "Adaptation to transboundary climate risks in trade: investigating actors and strategies for an emerging challenge," LSE Research Online Documents on Economics 113693, London School of Economics and Political Science, LSE Library.
    2. Yoji Kunimitsu & Gen Sakurai & Toshichika Iizumi, 2020. "Systemic Risk in Global Agricultural Markets and Trade Liberalization under Climate Change: Synchronized Crop-Yield Change and Agricultural Price Volatility," Sustainability, MDPI, vol. 12(24), pages 1-17, December.

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