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Firm Adaptation to Climate Change

Author

Listed:
  • Arti Grover
  • Matthew E. Kahn

Abstract

We survey the microeconomics literature that studies how firms in the developing world are adapting to extreme weather, local pollution, and natural disasters. Climate change increases the uncertainty that every firm must address as it decides where and how to produce and who to trade with. We study how expectations, market structure and firm heterogeneity determine investment in self-protection. A firm’s resilience also depends on government policies, market insurance access and infrastructure investments. We explore the strategic interactions between firms and governments that together determine firm risk exposure. We discuss benchmarks for measuring adaptation progress at the firm, industry and macroeconomic level.

Suggested Citation

  • Arti Grover & Matthew E. Kahn, 2024. "Firm Adaptation to Climate Change," NBER Working Papers 32848, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:32848
    Note: DEV EEE PR
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    Cited by:

    1. Srivastava, Prachi & Bloom, Nicholas & Bunn, Philip & Mizen, Paul & Thwaites, Gregory & Yotzov, Ivan, 2024. "Firm climate investment: a glass half-full," Bank of England working papers 1095, Bank of England.

    More about this item

    JEL classification:

    • D2 - Microeconomics - - Production and Organizations
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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