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Impacts of Sea Level Rise on Economic Growth in Developing Asia

Author

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  • Asuncion, Ruben Carlo

    (Union Bank of the Philippines)

  • Lee, Minsoo

    (Asian Development Bank)

Abstract

Global sea level rise (SLR) variations have undeniably begun to make an impact on highly vulnerable economies. These impacts of SLR are a key component of the projected economic damage of climate change, an important input to climate change policies and adaptive measures. This paper considers SLR projections and its impact on the economy and includes a consolidation of various related studies. Estimated global gross domestic product (GDP) loss by 2100 ranges from 0.3% to as high as of 9.3% (Hinkel et al. 2014; Pycroft, Abrell, and Ciscar 2015). Climate change impact should be addressed at the global level through a locally focused effort where education and acceptance by all stakeholders are crucial and warranted. Further, this paper tackles several adaptive strategies as a response to SLR which include retreat, accommodation, and protection. The retreat strategy simulates that SLR causes the loss of inundated land and incurs planned relocation (migration) costs above a certain sea level. The accommodation strategy allows usage of vulnerable areas or land and limits damage by flood-proofing or raising structures. Finally, the protection strategy projects that land will be protected from SLR damage by sea walls or other barriers of a certain height. On the other hand, Diaz (2016) estimates a median adaptation cost from migration at 16% of GDP under the least-cost strategy by 2050. In general, the education of and the acceptance by the concerned local community will be crucial in the successful implementation of SLR adaptation strategies, notwithstanding parallel mitigation efforts on a global scale.

Suggested Citation

  • Asuncion, Ruben Carlo & Lee, Minsoo, 2017. "Impacts of Sea Level Rise on Economic Growth in Developing Asia," ADB Economics Working Paper Series 507, Asian Development Bank.
    • Handle: RePEc:ris:adbewp:0507
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    File URL: https://www.adb.org/publications/sea-level-rise-economic-growth-developing-asia
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    References listed on IDEAS

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    1. Carlo Giupponi & Mordechai Shechter (ed.), 2003. "Climate Change in the Mediterranean," Books, Edward Elgar Publishing, number 2872.
    2. Jonathan Pycroft & Jan Abrell & Juan-Carlos Ciscar, 2016. "The Global Impacts of Extreme Sea-Level Rise: A Comprehensive Economic Assessment," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 64(2), pages 225-253, June.
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    Cited by:

    1. Garcia-Jorcano, Laura & Sanchis-Marco, Lidia, 2024. "Forecasting the effect of extreme sea-level rise on financial market risk," International Review of Economics & Finance, Elsevier, vol. 93(PB), pages 1-27.
    2. Pham Thi Oanh & Makoto Tamura & Naoko Kumano & Quang Van Nguyen, 2020. "Cost-Benefit Analysis of Mixing Gray and Green Infrastructures to Adapt to Sea Level Rise in the Vietnamese Mekong River Delta," Sustainability, MDPI, vol. 12(24), pages 1-19, December.
    3. Ronald R. Kumar & Peter J. Stauvermann, 2019. "The Effects of a Revenue-Neutral Child Subsidy Tax Mechanism on Growth and GHG Emissions," Sustainability, MDPI, vol. 11(9), pages 1-23, May.

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    More about this item

    Keywords

    climate change; economic growth; sea level rise;
    All these keywords.

    JEL classification:

    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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