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The Economics of Climate Resilience and Adaptation

Edited by Sam Fankhauser, Director of the Grantham Research Institute on Climate Change and the Environment and Director of the Centre for Climate Change Economics and Policy, London School of Economics and Political Science, UK
Managing climate change requires action on both its causes (reducing emissions) and its consequences (adapting to impacts that can no longer be avoided). Human societies can thrive in many climatic conditions. However, such adaptation is not necessarily smooth, and it cannot be taken for granted. This book synthesises the contribution of economics to the study and practice of climate resilience and adaptation. Including an original introduction by the editor, it brings together in one volume some of the most influential articles by economists on climate change adaptation since the topic became a subject of academic interest.
Extent: c 912 pp
Hardback Price: $545.00 Web: $490.50
Publication Date: February 2020
ISBN: 978 1 78897 152 2
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  • Economics and Finance
  • Environmental Economics
  • Environment
  • Climate Change
  • Energy Economics
Managing climate change requires action on both its causes (reducing emissions) and its consequences (adapting to impacts that can no longer be avoided). Human societies can thrive in many climatic conditions. However, such adaptation is not necessarily smooth, and it cannot be taken for granted. This book synthesises the contribution of economics to the study and practice of climate resilience and adaptation. Including an original introduction by the editor, it brings together in one volume some of the most influential articles by economists on climate change adaptation since the topic became a subject of academic interest.
46 articles, dating from 1994 to 2017
Contributors include: N. Adger, M. Burke, O. Deschênes, S. Fankhauser, K. Fisher-Vanden, S. Hallegatte, M. Kahn, R. Mendelsohn, R. Tol , G. Yohe
Contents:

Acknowledgements

Introduction Sam Fankhauser
PART I THE STATE OF THE ART
1. Sam Fankhauser (2017), ‘Adaptation to Climate Change’, Annual Review of Resource Economics, 9, October, 209–30

2. Matthew E. Kahn (2016), ’The Climate Change Adaptation Literature’, Review of Environmental Economics and Policy, 10 (1), Winter, 166–78

3. Robert Mendelsohn (2012), ‘The Economics of Adaptation to Climate Change in Developing Countries’, Climate Change Economics, 3 (2), August, 1250006-1–21

4. Melissa Dell, Benjamin F. Jones and Benjamin A. Olken (2014), ‘What Do We Learn from the Weather? The New Climate–Economy Literature’, Journal of Economic Literature, 52 (3), September, 740–98

5. Karen Fisher-Vanden, Ian Sue Wing, Elisa Lanzi and David Popp (2013), ‘Modeling Climate Change Feedbacks and Adaptation Responses: Recent Approaches and Shortcomings’, Climatic Change, 117 (3), April, 481–95

PART II THE ANALYSIS OF ADAPTATION BEHAVIOUR
A. Agriculture
6. Robert Mendelsohn, William D. Nordhaus and Daigee Shaw (1994), ‘The Impact of Global Warming on Agriculture: A Ricardian Analysis’, American Economic Review, 84 (4), September, 753–71

7. S. Niggol Seo and Robert Mendelsohn (2008), ‘An Analysis of Crop Choice: Adapting to Climate Change in South American Farms’, Ecological Economics, 67 (1), August, 109–16

8. Salvatore Di Falco, Marcella Veronesi and Mahmud Yesuf (2011), ‘Does Adaptation to Climate Change Provide Food Security? A Micro-Perspective from Ethiopia’, American Journal of Agricultural Economics, 93 (3), April, 829–46

9. Harounan Kazianga and Christopher Udry (2006), ‘Consumption Smoothing? Livestock, Insurance and Drought in Rural Burkina Faso’, Journal of Development Economics, 79 (2), April, 413–46

10. Marshall Burke and Kyle Emerick (2016), ‘Adaptation to Climate Change: Evidence from US Agriculture’, American Economic Journal: Economic Policy, 8 (3), August, 106–40

B. Energy Use
11. Maximilian Auffhammer and Erin T. Mansur (2014), ‘Measuring Climatic Impacts on Energy Consumption: A Review of the Empirical Literature’, Energy Economics, 46, November, 522–30

12. Olivier Deschênes and Michael Greenstone (2011), ‘Climate Change, Mortality, and Adaptation: Evidence from Annual Fluctuations in Weather in the US’, American Economic Journal: Applied Economics, 3 (4), October, 152–85

13. David Rapson (2014), ‘Durable Goods and Long-Run Electricity Demand: Evidence from Air Conditioner Purchase Behavior’, Journal of Environmental Economics and Management, 68 (1), July, 141–60

14. Enrica De Cian, Elisa Lanzi and Roberto Roson (2013), ‘Seasonal Temperature Variations and Energy Demand: A Panel Cointegration Analysis for Climate Change Impact Assessment’, Climatic Change, 116 (3–4), February, 805–25

C. Coastal Protection
15. S. Fankhauser (1995), ‘Protection versus Retreat: The Economic Costs of Sea-Level Rise’, Environment and Planning A, 27 (2), February, 299–319

16. Paul Kirshen, Kelly Knee and Matthias Ruth (2008), ‘Climate Change and Coastal Flooding in Metro Boston: Impacts and Adaptation Strategies’, Climatic Change, 90 (4), October, 453–73

17. Robert J. Nicholls, Natasha Marinova, Jason A. Lowe, Sally Brown, Pier Vellinga, Diogo de Gusmão, Jochen Hinkel and Richard S. J. Tol (2011), ‘Sea-Level Rise and its Possible Impacts Given a “Beyond 4°C World” in the Twenty-First Century‘, Philosophical Transactions of the Royal Society A, 369 (1934), 13th January, 161–81

18. Luis Maria Abadie, Ibon Galarraga and Elisa Sainz de Murieta (2017), ‘Understanding Risks in the Light of Uncertainty: Low-Probability, High-Impact Costal Events in Cities’, Environmental Research Letters, 12 (1), January, 1–7, Addendum 1–5

D. Disaster Response
19. V. Kerry Smith, Jared C. Carbone, Jaren C. Pope, Daniel G. Hallstrom and Michael E. Darden (2006), ‘Adjusting to Natural Disasters’, Journal of Risk and Uncertainty, 33 (1–2), September, 37–54

20. Marcel Fafchamps and Susan Lund (2003), ‘Risk-Sharing Networks in Rural Philippines’, Journal of Development Economics, 71 (2), August, 261–87

21. Luca Marchiori, Jean-François Maystadt and Ingmar Schumacher (2012), ‘The Impact of Weather Anomalies on Migration in Sub-Saharan Africa’, Journal of Environmental Economics and Management, 63 (3), May, 355–74


22. Leah Platt Boustan, Matthew E. Kahn and Paul W. Rhode (2012), ‘Moving to Higher Ground: Migration Response to Natural Disasters in the Early Twentieth Century’, American Economic Review, 102 (3), May, 238–44

23. Qing Miao and David Popp (2014), ‘Necessity as the Mother of Invention: Innovative Responses to Natural Disasters’, Journal of Environmental Economics and Management, 68 (2), September, 280–95

PART III ADAPTATION PLANNING
A. Adaptation Priorities
24. Samuel Fankhauser, Joel B. Smith and Richard S. J. Tol (1999), ‘Weathering Climate Change: Some Simple Rules to Guide Adaptation Decisions’, Ecological Economics, 30 (1), July, 67–78

25. H.-M. Füssel (2007), ‘Adaptation Planning for Climate Change: Concepts, Assessment Approaches, and Key Lessons’, Sustainability Science, 2 (2), October, 265–75

26. Shardul Agrawala, Francesco Bosello, Carlo Carraro, Kelly De Bruin, Enrica De Cian, Rob Dellink and Elisa Lanzi (2011), ‘Plan or React? Analysis of Adaptation Costs and Benefits Using Integrated Assessment Models’, Climate Change Economics, 2 (3), 175–208

27. Stéphane Hallegatte (2009), ‘Strategies to Adapt to an Uncertain Climate Change’, Global Environmental Change, 19 (2), May, 240–47

B. Making Adaptation Decisions
28. Paul Watkiss, Alistair Hunt, William Blyth, Jillian Dyszynski (2015), ‘The Use of New Economic Decision Support Tools for Adaptation Assessment: A Review of Methods and Applications, Towards Guidance on Applicability’, Climatic Change, 132 (3), October, 401–16

29. Peter Linquiti and Nicholas Vonortas (2012), ‘The Value of Flexibility in Adapting to Climate Change: A Real Options Analysis of Investments in Coastal Defense’, Climate Change Economics, 3 (2), 1250008-1–33

30. Nicola Ranger, Tim Reeder and Jason Lowe (2013), ‘Addressing “Deep” Uncertainty over Long-Term Climate in Major Infrastructure Projects: Four Innovations of the Thames Estuary 2100 Project’, EURO Journal on Decision Processes, 1 (3–4), November, 233–62

31. Suraje Dessai and Mike Hulme (2007), ‘Assessing the Robustness of Adaptation Decisions to Climate Change Uncertainties: A Case Study on Water Resources Management in the East of England’, Global Environmental Change, 17 (1), February, 59–72

C. Barriers to Adaptation
32. Gary Yohe and Richard S. J. Tol (2002), ‘Indicators for Social and Economic Coping Capacity – Moving Toward a Working Definition of Adaptive Capacity’, Global Environmental Change, 12 (1), April, 25–40

33. Torsten Grothmann and Anthony Patt (2005), ‘Adaptive Capacity and Human Cognition: The Process of Individual Adaptation to Climate Change’, Global Environmental Change, 15 (3), October, 199–213

34. Russell S. Sobel and Peter T. Leeson (2006), ‘Government’s Response to Hurricane Katrina: A Public Choice Analysis’, Public Choice, 127 (1–2), April, 55–73

35. Peter T. Leeson and Russell S. Sobel (2008), ‘Weathering Corruption’, Journal of Law and Economics, 51 (4), November, 667–81

36. W. Neil Adger, Suraje Dessai, Marisa Goulden, Mike Hulme, Irene Lorenzoni, Donald R. Nelson, Lars Otto Naess, Johanna Wolf and Anita Wreford (2009), ‘Are There Social Limits to Adaptation to Climate Change?’, Climatic Change, 93 (3–4), April, 335–54

PART IV CLIMATE-RESILIENT DEVELOPMENT
A. Adaptation and Development
37. Paul Collier, Gordon Conway and Tony Venables (2008), ‘Climate Change and Africa’, Oxford Review of Economic Policy, 24 (2), July, 337–53

38. Thomas C. Schelling (1992), ‘Some Economics of Global Warming’, American Economic Review, 82 (1), March, 1–14

39. Matthew E. Kahn (2005), ‘The Death Toll from Natural Disasters: The Role of Income, Geography, and Institutions’, Review of Economics and Statistics, 87 (2), May, 271–84

40. Samuel Fankhauser and Thomas K. J. McDermott (2014), ‘Understanding the Adaptation Deficit: Why Are Poor Countries More Vulnerable to Climate Events than Rich Countries?’, Global Environmental Change, 27, July, 9–18 [10]

41. Robert W. Kates (2000), ‘Cautionary Tales: Adaptation and the Global Poor’, Climatic Change, 45 (1), April, 5–17 [13]

B. Adaptation Finance
42. Samuel Fankhauser and David Pearce (2014), ‘Financing for Sustainable Development’, in Giles Atkinson, Simon Dietz, Eric Neumayer and Matthew Agarwala (eds), Handbook of Sustainable Development, 2nd edn, Chapter 28, Cheltenham, UK and Northampton, MA, USA: Edward Elgar Publishing, 446–59

43. Joel B. Smith, Thea Dickinson, Joseph D. B. Donahue, Ian Burton, Erik Haites, Richard J. T. Klein and Anand Patwardhan (2011), ‘Development and Climate Change Adaptation Funding: Coordination and Integration’, Climate Policy: International Financial Support to Address Climate Change, 11 (3), 987–1000

44. Sam Barrett (2013), ‘Local Level Climate Justice? Adaptation Finance and Vulnerability Reduction’, Global Environmental Change, 23 (6), December, 1819–29

45. Seraina Buob and Gunter Stephan (2013), ‘On the Incentive Compatibility of Funding Adaptation’, Climate Change Economics, 4 (2), 1350005-1–18

46. Karen Pittel and Dirk Rübbelke (2013), ‘International Climate Finance and Its Influence on Fairness and Policy’, World Economy, 36 (4), April, 419–36

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