Climate change will impose large and differentiated tolls across countries. This paper suggests that economic fragility and resilience against climate change-driven natural shocks are shaped by: (i) the elasticity of input substitution in resource-intensive sectors, (ii) the trade regime, and (iii) the property rights regime in nature-based assets. Using a structural transformation model, the paper shows, inter alia, that openness increases resilience...
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INFORMACIÓN
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2023/03/13
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Documento de trabajo sobre investigaciones relativas a políticas
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WPS10362
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1
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2023/03/13
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Disclosed
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The Fragility and Resilience of Nations