The Economics of Climate-Resilient Development

The Economics of Climate-Resilient Development

Edited by Sam Fankhauser and Thomas K.J. McDermott

Some climate change is now inevitable and strategies to adapt to these changes are quickly developing. The question is particularly paramount for low-income countries, which are likely to be most affected. This timely and unique book takes an integrated look at the twin challenges of climate change and development. The book treats adaptation to climate change as an issue of climate-resilient development, rather than as a bespoke set of activities (flood defences, drought plans, and so on), combining climate and development challenges into a single strategy. It asks how the standard approaches to development need to change, and what socio-economic trends and urbanisation mean for the vulnerability of developing countries to climate risks. Combining conceptual thinking with practical policy prescriptions and experience the contributors argue that, to address these questions, climate risk has to be embedded fully into wider development strategies

Chapter 9: Climate-resilient development in agrarian economies

Mintewab Bezabih, Stefania Lovo, Gregor Singer and Courtney McLaren

Subjects: economics and finance, development economics, environmental economics, environment, climate change, environmental economics

Extract

Mintewab Bezabih, Stefania Lovo, Gregor Singer and Courtney McLaren 9.1 INTRODUCTION The negative impacts of climate change are arguably most felt by the predominantly agrarian and rain- economies of many developing fed countries (Kurukulasuriya et al., 2006; Dinar et al., 2012). It is such vulnerability that has underscored the importance of mechanisms that enhance the agricultural sector’s capacity to cope better with the adverse impacts of climate change (Maddison, 2007; Bryan et al., 2011). Climate change poses an additional challenge to the mainstay agricultural sector, which is already faced with resource degradation, caused by heavy dependence on natural resources and agricultural stagnation, forming a nexus of deepening poverty and further dependence on ecologic ally fragile environments (Mellor, 1988; Dasgupta and Mäler, 1994; Berry et al., 2003). The need for substantial increases in food production to meet the demands of a growing population adds further pressure for growth in the agricultural sector (Berry et al., 2003; New Climate Economy, 2014). Improved climate resilience is required such that adaptive capacity is built in a manner that is compatible with the needs of the agricultural sector to meet increasing demand and to replenish the natural resource base. Indeed, in the case of the more severe states of nature of climate change, modifying existing agricultural practice will be insufficient and instead an integrated approach addressing the aforementioned challenges is emphasized (Howden et al., 2007). Accordingly, climate- esilient r development is focused on integrating consideration of climate impacts in development strategies, such that climate...

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