A climate-economy policy model for Barbados

Artikel

Small island developing states (SIDS), such as Barbados, must continually adapt in the face of uncertain external drivers. These include demand for exports, tourism demand, and extreme weather events. Climate change introduces further uncertainty into the external drivers. To address the challenge, we present a policy-oriented simulation model that builds upon prior work by the authors and their collaborators. Intended for policy analysis, it follows a robust decision making (RDM) philosophy of identifying policies that lead to positive outcomes across a wide range of external changes. While the model can benefit from further development, it illustrates the importance for SIDS of incorporating climate change into national planning. Even without climate change, normal variation in export and tourism demand drive divergent trajectories for the economy and external debt. With climate change, increasing storm damage adds to external debt as the loss of productive capital and need to rebuild drives imports.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Journal: Economies ; ISSN: 2227-7099 ; Volume: 8 ; Year: 2020 ; Issue: 1 ; Pages: 1-20 ; Basel: MDPI

Klassifikation und Themen

• Klassifikation: Wirtschaft ; General Aggregative Models: Keynes; Keynesian; Post-Keynesian ; Planning Models; Planning Policy
• Thema: Caribbean ; climate adaptation ; climate change ; parametric insurance ; SIDS ; tourism ; tropical cyclone

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Kemp-Benedict, Eric ; Drakes, Crystal ; Canales, Nella
• Ereignis: Veröffentlichung
• (wer): MDPI
• (wo): Basel
• (wann): 2020

Weitere Informationen

• DOI: doi:10.3390/economies8010016
• Handle: http://hdl.handle.net/10419/257065
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ