Progress Report: Climate Change and Economic Growth
In this project, I would like to address the relationship between the global climate change and economic development. Although economics is not the major I intend to take in my second year; however, I believe that this would be meaningful to investigate how the variation in climate can affect the economy, which in turn imposes influences on the Gross Domestic Products (GDP) and the people’s lives. Through conducting this research, I would be more knowledgeable about the various effects of global warming on the business sectors, and able to outline some possible suggestions to reduce losses if any.
To make the whole project more comprehensive, I have decided to illustrate how climate change of the Earth is linked with the economic issues according to two dimensions, which are different market sectors and different regions respectively. For the market sectors, I would like to talk about more on the agricultural businesses and fishery field. Other industries which are susceptible to the alternation in climate like construction and tourism might also be discussed.
Getting deeper understanding of the related impacts on the industries, I have read some official records and data published by some recognizable authorities like Food and Agricultural Organization of the United Nations (FAO) to obtain some ideas about the average operation cost that the fishermen need to pay and the amount of government subsidies they got because of the natural disasters. All these factual information can help me generate a more precise conclusion on my research question.
For the regional perspective, I would like to demonstrate the different impacts of climate change on the economy of Africa, low-lying regions, polarized regions, and small islands individually. This can show that within an identical time period, how different areas would be affected diversely due to their distinct geographical factors. To gather more...