The Economic Costs of Climate Change: A Multi-Sector Impact Assessment for Vietnam

TY - JOUR

T1 - The Economic Costs of Climate Change

T2 - A Multi-Sector Impact Assessment for Vietnam

AU - Arndt, Channing

AU - Tarp, Finn

AU - Thurlow, James

PY - 2015

Y1 - 2015

N2 - We adopt a multi-sectoral approach and consider the full range of climateprojections. Biophysical damages are translated into economic costs using a dynamic economy-wide model. Our results indicate that the negative impacts on agriculture and roads are modest to 2050. Larger costs are caused by rising sea levels and cyclone strikes. Overall, climate change is likely to reduce national income by between one and two percent by 2050 (relative to a historical baseline). Damages double under more extreme projections. Our findings suggest that there are net benefits from selected pre-emptive actions though careful consideration of opportunity costs is required.

AB - We adopt a multi-sectoral approach and consider the full range of climateprojections. Biophysical damages are translated into economic costs using a dynamic economy-wide model. Our results indicate that the negative impacts on agriculture and roads are modest to 2050. Larger costs are caused by rising sea levels and cyclone strikes. Overall, climate change is likely to reduce national income by between one and two percent by 2050 (relative to a historical baseline). Damages double under more extreme projections. Our findings suggest that there are net benefits from selected pre-emptive actions though careful consideration of opportunity costs is required.

U2 - 10.3390/su7044131

DO - 10.3390/su7044131

M3 - Journal article

SN - 2071-1050

VL - 7

SP - 4131

EP - 4145

JO - Sustainability

JF - Sustainability

IS - 4

ER -