Wang Yanan Institute for Studies in Economics
Economics Building A307
Xiamen, Fujian, P.R.China, 361005
Information about this author at RePEc
NBER Working Papers and Publications
|April 2009||Global Financial Structure and Climate Change|
with John Whalley: w14888
This paper analyzes the medium to long-term implications of global warming for the evolution of global financial structures. Stern (2007) and other related scientific literature reports that greenhouse gas emissions generated by human activities will very possibly lead to global temperature increase of 1-5 degrees C by 2050. This will cause a dramatic increase in global risks to human life. The response to this will be the seeking-out of financial innovation by major forms, primarily in the area of insurance, but also in the diversification of asset holdings. We suggest in this paper that, with modest climate changes of 1-2 degrees C, the global insurance market will expand dramatically. However, under more extreme climate change scenarios, the entire global financial structure will underg...
Published: Whalley, John & Yuan, Yufei, 2009.
"Global financial structure and climate change,"
Journal of Financial Transformation,
Capco Institute, vol. 25, pages 161-168.
citation courtesy of