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August 16, 2025Tourism EconomicsOpen Access

Economic costs of climate shocks for firms in emerging economies

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Authors

AAAdam ArianHGHassan F. GholipourRBRichard Busulwa

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Overview

Analysis reveals climate shocks reduce investment efficiency in firms, highlighting financial resilience trade-offs.

Key Points

  • Firms in high climate-risk environments show lower investment efficiency, impacting growth.
  • The study identifies a significant reduction in capital expenditure by affected firms, alongside changes in financial strategies.
  • Using 8775 firm-year observations from the tourism and hospitality sector, the analysis highlights economic costs.
  • Findings suggest a structural trade-off exists between financial resilience and long-term growth in emerging markets.

Cite This Study

Arian et al. (2025) studied this question.

synapsesocial.com/papers/68af453fad7bf08b1ead2e31https://doi.org/10.1177/13548166251369308
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