Climate Change and the Economic Development Trap: Exploring the Economic Consequences of Climate Change in Vulnerable Nations
DOI:
https://doi.org/10.70042/eroth/08030004Keywords:
Climate change, Economic development, Vulnerable nations, Economic ConsequencesAbstract
Climate change poses significant challenges to global economic development, particularly in vulnerable nations. This research article delves into the intricate relationship between climate change and economic development, focusing on the phenomenon of the "economic development trap" experienced by many of these nations. Through a comprehensive review of existing literature and empirical data, this study examines the multifaceted economic consequences of climate change, including impacts on agriculture, infrastructure, health, and labour productivity. Moreover, it explores the exacerbation of existing inequalities and vulnerabilities, as well as the potential for climate-induced migration and conflict. The article also discusses policy implications and adaptation strategies aimed at mitigating the adverse economic effects of climate change and fostering sustainable development pathways. By shedding light on these critical issues, this research contributes to a better understanding of the complex interplay between climate change and economic development and underscores the urgent need for global cooperation and action to address this pressing challenge.
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