世界银行-企业层面的气候变化适应_来自134个国家的微观证据（英）-2025.3_60页_3mb

Firm-Level Climate Change Adaptation: Micro Evidence from 134 Nations

Summary

This study combines granular satellite weather data with firm-level microdata from the World Bank's Enterprise Survey to analyze the impact of rising temperatures on firm performance, adaptation capacity, and policy constraints across 134 countries from 2006 to 2023, covering over 160,000 firms.

Key findings include:

• Small and medium-size firms, startups, and heat-sensitive sectors are most vulnerable to rising temperatures, with a 12% revenue decline in low-income countries (LICs) and lower-middle-income countries (LMICs) for a 0.5°C temperature increase.
• Labor productivity decreases significantly in small firms, leading to lower wages and reduced innovation.
• Policy constraints, such as limited access to finance, burdensome regulations, and poor security, exacerbate firms’ vulnerability to climate shocks.
• Granular data helps address endogeneity issues by controlling for geographical heterogeneity and factors like firm size and GDP.

The research underscores the importance of context-specific policies to improve economic resilience, particularly in developing countries.