The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)
From: Physical climate change and the sovereign risk of emerging economies
(1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | |
---|---|---|---|---|---|---|---|---|---|
\(\Delta\)EMBI | \(\Delta\)EMBI | \(\Delta\)EMBI | \(\Delta\)EMBI | \(\Delta\)EMBI | \(\Delta\)EMBI | \(\Delta\)EMBI | \(\Delta\)EMBI | \(\Delta\)EMBI | |
HistoricalTempAnomaly | 0.0125 (0.0795) | − 0.222** (0.0830) | 0.0599 (0.112) | − 0.194** (0.0952) | 0.0913 (0.113) | − 0.241*** (0.0852) | |||
DeviationAdjustedTempAnomaly | − 0.237*** (0.0743) | − 0.179* (0.106) | − 0.238*** (0.0880) | ||||||
VeryColdCountry \(\times\) HistoricalTempAnomaly | − 0.0482 (0.0918) | − 0.0355 (0.104) | − 0.0470 (0.110) | ||||||
ColdCountry (base category) \(\times\) HistoricalTempAnomaly | 0 (0) | 0 (0) | 0 (0) | ||||||
MildCountry \(\times\) HistoricalTempAnomaly | − 0.120 (0.0994) | − 0.176 (0.118) | − 0.234* (0.117) | ||||||
WarmCountry \(\times\) HistoricalTempAnomaly | − 0.0984 (0.118) | − 0.114 (0.146) | − 0.196 (0.156) | ||||||
VeryWarmCountry \(\times\) HistoricalTempAnomaly | − 0.428** (0.165) | − 0.380** (0.185) | − 0.562** (0.249) | ||||||
RuleOfLaw | − 0.0036 (0.00499) | − 0.0056 (0.00500) | |||||||
HistoricalTempAnomaly \(\times\) RuleOfLaw | 0.00346** (0.00148) | 0.00358*** (0.00126) | 0.00457*** (0.00117) | ||||||
Precipitation | − 0.0832 (0.440) | − 0.104 (0.443) | 0.286 (0.411) | 0.0590 (0.408) | 0.0555 (0.404) | 0.234 (0.380) | 0.481 (0.672) | 0.428 (0.690) | 0.776 (0.668) |
Observations | 10,006 | 10,006 | 9699 | 9951 | 9951 | 9682 | 9957 | 9957 | 9688 |
R-squared | 0.418 | 0.418 | 0.395 | 0.571 | 0.572 | 0.552 | 0.532 | 0.532 | 0.510 |
Country FE | Yes | Yes | Yes | No | No | No | No | No | No |
MonthYear FE | Yes | Yes | Yes | No | No | No | No | No | No |
Region\(\times\)MonthYear FE | No | No | No | Yes | Yes | Yes | Yes | Yes | Yes |
Country\(\times\)Year FE | No | No | No | Yes | Yes | Yes | No | No | No |
Country\(\times\)Quarter FE | No | No | No | No | No | No | Yes | Yes | Yes |
Total “very warm” country effect | − 0.415 | − 0.320 | − 0.471 |