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 | |
DeviationAdjustedTempAnomaly | − 0.239*** (0.0861) | − 0.315*** (0.108) | − 0.258* (0.152) | ||||||
HistoricalTempAnomaly | 0.0994 (0.131) | − 0.184* (0.0993) | − 0.0587 (0.0699) | − 0.336*** (0.0875) | 0.157 (0.116) | − 0.341** (0.129) | |||
VeryColdCountry \(\times\) HistoricalTempAnomaly | − 0.0286 (0.120) | 0.0559 (0.0898) | − 0.163 (0.107) | ||||||
ColdCountry (base category) \(\times\) HistoricalTempAnomaly | 0 (0) | 0 (0) | 0 (0) | ||||||
MildCountry \(\times\) HistoricalTempAnomaly | − 0.231* (0.137) | − 0.0797 (0.0784) | − 0.245 (0.158) | ||||||
WarmCountry \(\times\) HistoricalTempAnomaly | − 0.104 (0.166) | − 0.0143 (0.120) | − 0.520* (0.278) | ||||||
VeryWarmCountry \(\times\) HistoricalTempAnomaly | − 0.642*** (0.248) | − 0.384 (0.239) | − 0.664 (0.400) | ||||||
RuleOfLaw | − 0.0047 (0.00501) | − 0.00261 (0.00513) | − 0.0127* (0.00687) | ||||||
HistoricalTempAnomaly \(\times\) RuleOfLaw | 0.00381*** (0.00140) | 0.00514*** (0.00138) | 0.00459** (0.00208) | ||||||
Precipitation | 0.0319 (0.418) | − 0.0355 (0.445) | 0.322 (0.414) | − 0.0579 (0.522) | − 0.0419 (0.539) | 0.0934 (0.523) | − 0.148 (0.677) | − 0.238 (0.705) | 0.140 (0.738) |
Observations | 8746 | 8746 | 8477 | 7641 | 7641 | 7550 | 4467 | 4467 | 4198 |
R-squared | 0.529 | 0.529 | 0.505 | 0.524 | 0.524 | 0.509 | 0.597 | 0.597 | 0.553 |
Country FE | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Region\(\times\)MonthYear FE | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Number of countries | 39 | 39 | 39 | 44 | 44 | 44 | 39 | 39 | 34 |
Total “very warm” country effect | − 0.543 | − 0.443 | − 0.507 |