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GTAP Resource #7286

"Climate change and central banking in Africa"
by Arndt, Channing, Faaiqa Hartley, Konstantin Makrelov, Bruno Merven, Kenneth Strzepek and Timothy Thomas

Climate change poses significant challenges to country development and welfare across the globe with the effects of global warming leading to rising temperatures, increased frequency of extreme events and actions to limit the rise in emissions requiring structural changes in economies. Africa is expected to be more negatively impacted by climate change due to their dependence on climate vulnerable sectors, limited ability to adapt, and multitude of equally important developmental objectives. Opportunities, however, also exist for many countries in Africa given expected population increases, the need for new infrastructure development and the availability of abundant renewable and transition dependent resources. These climate induced changes in economies pose tangible risks to the financial sector and central banking functions of monetary policy and financial stability as they affect relative price adjustments, changes in balance sheets and broader economic activity. In this paper we explore how climate change affects economies within Africa and the implications of such changes for central banking in the region. A case study of South Africa is used to illustrate how existing models can be used to identify the key risks stemming from climate change and linked with traditional central banking models for monetary policy and fiscal stability assessment.

Key words: Climate change risks, economic modelling, fiscal stability, monetary policy, stress testing.

Resource Details (Export Citation) GTAP Keywords
Category: 2024 Conference Paper
Status: Not published
By/In: Presented during the 27th Annual Conference on Global Economic Analysis (Fort Collins, Colorado, USA)
Date: 2024
Version: 1
Created: Arndt, C. (4/15/2024)
Updated: Arndt, C. (6/3/2024)
Visits: 105
- Climate change policy
- Climate impacts
- Economic analysis of poverty
- Economic crisis
- Economic development
- Economic growth
- Africa (Southern)

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