2 Empirical strategy and results 3 Conclusion 7 References 7
Key points
• This article synthesizes three papers that empirically investigate the impact of climate change on sovereign risks.
• Three proxies of sovereign risk are used: government bond yields and spreads, the probability of sovereign debt defaults and sovereign credit ratings.
• A large panel of advanced and developing countries over the period 1995e2017 is inspected.
• Vulnerability to climate change increases the government's borrowing costs, reduces the credit rating, and positively affects the probability of debt default, especially in developing countries.

Reference Module in Social Sciences

Harcourt Health Sciences Group

Churchill Livingstone

United States, United States of America

2022

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