Climate change and its implications for central banks in emerging and developing economies
Climate change mitigation and adaptation will prove to be sources of significant structural change. The impacts will be far-reaching and often irreversible, with particularly large effects on emerging and developing economies. This paper assesses the implications of these changes for central banks i...
| Main Authors: | , , |
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| Format: | Artículo preliminar |
| Language: | Inglés |
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South African Reserve Bank
2020
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| Subjects: | |
| Online Access: | https://hdl.handle.net/10568/142118 |
| _version_ | 1855516039550337024 |
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| author | Arndt, Channing Loewald, Christopher Makrelov, Konstantin |
| author_browse | Arndt, Channing Loewald, Christopher Makrelov, Konstantin |
| author_facet | Arndt, Channing Loewald, Christopher Makrelov, Konstantin |
| author_sort | Arndt, Channing |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | Climate change mitigation and adaptation will prove to be sources of significant structural change. The impacts will be far-reaching and often irreversible, with particularly large effects on emerging and developing economies. This paper assesses the implications of these changes for central banks in developing countries. They can best support adaptation and mitigation efforts by maintaining macroeconomic stability, lowering the cost of borrowing to support green investment, facilitating the development of green assets, and improving the sharing of information in the financial system, especially with respect to risks. Yet, emerging market central banks currently have limited capacity to assess climate risks and their effects on financial stability, growth, and inflation. As such, the paper also provides options for central banks to develop analytical frameworks useful for that purpose. |
| format | Artículo preliminar |
| id | CGSpace142118 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 2020 |
| publishDateRange | 2020 |
| publishDateSort | 2020 |
| publisher | South African Reserve Bank |
| publisherStr | South African Reserve Bank |
| record_format | dspace |
| spelling | CGSpace1421182025-12-08T10:11:39Z Climate change and its implications for central banks in emerging and developing economies Arndt, Channing Loewald, Christopher Makrelov, Konstantin models policies banking developing countries climate change mitigation risk monetary policies climate change Climate change mitigation and adaptation will prove to be sources of significant structural change. The impacts will be far-reaching and often irreversible, with particularly large effects on emerging and developing economies. This paper assesses the implications of these changes for central banks in developing countries. They can best support adaptation and mitigation efforts by maintaining macroeconomic stability, lowering the cost of borrowing to support green investment, facilitating the development of green assets, and improving the sharing of information in the financial system, especially with respect to risks. Yet, emerging market central banks currently have limited capacity to assess climate risks and their effects on financial stability, growth, and inflation. As such, the paper also provides options for central banks to develop analytical frameworks useful for that purpose. 2020-08-01 2024-05-22T12:09:59Z 2024-05-22T12:09:59Z Working Paper https://hdl.handle.net/10568/142118 en Open Access South African Reserve Bank Arndt, Channing; Loewald, Christopher; and Makrelov, Konstantin. 2020. Climate change and its implications for central banks in emerging and developing economies. South African Reserve Bank Working Paper Series WP/20/04. https://www.resbank.co.za/en/home/publications/publication-detail-pages/working-papers/2020/10001 |
| spellingShingle | models policies banking developing countries climate change mitigation risk monetary policies climate change Arndt, Channing Loewald, Christopher Makrelov, Konstantin Climate change and its implications for central banks in emerging and developing economies |
| title | Climate change and its implications for central banks in emerging and developing economies |
| title_full | Climate change and its implications for central banks in emerging and developing economies |
| title_fullStr | Climate change and its implications for central banks in emerging and developing economies |
| title_full_unstemmed | Climate change and its implications for central banks in emerging and developing economies |
| title_short | Climate change and its implications for central banks in emerging and developing economies |
| title_sort | climate change and its implications for central banks in emerging and developing economies |
| topic | models policies banking developing countries climate change mitigation risk monetary policies climate change |
| url | https://hdl.handle.net/10568/142118 |
| work_keys_str_mv | AT arndtchanning climatechangeanditsimplicationsforcentralbanksinemerginganddevelopingeconomies AT loewaldchristopher climatechangeanditsimplicationsforcentralbanksinemerginganddevelopingeconomies AT makrelovkonstantin climatechangeanditsimplicationsforcentralbanksinemerginganddevelopingeconomies |