The Impact of Extreme Events and Climate Change on Agricultural and Fishery Enterprises in Central Vietnam

Do Van Quang, Mai Lan Phung, Duc Toan Truong, Thi Thanh Trang Pham, Dang Van Thanh and The Kien Nguyen
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Do Van Quang: Faculty of Economics and Management, Thuyloi University, Dong Da District, Hanoi 11515, Vietnam
Mai Lan Phung: Faculty of Economics and Management, Thuyloi University, Dong Da District, Hanoi 11515, Vietnam
Duc Toan Truong: Faculty of Economics and Management, Thuyloi University, Dong Da District, Hanoi 11515, Vietnam
Thi Thanh Trang Pham: Faculty of Economics and Management, Thuyloi University, Dong Da District, Hanoi 11515, Vietnam
Dang Van Thanh: Cooperative Development Agency, Ministry of Planning and Investment of Vietnam, Ba Dinh District, Hanoi 11118, Vietnam
The Kien Nguyen: Center for Socio-Economic Analysis and Databases (CSEAD), VNU University of Economics and Business, Cau Giay District, Hanoi 11310, Vietnam

Sustainability, 2021, vol. 13, issue 13, 1-17

Abstract: Vietnam is located in the tropical monsoon region and it often faces many types of extreme weather events, especially storms and droughts. In addition to the effect of climate change, extreme weather events have been becoming more complicated and difficult to predict, causing heavy losses to many areas and economic sectors of the country. These problems impose a great threat to the country to achieve its socio-economic targets and sustainable development goals. This study uses a Riparian approach integrated with two-stage Hsiao method using a panel dataset from 2000–2018 to examine the impact of extreme weather events and climate change on the output of agriculture and fishery enterprises in the Central and Central Highlands regions of Vietnam. Findings from the study indicate that extreme weather events and climate change have a negative impact on agriculture and fishery enterprises in the regions. Specifically, the model results show that the value-added loss to agriculture and fishery enterprises as the impact of extreme weather events and climate change may escalate from billion VND 3597.72 to 18,891.2 under different climate change scenarios. The results also indicate the impact of various factors regarding extreme weather events and climate change on the efficiency of enterprises in the study area. Findings from this study provide insights on the impacts of extreme weather events and climate change on value-added of enterprises in the study regions and help to propose appropriate solutions to adapt and mitigate their impacts in the future.

Keywords: extreme weather events; climate change; agriculture; central regions of Vietnam; Ricardian model (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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