THE ECONOMIC CONSEQUENCES OF ENSO EVENTS: THE 1997-98 EL NINO AND THE 1998-99 LA NINA

Richard M. Adams, Chi-Chung Chen, Bruce McCarl and Rodney Weiher

No 24013, Faculty Paper Series from Texas A&M University, Department of Agricultural Economics

Abstract: Climate is the primary determinant of agricultural productivity. In many parts of the world, including the United States, one can trace much of the year-to-year variations in climate to the El Nino-Southern Oscillation phenomenon. In 1997-98 the world experienced a severe El event and this is being flowed by a strong 1998-99 La Nina. The work underlying this develops estimates of the economic consequences of these events on U.S. agriculture. Both phases result in economic damages -- a $1.5 to $1.7 billion loss for the El Nino and a $2.2 to $6.5 billion for La Nina. The major conclusion is that ENSO events do impose costs on agriculture and consumers.

Keywords: Resource/Energy; Economics; and; Policy (search for similar items in EconPapers)
Pages: 11
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:ags:tamufp:24013

DOI: 10.22004/ag.econ.24013

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