Reexaming the impact of ENSO on economic growth: the role of local weather conditions

Olivier Damette, Cécile Couharde (), Rémi Generoso and Kamiar Mohaddes
Additional contact information
Rémi Generoso: EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique

Post-Print from HAL

Abstract: This paper examines the growth effects of ENSO events through their interactions with local weather conditions using the Standardized recipitation and Evapotranspiration Index (SPEI) from 1975 to 2014 and over a sample of 74 countries. The inclusion of SPEI in panel estimation makes it possible to control for time-varying country-specific effects of ENSO events, therefore outlining their heterogeneous effects on growth and eliminating a potential source of omitted-variable bias. By better identifying the persistence of ENSO effects on local weather conditions, we evidence that ENSO events generate heterogeneous and local effects depending not only on countries' climate regime but also on their weather patterns. Our results suggest that examining the growth effects of ENSO events should thus explicitly account for their interaction with weather patterns to capture more precisely the heterogeneity across countries.

Keywords: Economic growth; ENSO events; Weather conditions (search for similar items in EconPapers)
Date: 2020
References: Add references at CitEc
Citations:

Published in Annals of Economics and Statistics, 2020, 40, pp.83-126

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03215730

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().