Thesis

The environment and macroeconomy

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Awarding institution
  • University of Strathclyde
Date of award
  • 2025
Thesis identifier
  • T17469
Person Identifier (Local)
  • 202152979
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Department, School or Faculty
Abstract
  • This thesis explores the intricate relationship between the environment and macroeconomic outcomes through three interconnected studies. The first study, “The Macroeconomic Impact of Global and Country-Specific Climate Risk”, examines how climate risks influence economic performance at both the global and national levels. It investigates whether climate shocks induce substantial and persistent economic fluctuations. We find that global climate risk is more connected with macroeconomic activity than the country-specific climate risk irrespective of economic status. The second study, “The Economic Consequences of Green Growth: A Multi-Country Empirical Study”, evaluates the macroeconomic implications of green growth. While transitioning to environmentally sustainable growth is widely advocated, its particular economic effects—whether in terms of productivity, employment, or investment dynamics—remain a subject of ongoing debate. This chapter provides empirical evidence on the economic trade-offs and benefits of green growth strategies across multiple economies. Our findings suggest that green growth indicators are strongly associated with GDP growth in advanced economies than in emerging economies. The final study, “R&D Intensity and Global Warming”, takes a historical perspective on the role of innovation in addressing climate change. This chapter explores whether technological advancements have contributed to climate mitigation and innovation efforts are necessary to address global warming effectively. We observed an inverse relationship between R&D intensity and global warming. This, however, suggests that R&D intensity could positively lead to the reduction in global warming.
Advisor / supervisor
  • Davidson, Sharada Nia
  • Byrne, Joseph P.
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