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ORIGINAL RESEARCH article

Front. Environ. Sci.
Sec. Environmental Economics and Management
Volume 12 - 2024 | doi: 10.3389/fenvs.2024.1439927
This article is part of the Research Topic Financial Development, Institutions, and Markets in the Era of Climate Change View all articles

Temperatures up, economy down The climate-economic model of 27 EU countries at the NUTS 3 level

Provisionally accepted
Jana Vancová Jana Vancová Daniela Hadačová Daniela Hadačová *Lenka Maličká Lenka Maličká
  • Technical University of Košice, Košice, Slovakia

The final, formatted version of the article will be published soon.

    The paper examines the relationship between the changes in air temperature in recent decades and the economic performance of the European Union (EU) countries. It provides the climate economic model of EU countries considering the NUTS 3 regions to capture also the within-country differences in air temperatures and economic growth at the regional level because of evident differences in the geographical landscape - the elevation and climate. The sample covers 1,200 units at the NUTS 3 level from 2000 to 2022, and the panel data approach is employed. Besides the analysis provided at the NUTS 3 level, the paper´s uniqueness also lies in focusing on temperature variations using the Cooling index, a weather-based technical index designed to describe the need for air cooling (or air conditioning). The results confirm the expectation about the inverse relationship between air temperatures and economic performance. The results contribute to the climate economic literature that provides policy implications to shape public policies dealing with the impacts and risks of climate change.

    Keywords: GDP, Cooling index, NUTS3 regions, European Union, climate economic

    Received: 28 May 2024; Accepted: 27 Nov 2024.

    Copyright: © 2024 Vancová, Hadačová and Maličká. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.

    * Correspondence: Daniela Hadačová, Technical University of Košice, Košice, Slovakia

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