Published: June 1, 2024

Climate change is making natural disasters more frequent, yet little known about the capacity of firms to withstand such and adapt their increased frequency.We examine this issue using a latest wave World Management Survey (WMS) that includes new questions on firms' climate perceptions adaptation behavior.Combining with geocoded data previous WMS waves, we create panel spanning 8,000 across 33 countries three decades shows exposure decreases growth inputs, outputs firm survival.More importantly, structured management practices are resilient, suffering much smaller drops in jobs capital.To understand mechanisms behind resilience, use show better managed have accurate climate-related risks businesses.Such also likely implemented measures both overall response perceived risk.Other aspects organisation, as decentralisation, help protect against disasters, but behaviour not well-targeted.These results improving one way economies from shocks.

Language: Английский