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Global Climate Change-Induced Migration and Financial Flows

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Abstract

Climate change gains transfer are meant not only to compensate for losses in global warming losing territories but also to finance incentives for a transition to renewable energy. In order to manifest the established facts that some parts of the world will be gaining from a warming earth and some are vanishingly melting, the following chapter investigates climate-induced migration streams and financial flows. Based on a 187 country-strong dataset and under the implicit assumption of an open economy, a significantly positive inflow of migrants was found into the climate change winner countries. A statistically significant correlation outlines a positive Foreign Direct Investment (FDI) remaining financial inflow into the winning countries. As a cross validation of the finding of financial inflows into climate change winner countries, a non-significant correlation and independent t-test reveal that there are no significant financial returns in form of remittances to the climate change loser countries in order to highlight that the money transfer into winning countries is only one sided and not reversed by remittances. The results target at underlining the importance of climate change benefits transfers to offset the losses incurred in the global warming-burdened areas of the world.

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Copyright information

© The Author(s) 2020

Authors and Affiliations

  1. 1.The New School & Columbia UniversityNew YorkUSA

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