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Thirsty Business: A Global Analysis of Extreme Weather Shocks on Firms

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dc.contributor.authorGatti, Roberta
dc.contributor.authorIslam, Asif M.
dc.contributor.authorMaue, Casey
dc.contributor.authorZaveri, Esha
dc.date.accessioned2024-09-25T13:58:29Z
dc.date.available2024-09-25T13:58:29Z
dc.date.issued2024-09-25
dc.description.abstractUsing global data from the World Bank’s Enterprise Surveys that includes the precise geo-location of surveyed firms, this paper examines how dry spells and precipitation shocks influence firm performance. The study finds that firms in areas that experience dry spells have lower performance in terms of sales. This is particularly true for smaller firms and those in developing economies. A higher number of extreme dry days also increases the chances that a firm will exit the market. The main channels are largely through labor productivity and infrastructure service disruptions such as water and power outages. There is also some evidence of limited access to finance due to negative precipitation shocks. Governance may be an exacerbating factor, with negative precipitation shocks increasing exposure to corruption. Yet, there is also some indication that digitally connected and innovative firms are more resilient to negative precipitation shocks. Process innovation, website ownership, and use of technology licensed from foreign firms mediate the effects of negative precipitation shocks on firm performance. However, there is little evidence of adaptation. Negative precipitation shocks have no effect on the presence of green management practices or green investments for a subset of firms for which such data is available.en
dc.identifierhttp://documents.worldbank.org/curated/en/099209409232415063/IDU1d0e51d061707c1446d1af7c115bb2ce6dcbd
dc.identifier.doi10.1596/1813-9450-10923
dc.identifier.urihttps://hdl.handle.net/10986/42197
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.relation.ispartofseriesPolicy Research Working Paper; 10923
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by/3.0/igo/
dc.subjectPRECIPITATION SHOCKS
dc.subjectFIRM PRODUCTIVITY
dc.subjectFIRM-LEVEL ANALYSIS
dc.subjectCLIMATE CHANGE
dc.subjectINDUSTRY, INNOVATION AND INFRASTRUCTURE
dc.subjectSDG 9
dc.subjectCLIMATE ACTION
dc.subjectSDG 13
dc.titleThirsty Businessen
dc.title.subtitleA Global Analysis of Extreme Weather Shocks on Firmsen
dc.typeWorking Paper
dspace.entity.typePublication
okr.crossref.titleThirsty Business: A Global Analysis of Extreme Weather Shocks on Firms
okr.date.disclosure2024-09-25
okr.date.lastmodified2024-09-23T00:00:00Zen
okr.doctypePolicy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/099209409232415063/IDU1d0e51d061707c1446d1af7c115bb2ce6dcbd
okr.guid099209409232415063
okr.identifier.docmidIDU-d0e51d06-707c-446d-af7c-15bb2ce6dcbd
okr.identifier.doi10.1596/1813-9450-10923
okr.identifier.doihttps://doi.org/10.1596/1813-9450-10923
okr.identifier.externaldocumentum34394049
okr.identifier.internaldocumentum34394049
okr.identifier.reportWPS10923
okr.import.id5355
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099209409232415063/pdf/IDU1d0e51d061707c1446d1af7c115bb2ce6dcbd.pdfen
okr.region.geographicalWorld
okr.topicIndustry::Industrial Economics
okr.topicIndustry::Industrial and Consumer Services and Products
okr.unitOffice of the Chief Economist (MNACE)
okr.unitGGSVP-VP
okr.unitSD Practice Group - IFC
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relation.isAuthorOfPublication.latestForDiscovery80e2e087-17b5-5934-9ff6-34ceb2ef6223
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