07 Aug '12, 6pm

A new study finds that hotter weather hurts economies in developing countries: So that's great.

A reliable indicator of economic turmoil. (Photo by Joe Chung .) An increase in temperature has a measurable impact on national economic health. Imagine how terrible it would be if we were expecting temperatures to rise significantly over huge swaths of the world! Even temporary rises in local temperatures significantly damage long-term economic growth in the world’s developing nations, according to a new study co-authored by an MIT economist. Looking at weather data over the last half-century, the study finds that every 1-degree-Celsius increase in a poor country, over the course of a given year, reduces its economic growth by about 1.3 percentage points. … One consequence of this, borne out in the data, is that the higher temperatures in a given year affect not only a country’s economic activity at the time, but its growth prospects far into the future; by the numbers, g...

Full article: http://grist.org/news/temperature-increases-result-in-eco...

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