CAMBRIDGE, Mass. -- 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. However, this only applies to the world's developing nations; wealthier countries do not appear to be affected by the variations in temperature.