Stranded economies? Green transition opportunities for brown industries
The transition away from a polluting, fossil-fuel powered economy towards a cleaner production system will create winners and losers in the global trade system. We compile a list of traded products whose use is bound to decline if we are to mitigate climate change, and highlight which countries are most at risk of seeing their productive capabilities “stranded”. Using methods from economic geography and complexity, we then show that countries exporting a high number of brown products, especially technologically sophisticated ones, may find it relatively easy to transition. Conversely, those relying on few, low-complexity brown products for a large percentage of export volume face a dearth of nearby diversification opportunities. Our results suggest that export complexity and diversity play a key role in mitigating transition risk.
Date: 16 November 2022, 14:30 (Wednesday, 6th week, Michaelmas 2022)
Venue: Manor Road Building, Manor Road OX1 3UQ
Venue Details: Seminar Room G and online via Zoom
Speaker: Pia Andres (Oxford Martin School / LSE)
Organising department: Institute for New Economic Thinking
Organiser: Dorothy Nicholas (INET Oxford)
Organiser contact email address: complexity@inet.ox.ac.uk
Hosts: Francois Lafond (INET Oxford), Prof. Doyne Farmer
Part of: INET Complexity Economics Seminars
Booking required?: Required
Booking url: https://www.inet.ox.ac.uk/events/stranded-economies-green-transition-opportunities-for-brown-industries/
Audience: Public
Editors: Susan Mousley, Dorothy Nicholas