Institute of Economic Research
Topic
Climate change and its impact on the economy EU a Slovakia.
PhD. program
Economics
Year of admission
2025
Name of the supervisor
prof. Ing. Juraj Sipko, PhD., MBA.
Contact:
Receiving school
Národohospodárska fakulta EU
Annotation
Climate change is having an immediate impact on macroeconomic indicators, financial and social stabilities, the real economy, international trade, infrastructure and agriculture, including the health of the population. In addition, climate change will have very negative impact on the elderly and the aging population, increasing mortality. At the macroeconomic level in the monetary field, climate change is expected to lead to higher inflation rates and thus to higher interest rates, a decline in working conditions and a more difficult labour market, a decline in labour productivity and, consequently, a slowdown in economic growth. From a fiscal perspective, climate change is bringing about increased additional expenditure linked to natural disasters, floods, forest fires, and costs related to damage infrastructure. Moreover, it is having a significant impact on the external balance of individual EU countries’ economies.