The global greenhouse effect

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Abstract
The global warming caused by emissions of CO2 and trace gases is expected to cause shifts in climatic zones and rainfall patterns, and possibly thermal expansion of oceans. There are likely to be impacts on global agriculture and the food security of low‐income countries, as well as disruptions to major ecosystem complexes such as forests. Rising sea levels will threaten low‐lying regions, coastal zones and islands. Policy‐makers will therefore have to consider the relative costs and benefits of ‘doing nothing’, preventive measures and adaptive responses. Economics should play a key and innovative role in this analysis.