というNBER論文をラグラム・ラジャンらが上げている(ungated版や簡単な解説へのシカゴ大のリンク)。原題は「Finance and Climate Resilience: Evidence from the long 1950s US Drought」で、著者はRaghuram Rajan(シカゴ大)、Rodney Ramcharan(南カリフォルニア大)。 以下はその要旨。 We study how the availability of credit shapes adaptation to a climatic shock, specifically, the long 1950s US drought. We find that bank lending, net immigration, and population growth decline sharply in dr