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PRWP

Reproducibility package for Impact of temperature uncertainty on firm growth: A grid-level analysis

2024
Get Reproducibility Package
Reference ID
RR_WLD_2024_228
DOI
https://doi.org/10.60572/nzhy-w505
Author(s)
Jangho Yang, Christian Schoder
Collections
World Bank Policy Research Working Papers
Metadata
JSON
Created on
Dec 09, 2024
Last modified
Dec 09, 2024
  • Overview
  • Reproducibility Package
  • Description
  • Scope and coverage
  • Disclaimer
  • Access and rights
  • Contacts
  • Information on metadata
  • Citation

    • Overview

    Abstract

    This study examines the impact of temperature uncertainty on firm fixed capital growth using a unique dataset that merges extensive firm-level financial data with detailed grid-level weather data.
    Our analysis reveals a strong negative relationship between temperature uncertainty and fixed capital growth. Furthermore, the impact varies significantly across industries with differing levels of investment irreversibility and among countries with varying income levels. Specifically, firms in industries characterized by high investment irreversibility and those operating in higher-income countries experience more pronounced declines in fixed asset growth due to temperature uncertainty.

    Reproducibility Package

    Scripts
    Get Reproducibility Package
    Title
    Reproducibility package (partial data and code) for Impact of temperature uncertainty on firm growth: A grid-level analysis
    Date
    2024-12
    Dependencies
    All dependencies are stored on the renv.lock file.
    Notes
    Computational reproducibility verified by the Development Impact (DIME) Analytics team, World Bank.
    Source code repository
    Repository name URI
    Reproducible Research Repository (World Bank) https://reproducibility.worldbank.org
    Software
    Name
    R
    Version
    4.4.1

    Reproducibility

    Technology environment

    Paper exhibits were reproduced in a computer with the following specifications:
    – OS: Windows 10 Enterprise
    – Processor: Intel(R) Xeon(R) Gold 6226R CPU @ 2.90GHz, 2900 Mhz, 16 Core(s), 16 Logical Processor(s)
    – Memory available: 15.7 GB
    – Software version: R version 4.4.1
    Technology requirements

    ~5 hours run time for Analysis code 3.Analysis/code/
    Reproduction instructions
    • The package consists of three main steps:
      1. Weather Data Construction: Fully reproducible and can be run independently.
      2. Firm-Level Data Construction: Requires Orbis data and cannot be run without access.
      3. Analysis: Replicators used intermediate data provided by the authors, but this data is not included in the package due to restrictions.
    • The Orbis dataset (a restricted, proprietary dataset) is the main data source for this package. As such, Steps 2 and 3 cannot be fully reproduced without access to Orbis. Therefore, The results generated by the replicators (Step 3) are included in the folder:
      3.Analysis/output_temp so that users can compare this against the paper.
    • To fully reproduce the package users need to request access to the Orbis dataset and run Steps 2 and 3. See more details in the README file.

    Data

    Datasets
    Name
    Temperature Gridded Data
    Note
    Source: Berkeley Earth Foundation dataset (BERKEARTH). Location: 1 Weather data construction/source data/. To download the raw data, users can follow the link provided below, create an account, and select the following options: Dataset: BERKEARTH; Region: Global; Variable: Temperature anomaly; Statistic: Maximum; Frequency: Daily; Time Period: 2000 to 2019. Version: v1.0
    Access policy
    Included with the package
    License
    Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International
    License URL
    https://creativecommons.org/licenses/by-nc-sa/4.0/deed.en
    Data URL
    https://cds.climate.copernicus.eu/datasets/insitu-gridded-observations-global-and-regional?tab=download
    Name
    Orbis
    Note
    Source: Orbis data, administered by Bureau van Dijk. Accessed via: Wharton Research Data Services (WRDS) license, University of Waterloo. Location: - `2.Firm-level data construction and merging/source_data/Location_city.csv` - `3.Analysis/orbis_summ.csv` - `3.Analysis/orbis_summ_nace.csv` Note: This dataset is restricted and therefore not included in the package. - Data covers the period from 2001 to 2019. - The list of countries is stored in `orbis_summ.csv` and `orbis_summ_nace.csv` for reference. For more details, please refer to the README file.
    Access policy
    Restricted and not included in the package
    License URL
    https://www.moodys.com/web/en/us/legal/terms-of-use.html
    Data URL
    https://login.bvdinfo.com/R1/Orbis
    Name
    World Development Indicators
    Note
    Source: World Bank. Location: 2.Firm-level data construction and merging/source data/WorldBank_Deflator.csv. Variable used: GDP Deflator
    Access policy
    Included with the package
    License
    Creative Commons Attribution 4.0 International License (CC BY 4.0)
    License URL
    https://creativecommons.org/licenses/by/4.0/
    Data URL
    https://data.worldbank.org/indicator/NY.GDP.DEFL.KD.ZG
    Name
    World Bank Country and Lending Groups
    Note
    Source: World Bank. Location: 3.Analysis/data/WB_income_level.csv
    Access policy
    Included with the package
    License
    Creative Commons Attribution 4.0 International License (CC BY 4.0)
    License URL
    https://creativecommons.org/licenses/by/4.0/
    Data URL
    https://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groups
    Name
    Google Maps API
    Note
    Source: Google. This dataset was used to retrieve missing locations in the Orbis dataset. The code to retrieve it is included in the package (2.Firm-level data construction and merging/code/1.Location_matching_indexing_WB_vetting.R).
    Access policy
    Included in the package
    License
    Google Maps Platform Terms of Service
    License URL
    https://cloud.google.com/maps-platform/terms/?_gl=1*1nnfdkb*_ga*MTcyODM1MzMzOC4xNzMzNDMwOTM2*_ga_NRWSTWS78N*MTczMzQzMDkzNi4xLjEuMTczMzQzMDkzOC4wLjAuMA..#3-license
    Data URL
    https://developers.google.com/maps/documentation/embed/usage-and-billing#:~:text=Pricing%20for%20the%20Maps%20Embed%20API,-The%20following%20prices&text=All%20Maps%20Embed%20API%20requests,no%20charge%20with%20unlimited%20usage.
    Data statement

    Some data is restricted and is not included in the reproducibility package. For more details, please refer to the README file.

    Description

    Output
    Type
    Working Paper
    Title
    Impact of temperature uncertainty on firm growth: A grid-level analysis
    Authors
    Jangho Yang and Christian Schoder
    Description
    Policy Research Working Paper (PRWP)
    Authors
    Author Affiliation Email
    Jangho Yang University of Waterloo, University of Oxford j634yang@uwaterloo.ca
    Christian Schoder World Bank cschoder@worldbank.org
    Date of production

    2024-11

    Scope and coverage

    Geographic locations
    Location Code
    World WLD
    Keywords
    temperature uncertainty firms’ fixed asset growth investment irreversibility income level heterogeneity

    Disclaimer

    Disclaimer

    The materials in the reproducibility packages are distributed as they were prepared by the staff of the International Bank for Reconstruction and Development/the World Bank. The findings, interpretations, and conclusions expressed in this event do not necessarily reflect the views of the World Bank, the Executive Directors of the World Bank, or the governments they represent. The World Bank does not guarantee the accuracy of the materials included in the reproducibility package.

    Access and rights

    License
    Name URI
    Modified BSD3 https://opensource.org/license/bsd-3-clause/

    Contacts

    Contacts
    Name Affiliation Email
    Reproducibility WBG World Bank reproducibility@worldbank.org

    Information on metadata

    Producers
    Name Abbreviation Affiliation Role
    Reproducibility WBG DIME World Bank - Development Impact Department Verification and preparation of metadata
    Date of Production

    2024-11-26
    Document version

    1

    Citation

    Citation
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