@article{Kingwell:137961,
      recid = {137961},
      author = {Kingwell, Ross S.},
      title = {Is Hanrahan sort of right? Will climate change ruin us  all?},
      address = {2006-02},
      number = {417-2016-26417},
      pages = {22},
      year = {2006},
      abstract = {The possible impacts of projected climate change on  Australian agriculture
are outlined. The characteristics of  climate change that underpin the
creation of economic  impacts for agriculture are also described and
discussed.  Climate change is shown to generate spatially and  temporally
diverse impacts, with many regions likely to  experience increased downside
risk in agricultural  production. Some regions, such as south-west Australia,
are  projected to be particularly at risk of adverse outcomes  associated with
climate change.
The likely gradual  unfolding of climate change, however, may provide
farmers  in many regions and industries with sufficient time to  utilise or
develop adaptation strategies. Many of these  strategies are likely to be
based on farmers’ current  responses to climate variability. Investment in
R&D and  innovation are likely to be important ingredients in  facilitating
farmers’ adaptation to climate change.
Farmers  are likely to face additional costs of capital adjustment  due to
climate change and investment in long-lived  climate-dependent agricultural
assets such as irrigation  infrastructure, new vineyards and timber
plantations will  become more problematic. Investing in ecological assets  in
rural regions, especially where these assets may become  stranded by
climate change, is also increasingly made  problematic.},
      url = {http://ageconsearch.umn.edu/record/137961},
      doi = {https://doi.org/10.22004/ag.econ.137961},
}