GLOBAL PROSPERITY IN A WARMING WORLD: EXPLORING GDP PER CAPITA AMID CLIMATE CHANGE.

Growing CO2 emissions contribute to global warming, creating significant challenges for efforts to mitigate climate change and uphold environmental sustainability. A crucial aspect of the discourse on climate change and economics revolves around the intricate relationship between GDP per capita and global temperature. Understanding the nature of this complex link is vital for developing effective solutions that address the diverse issues arising from climate change and foster sustainable growth. This research delves into the issue using panel models and quantile regression on historical data. The findings reveal a positive non-linear relationship between the observed variables. When considering the temporal component, it becomes evident that wealthy countries have experienced less impact from climate change compared to poorer countries. Studies suggest that the optimal temperature for conducting business is 13 degrees Celsius. To navigate the challenges posed by climate change, policymakers should prioritize the shift towards a low-carbon economy, foster international collaboration on climate action, invest in resilient infrastructure, promote sustainable development, and implement adaptable policies for vulnerable areas. These measures are essential for enhancing global prosperity in the face of climate change. [ABSTRACT FROM AUTHOR]