EMPIRICAL APPROACH OF THE EFFECTS OF CLIMATE CHANGE ON THE ECONOMY: EVIDENCE FROM WESTERN BALKANS.

Undoubtedly, global warming is one of the main debatable topics among politicians, scholars, academicians, being discussedeverywhere and by everyone. Having into consideration that one of the main factors of the global warming are the greenhouse gas emissions, where carbon dioxide represents 76% of these emissions, the main aim of this paper is to analyse the effects of the CO2 emissions as well as other greenhouse gas emissions on the economy and society. In addition, a panel analysis has been conducted, where OLS, Fixed and Random effects models are used in order to check the impact of the CO2 emissions on the GDP per capita of developing countries of Western Balkans region, for the last three decades. Finally, the main conclusions and consequences from the negative impact of the CO2 emissions on the society, economy and growth of the developing countries have been highlighted as well as several important suggestions have been stated for emphasising and addressing the problems that we will be facing soonbecause of the global warming. [ABSTRACT FROM AUTHOR]