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α: calibrated so average coauthorship-adjusted count equals average raw count
The low-carbon transition is a specific type of rapid structural change where low-emission industries grow and high-emission industries decline due to deliberate policies, changing preferences and technological change. Developing countries’ macroeconomic exposure to this transition depends upon their reliance on carbon-intensive industries as a source of foreign currency, fiscal revenue, employment and wage income. Identifying these different dimensions of countries’ exposure is important because different green policies need to be applied in different contexts, and the results of these policies will be more or less effective according to countries’ idiosyncrasies.