Growth theory and 'green growth'
The relatively new and still amorphous concept of 'green growth' can be understood as a call for balancing longer-term investments in sustaining environmental wealth with nearer-term income growth to reduce poverty. We draw on a large body of economic theory available for providing insight...
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| Veröffentlicht in: | Oxford review of economic policy 2014-09, Vol.30 (3), p.423-446 |
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| container_title | Oxford review of economic policy |
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| creator | Smulders, Sjak Toman, Michael Withagen, Cees |
| description | The relatively new and still amorphous concept of 'green growth' can be understood as a call for balancing longer-term investments in sustaining environmental wealth with nearer-term income growth to reduce poverty. We draw on a large body of economic theory available for providing insights on such balancing of income growth and environmental sustainability. We show that there is no a priori assurance of substantial positive spillovers from environmental policies to income growth, or for a monotonie transition to a 'green steady state' along an optimal path. The greenness of an optimal growth path can depend heavily on initial conditions, with a variety of different adjustments occurring concurrently along an optimal path. Factor-augmenting technical-change targeting at offsetting resource depletion is critical to sustaining long-term growth within natural limits on the availability of natural resources and environmental services. |
| doi_str_mv | 10.1093/oxrep/gru027 |
| format | Article |
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| identifier | ISSN: 0266-903X |
| ispartof | Oxford review of economic policy, 2014-09, Vol.30 (3), p.423-446 |
| issn | 0266-903X 1460-2121 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_1663903916 |
| source | PAIS Index; JSTOR Archive Collection A-Z Listing; Oxford University Press Journals All Titles (1996-Current) |
| subjects | Ecological sustainability Economic growth theories Economic theory Environmental economics Environmental policy Environmental quality Environmental technology Fossils Green economics Growth models Growth theory Natural resources Pollution control Poverty Renewable energy Resource economics Social policy Studies Sustainable development |
| title | Growth theory and 'green growth' |
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