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An empirical survey of the ramifications of a green economy

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  • Almas Heshmati

Abstract

The unprecedented deterioration of the global environment has increased the necessity of relying on green economic policies as critical and effective environmental management tools. The current situation has stimulated extensive research and debate among global interest groups. This in turn has fostered an ever-growing volume of literature that provides a picture of the best measures affecting the establishment of the green economy, including its development and outcomes. This paper provides a survey of the green economy in a form that non-specialist readers will be able to understand. First, it reviews the recent developments in the green economy - its theoretical foundation, political background and developmental strategies towards genuine, sustainable development. It then discusses the circular economy, networks, organisations, policies, infrastructure and measurable expected effects. Since the theoretical and empirical results and findings regarding the green economy and its practice lead to a number of conclusions regarding measuring improvements, outcomes and identifying causal effects, the paper next discusses these. Finally, it provides summaries of current and possible future green development tendencies with a focus on directions, policy, organisations, capacity, areas and interventions and provides extensions that can serve as optimal directions for future research and policy.

Suggested Citation

  • Almas Heshmati, 2018. "An empirical survey of the ramifications of a green economy," International Journal of Green Economics, Inderscience Enterprises Ltd, vol. 12(1), pages 53-85.
    • Handle: RePEc:ids:ijgrec:v:12:y:2018:i:1:p:53-85
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    5. Lejla Terzić, 2023. "Why is the transition to a green economy important for achieving sustainability? A review of some theoretical approaches and empirical research presented in the literature," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 307-332.
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    More about this item

    Keywords

    green economy; green political economy; sustainable development; development strategy; circular economy; green jobs.;
    All these keywords.

    JEL classification:

    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • K32 - Law and Economics - - Other Substantive Areas of Law - - - Energy, Environmental, Health, and Safety Law
    • L72 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Other Nonrenewable Resources
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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