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Green Economy in Sustainable Development and Improvement of Resource Efficiency

Author

Listed:
  • Inesa Mikhno
  • Viktor Koval
  • Galyna Shvets
  • Oksana Garmatiuk
  • Rima Tamošiūnienė

Abstract

In the expansion of volumes of industrial production, there is an increase of anthropogenic influence and deterioration of the external environment that became the reason for the impossibility of a functioning market system without taking into account negative externalities. The article considers the directions and principles of a "green economy" functioning as the basis for further development of society. The current state and trends of the impact of environmental factors on other indicators of quality of life have been analysed and comparative analysis has been made on the example of developed and developing countries. Effective indices and instruments of influence on the level of ecological and economic development and main tendencies and problems arising at the introduction of "green economy", have been considered. The use of indicators that take into account negative externalities, such as the Pigouvian tax, has been demonstrated to be more visible than widely used indices. The losses from the negative impact on the resulting economic indicators have been analysed, and a significant decrease in the per capita GDP level has been proved with the extensive development of the economy.Implications for Central European audience: This paper aims to contribute to the development of a green economy as part of a policy aimed at reducing environmental risks in the process of economic growth. The proposed indicators and tools for influencing the level of environmental and economic development arising from the implementation of the "green economy" as the main vector of sustainable development, which can be used further research and development and can be implemented by European companies.

Suggested Citation

  • Inesa Mikhno & Viktor Koval & Galyna Shvets & Oksana Garmatiuk & Rima Tamošiūnienė, 2021. "Green Economy in Sustainable Development and Improvement of Resource Efficiency," Central European Business Review, Prague University of Economics and Business, vol. 2021(1), pages 99-113.
  • Handle: RePEc:prg:jnlcbr:v:2021:y:2021:i:1:id:252:p:99-113
    DOI: 10.18267/j.cebr.252
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    References listed on IDEAS

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    1. Patrick Schroeder & Kartika Anggraeni & Uwe Weber, 2019. "The Relevance of Circular Economy Practices to the Sustainable Development Goals," Journal of Industrial Ecology, Yale University, vol. 23(1), pages 77-95, February.
    2. D'Amato, D. & Korhonen, J. & Toppinen, A., 2019. "Circular, Green, and Bio Economy: How Do Companies in Land-Use Intensive Sectors Align with Sustainability Concepts?," Ecological Economics, Elsevier, vol. 158(C), pages 116-133.
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    Citations

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    Cited by:

    1. Pavel Pelech, 2023. "Marketing Perspectives on Supply and Demand in the Sharing Economy: Who Are the Target Generations?," Central European Business Review, Prague University of Economics and Business, vol. 2023(3), pages 81-101.
    2. Zhang, Hui & Fahlevi, Mochammad & Aljuaid, Mohammed & Beşer, Nazife Özge & Cabas, Meral & lominchar, Jose, 2024. "A machine learning and quantile analysis of FINTECH and resource efficiency in achieving sustainable development in OECD countries," Resources Policy, Elsevier, vol. 92(C).
    3. Viktor Koval & Piotr Olczak & Nataliia Vdovenko & Olena Boiko & Dominika Matuszewska & Inesa Mikhno, 2021. "Ecosystem of Environmentally Sustainable Municipal Infrastructure in Ukraine," Sustainability, MDPI, vol. 13(18), pages 1-22, September.
    4. Armand Kasztelan, 2021. "On the Road to a Green Economy: How Do European Union Countries ‘Do Their Homework’?," Energies, MDPI, vol. 14(18), pages 1-16, September.
    5. Oleg Bazaluk & Valerii Havrysh & Mykhailo Fedorchuk & Vitalii Nitsenko, 2021. "Energy Assessment of Sorghum Cultivation in Southern Ukraine," Agriculture, MDPI, vol. 11(8), pages 1-22, July.
    6. Tan, Junlan & Su, Xiang & Wang, Rong, 2023. "The impact of natural resource dependence and green finance on green economic growth in the context of COP26," Resources Policy, Elsevier, vol. 81(C).
    7. Zhang, Shuyue & Ramzan, Muhammad & Awosusi, Abraham Ayobamiji & Eweade, Babatunde Sunday & Ojekemi, Opeoluwa Seun, 2024. "Unraveling causal dynamics: Exploring resource efficiency and biomass utilization in Malaysia's context," Renewable Energy, Elsevier, vol. 226(C).
    8. Piotr Olczak & Agnieszka Żelazna & Dominika Matuszewska & Małgorzata Olek, 2021. "The “My Electricity” Program as One of the Ways to Reduce CO 2 Emissions in Poland," Energies, MDPI, vol. 14(22), pages 1-17, November.
    9. Xu, Guoyin & Jiang, Jinde & Wang, Rong, 2022. "The impact of natural resource endowment and transportation infrastructure on China's regional green economic performance in the context of COP26," Resources Policy, Elsevier, vol. 79(C).
    10. Naman Sreen & Swetarupa Chatterjee & Seema Bhardwaj & Asmita Chitnis, 2023. "Reasons and intuitions: extending behavioural reasoning theory to determine green purchase behavior," International Review on Public and Nonprofit Marketing, Springer;International Association of Public and Non-Profit Marketing, vol. 20(2), pages 447-475, June.
    11. Paweł Dziekański & Adam Wyszkowski & Piotr Prus & Andrzej Pawlik & Mansoor Maitah & Magdalena Wrońska, 2022. "Zero Waste as a Determinant of Shaping Green Economy Processes on the Example of Communes of Eastern Poland in 2010–2020," Energies, MDPI, vol. 16(1), pages 1-24, December.
    12. Edyta Bombiak, 2022. "Green Intellectual Capital as a Support for Corporate Environmental Development—Polish Company Experience," Energies, MDPI, vol. 15(9), pages 1-18, April.

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    More about this item

    Keywords

    green economy; Pigouvian tax; negative externalities; resource efficiency;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • 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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