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A new approach to measuring green GDP: a cross-country analysis

Author

Listed:
  • Saša Stjepanović

    (Juraj Dobrila University of Pula, Croatia)

  • Daniel Tomić

    (Juraj Dobrila University of Pula, Croatia)

  • Marinko Škare

    (Juraj Dobrila University of Pula, Croatia)

Abstract

While the gross national/domestic product (GNP/GDP) index is a highly reliable indicator that reflects economic performance of a country, it still largely ignores the depreciation of assets, non-market economy and especially the damages to the environment caused by growth. Environmental sustainability of economic growth has come to be recognized as one of the most important pillars of sustainable growth and development. In order to tackle many challenges of the so-called green growth and sustainable development we try to build a new/alternative Green GDP indicator that should give us a clearer perspective of the consequences of economic progress by offering a new approach in quantifying the cost of ecological and environmental degradation. The indicator reviews economic growth through the environmental prism without speculating on how economic and social trends will evolve and how these developments will guide policy making in the years to come. We are well conscious that this indicator cannot ideally reflect the genuine status and improvement of national output, however, we see it as an attempt to encourage further discussions on the green growth in a diverse range of developing and developed countries. The results reveal a necessity for a new synergy between economic and environmental concepts, hence this study should be seen as an opportunity, not an obstacle for equitable and sustainable growth/development prospects.

Suggested Citation

  • Saša Stjepanović & Daniel Tomić & Marinko Škare, 2017. "A new approach to measuring green GDP: a cross-country analysis," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 4(4), pages 574-590, June.
  • Handle: RePEc:ssi:jouesi:v:4:y:2017:i:4:p:574-590
    DOI: 10.9770/jesi.2017.4.4(13)
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Wang, Xinxin & Xu, Zeshui & Qin, Yong & Skare, Marinko, 2022. "Innovation, the knowledge economy, and green growth: Is knowledge-intensive growth really environmentally friendly?," Energy Economics, Elsevier, vol. 115(C).
    2. Irina GEORGESCU & Jani KINNUNEN & Armenia ANDRONICEANU & Ane-Mari ANDRONICEANU, 2020. "A Computational Approach to Economic Inequality, Happiness and Human Development," Informatica Economica, Academy of Economic Studies - Bucharest, Romania, vol. 24(4), pages 16-28.
    3. Jiandong Chen & Ming Gao & Shulei Cheng & Yiyin Xu & Malin Song & Yu Liu & Wenxuan Hou & Shuhong Wang, 2022. "Evaluation and drivers of global low-carbon economies based on satellite data," Palgrave Communications, Palgrave Macmillan, vol. 9(1), pages 1-12, December.
    4. Zhi-Jiang Liu & Paula Pypłacz & Marina Ermakova & Pavel Konev, 2020. "Sustainable Construction as a Competitive Advantage," Sustainability, MDPI, vol. 12(15), pages 1-13, July.
    5. Serhiy Lyeonov & Tetyana Pimonenko & Yuriy Bilan & Dalia Štreimikienė & Grzegorz Mentel, 2019. "Assessment of Green Investments’ Impact on Sustainable Development: Linking Gross Domestic Product Per Capita, Greenhouse Gas Emissions and Renewable Energy," Energies, MDPI, vol. 12(20), pages 1-12, October.
    6. Siba Sankar Mohanty & Himanshu Mallik, 2022. "Discounting GDP for Pollution, Waste Generation and Natural Resources Depletion: A Comparative Analysis of selected High, Middle and Low income countries," Journal of Studies in Dynamics and Change (JSDC), ISSN: 2348-7038, Voices of Inclusive Change and Expressions- (VOICE) Trust, Dehradun, Uttarakhand, vol. 9(4), pages 13-27, October-D.
    7. Gao, Ming, 2023. "The impacts of carbon trading policy on China's low-carbon economy based on county-level perspectives," Energy Policy, Elsevier, vol. 175(C).
    8. Pashkevych Maryna & Kharchenko Maryna & Shishkova Nataliia, 2018. "Oval-sustainability in Entrepreneurship," Open Economics, De Gruyter, vol. 1(1), pages 142-153, December.
    9. Suparjo Suparjo & Surya Darma & Nia Kurniadin & Jati Kasuma & Priyagus Priyagus & Dio Caisar Darma & Haryadi Haryadi, 2021. "Indonesia s New SDGs Agenda for Green Growth Emphasis in the Energy Sector," International Journal of Energy Economics and Policy, Econjournals, vol. 11(3), pages 395-402.

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    More about this item

    Keywords

    Green GDP; sustainable economic growth; environment and development;
    All these keywords.

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - 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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