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Environmental investment: the most adequate neo-industrial response to the growth dilemma of the economy

Author

Listed:
  • Ludmila Kormishkina

    (Ogarev Mordovia State University, Russian Federation)

  • Evgenii Kormishkin

    (Ogarev Mordovia State University, Russian Federation)

  • Vladimir Gorin

    (Ogarev Mordovia State University, Russian Federation)

  • Dmitrii Koloskov

    (Ogarev Mordovia State University, Russian Federation)

  • Ludmila Koroleva

    (Ogarev Mordovia State University, Russian Federation)

Abstract

The article justifies the mission of environmental investment in the context of the neo-industrial paradigm of modern development. This approach considers socio-economic development in its organic connection with the environment (the green lifestyle). Environmental investment involves solving the complex growth dilemma of the economy by reducing the negative impacts of the latter on the environment and introducing positive social changes. The authors determined the role of this process in the neo-industrial aspect of economic growth. The goal of this research is to prove the hypothesis of the interinfluence between environmental investment and economic growth. The authors built a multi-factor regression model to analyze the data, which showed a statistically significant relationship between environmental investment and Russia’s GDP growth during 2000–2017. This led to the conclusion that the tightening of environmental policies in Russia is accompanied by not a decrease but an increase in the real GDP. On the basis of tree clustering and k-means clustering, the authors classified the regions of Russia and found that the high level of air pollution is not always accompanied by an increase in investment in environmental protection and three atypical clusters were identified. Moreover, the authors identified the main factors hindering environmental investment in the modern Russian economy, as well as determined the main conditions for its enhancement, which will increase the country’s potential for economic growth in the long run, considering its neo-industrial accumulation.

Suggested Citation

  • Ludmila Kormishkina & Evgenii Kormishkin & Vladimir Gorin & Dmitrii Koloskov & Ludmila Koroleva, 2019. "Environmental investment: the most adequate neo-industrial response to the growth dilemma of the economy," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(2), pages 929-948, December.
    • Handle: RePEc:ssi:jouesi:v:7:y:2019:i:2:p:929-948
    DOI: 10.9770/jesi.2019.7.2(10)
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    1. Jurijs Baltgailis, 2019. "The issues of increasing the effectiveness of teaching comparative economics," Insights into Regional Development, VsI Entrepreneurship and Sustainability Center, vol. 1(3), pages 190-199, September.
    2. Jurijs Baltgailis, 2019. "The issues of increasing the effectiveness of teaching comparative economics," Post-Print hal-02188839, HAL.
    3. Ayres, Robert U., 2008. "Sustainability economics: Where do we stand?," Ecological Economics, Elsevier, vol. 67(2), pages 281-310, September.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Mohd Zul Izwan Aliyasak & Mohd Yahya Mohd Hussin & Fidlizan Muhammad & Azila Abdul Razak, 2019. "Mosquepreneur in Perak: Reality or Fantasy?," Research in World Economy, Research in World Economy, Sciedu Press, vol. 10(5), pages 53-62, December.
    2. Rasa Smaliukiene & Gintaras Labutis & Ausrius Juozapavicius, 2020. "Pro-Environmental Energy Behavior in the Military: Assessing Behavior Change Factors at a Selected Military Unit," Energies, MDPI, vol. 13(1), pages 1-12, January.
    3. Ludmila Aleksandrovna Kormishkina & Evgenii Danilovich Kormishkin & Oksana Sergeevna Sausheva & Dmitrii Aleksandrovich Koloskov, 2021. "Economic Incentives for Environmental Investment in Modern Russia," Sustainability, MDPI, vol. 13(21), pages 1-12, October.

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    More about this item

    Keywords

    growth dilemma; neo-industrial paradigm of modern development; environmental investment; green (circular) economy; neo-industrial type of economic growth;
    All these keywords.

    JEL classification:

    • F64 - International Economics - - Economic Impacts of Globalization - - - Environment
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • P18 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Energy; Environment
    • P28 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Natural Resources; Environment
    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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