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Which direction for sustainable development? A time series comparison of the impacts of redistributive versus market policies in Bolivia and South Korea

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  • Bell, Karen
  • Hickel, Jason
  • Arbon, Rob
  • Zoomkawala, Huzaifa

Abstract

This article examines two major policy frameworks for achieving sustainable development: the market-based ‘Green Economy’ approach (exemplified by South Korea), and the redistributive ‘Living Well’ approach (exemplified by Bolivia). We compare the two paradigms in qualitative terms using document analysis, and we assess quantitatively how they have fared in terms of delivering progress towards sustainable development in each country. Time series data for the Sustainable Development Index and the Gini index were examined. The results show that, since ‘Living Well’ was initiated, social outcomes have continued to improve in Bolivia and, while emissions and material footprint have increased, they remain low and within or near sustainable boundaries. By contrast, South Korea has regressed in terms of sustainability. Social indicators have improved, but the Green Economy policy has failed to reduce ecological pressures. This raises significant questions about the legitimacy of the Green Economy paradigm as a model for achieving sustainable development.

Suggested Citation

  • Bell, Karen & Hickel, Jason & Arbon, Rob & Zoomkawala, Huzaifa, 2023. "Which direction for sustainable development? A time series comparison of the impacts of redistributive versus market policies in Bolivia and South Korea," LSE Research Online Documents on Economics 125896, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:125896
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    References listed on IDEAS

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    More about this item

    Keywords

    economic growth; environmental policy; equity; socialism; sustainability transitions; well-being;
    All these keywords.

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • 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
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies

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