From growth to green growth -- a framework

Stephane Hallegatte, Geoffrey Heal, Marianne Fay () and David Tréguer ()

No 5872, Policy Research Working Paper Series from The World Bank

Abstract: Green growth is about making growth processes resource-efficient, cleaner and more resilient without necessarily slowing them. This paper aims at clarifying these concepts in an analytical framework and at proposing foundations for green growth. The green growth approach proposed here is based on (1) focusing on what needs to happen over the next 5-10 years before the world gets locked into patterns that would be prohibitively expensive and complex to modify and (2) reconciling the short and the long term, by offsetting short-term costs and maximizing synergies and economic co-benefits. This, in turn, increases the social and political acceptability of environmental policies. This framework identifies channels through which green policies can potentially contribute to economic growth. However, only detailed country- and context-specific analyses for each of these channels could reach firm conclusion regarding their actual impact on growth. Finally, the paper discusses the policies that can be implemented to capture these co-benefits and environmental benefits. Since green growth policies pursue a variety of goals, they are best served by a combination of instruments: price-based policies are important but are only one component in a policy tool-box that can also include norms and regulation, public production and direct investment, information creation and dissemination, education and moral suasion, or industrial and innovation policies.

Keywords: Environmental Economics&Policies; Climate Change Economics; Economic Theory&Research; Transport Economics Policy&Planning; Labor Policies (search for similar items in EconPapers)
Date: 2011-11-01
New Economics Papers: this item is included in nep-ene, nep-env, nep-pke, nep-reg and nep-res
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (37)

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Related works:
Working Paper: From Growth to Green Growth - a Framework (2012)
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