Green Economy: Synthesis Perspective on Economic Growth Implications

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İzmir International Congress on Economics and Administrative Sciences (IZCEAS)
IZCEAS 2018 FULL PAPER BOOK
Green Economy: Synthesis Perspective on Economic Growth Implications

Green Economy: Synthesis Perspective on Economic Growth Implications

Authors : Muhammad Ahmed Butt, Paul Katuse, Juliana M. Namada

Pages : 83-102

View : 84 | Download : 37

Publication Date : 2018-12-31

Abstract :This paper examines the holistic perspective of green economy, from its original theme to pragmatic modeling, negating the myths and analyzing its resultant impact on economic growth, with special consideration for developed as well as developing countries. Critical literature inclusive of theoretical perspectives have been explored using interpretivism research philosophy coupled with archival research strategy, and synthesized to test the green economy predicament confronted by world governments, key decision-makers, and international agencies, that is, achieving sustainable development while fostering economic growth. It is reasonable to construe that transition to green economy, has yielded some positive extrinsic and intrinsic outcomes leading to economic growth. Paradoxically, developing nations are struggling to come to terms with green economy. Misconception related to a trade-off relationship between environment protection and economic growth is perpetuating. It is conclusively inferred that reactive crisis models are imprudent strategy in the green economy policy design. Mammoth efforts are needed to effectively put in action transitioning greener economy interventions especially for developing nations. The value of this study may provide impetus to economists, researchers, and international agencies to undertake further research to investigate objectively based relationship between green economy and economic growth.
Keywords : Economic Growth (EG), Green Economy(GE), Green Transitioning(GT), Sustainable Development(SD)

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