Abstract
References
- Arellano, M., & Bond, S. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. The review of economic studies, 58(2), 277-297.
Beyond Income Constraints: Green Economy Transitions and Sustainable Development in Emerging Economies
Abstract
This study examines the patterns, determinants, and implications of green economy performance across 93 developing countries using data from the Global Green Economy Index (GGEI). Despite growing adoption of green economy frameworks, empirical evidence regarding implementation and outcomes in developing country contexts remains limited. Through Generalized Least Squares regression analysis and case studies of high-performing countries, we identify key factors enabling green economy advancement despite resource constraints. Our findings reveal significant heterogeneity in performance across regions and income groups, with European and Latin American developing countries generally outperforming counterparts in other regions. Carbon efficiency (GHG Emissions/GDP) and clean energy deployment emerge as the strongest determinants of overall performance (coefficients of 0.148 and 0.086 respectively, p<0.05), while governance quality demonstrates consistently significant associations across all model specifications. Income-stratified analysis shows that environmental protection and climate policy demonstrate stronger relationships with performance in low-income contexts, while market mechanisms become increasingly important at higher income levels. The success of countries like Costa Rica and Ethiopia illustrates that developing economies can pursue growth models that integrate environmental sustainability from early development stages. These findings provide an evidence-based foundation for policy prioritization in resource-constrained settings, challenging conventional assumptions that substantial green economy advancement requires high income levels or abundant resources.
Keywords
Green Economy Sustainable Development Developing Countries Environmental Policy Climate Change Mitigation
References
- Arellano, M., & Bond, S. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. The review of economic studies, 58(2), 277-297.
Details
| Primary Language | English |
|---|---|
| Subjects | Strategy, Management and Organisational Behaviour (Other) |
| Journal Section | Research Article |
| Authors | |
| Publication Date | August 31, 2025 |
| Submission Date | May 6, 2025 |
| Acceptance Date | July 8, 2025 |
| Published in Issue | Year 2025 Volume: 5 Issue: Special Issue (SI) IXASC 2025 |
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