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Published in:
Green Growth: Managing the Transition to Sustainable Economies Read chapter Read first chapter

2012 | OriginalPaper | Chapter

6. Green Growth Index and Policy Feedback

Authors : Taek-Whan Han, Geum-Soo Kim, Dongsoon Lim

Published in: Green Growth: Managing the Transition to a Sustainable Economy

Publisher: Springer Netherlands

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Abstract

Using a system dynamics model, we compute the realized environmental investment rate. Using this rate as the weight, the green welfare index is computed from the consumption index and environmental services index. The environmental investment rate that maximizes the present value of the future stream of green welfare indices is estimated and called the optimal environmental investment rate. The normalized gap between these two rates is called ‘green growth gap,’ which gauges the deviation of the economy from the dynamically optimal path. The Green Growth Index is also developed to express this concept in a more digestible manner. These concepts and index are expected to be useful in the performance assessment of the national green growth strategy. This chapter provides a system dynamics model that can serve as a basis for measurement and policy feedback for green growth as a national strategy of Korea.

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previous chapter Analysis of Technical Efficiency and Productivity Using Meta-frontier-Manufacturing Industries in Korea and China
next chapter Environmental Impacts of Korea-Europe Automotive Supply Chains; Moving Towards a More Sustainable Model
Appendix
Available only for authorised users
Footnotes
1
See Chung (2008).
 
2
The Four Major River restoration Project is a multi-purpose project being concurrently implemented in Han, Nakdong, Geum and Youngsan Rivers. This project was initiated as part of the Green New Deal Policy of the Korean government and its estimated total cost is 22.2 trillion won, approximately 17.3 billion USD. For more information see Han et al. (2011).
 
3
For this line of discussions, refer to Gerlagh and Keyzer (2003), Gerlagh and van der Zwaan (2003), and Goulder and Schneider (1999). Also refer to Cho and Na (2004) for a discussion in the Korean context.
 
4
The dynamic policy index (GDPI) is combined with green welfare index (GWPI) to compute green growth index. More detail is explained in Sect. 3.4.
 
5
Green welfare considers both GDP and environmental service together. GWI is the measurement for green welfare.
 
6
For the complete equations of the model, see the Appendix.
 
7
Environmental activity means the whole environment related activities, which includes environmental augmentation (Env_Augmentation_expenditure), environmental R&D (Environmental_R&D)and capital formation (Capital_formation).
 
8
For more detail see Han et al. (2009).
 
9
“Institutions” may include regulation, emission trading, carbon tax, or national GHG reduction target setting, etc.
 
Literature
Cho, K.-Y., & Na, I. (2004). GHG mitigation policies and technological innovation. Korea Economic Review, 51(3), 263–294 (in Korean).
Chung, R. K. (2008). Green growth: Opportunities for bioenergy development in Asia and the Pacific, ppt presentation file, UNESCAP.
Gerlagh, R., & Keyzer, M. A. (2003). Efficiency of conservationist measures: An optimist viewpoint. Journal of Environmental Economics and Management, 46, 310–333.CrossRef
Gerlagh, R., & van der Zwaan, B. (2003). Gross world product and consumption in a global warming model with endogenous technological change. Resource and Energy Economics, 25, 35–57.CrossRef
Goulder, L. H., & Schneider, S. H. (1999). Induced technological change and the attractiveness of CO2 abatement policies. Resource and Energy Economics, 21, 211–253.CrossRef
Han, T.-W., Kim, G.-S., & Lim, D. (2009). Development of green growth index for the effective implementation of green growth strategy. GwaCheon: Ministry of Environment. (in Korean).
Han, T.-W., Lim, D., & Lee, C.-H. (2011). Green growth: Climate change (Green forum 2010, Vol. 3). Seoul: NRCS/Random House Korea.
UNEP. (2007). Overview of Republic of Korea’s National Strategy for green growth, prepared by the United Nations Environment Programme, as part of its Green Economy Initiative. Geneva: UNEP.
Metadata
Title
Green Growth Index and Policy Feedback
Authors
Taek-Whan Han
Geum-Soo Kim
Dongsoon Lim
Copyright Year
2012
Publisher
Springer Netherlands
Book
Green Growth: Managing the Transition to a Sustainable Economy

Print ISBN: 978-94-007-4416-5

Electronic ISBN: 978-94-007-4417-2

Copyright Year: 2012

DOI
https://doi.org/10.1007/978-94-007-4417-2_6