How Low-Carbon Green Growth Can Reduce Inequalities

Venkatachalam Anbumozhi and Armin Bauer

Macroeconomics Working Papers from East Asian Bureau of Economic Research

Abstract: Half of the world’s population—3 billion people—lives below the poverty line, and Asia has the largest share. In pursuit of sustainable economic development and poverty alleviation, there is great potential among low-income households for green consumption, production, innovation, and entrepreneurial activity. This paper shows how an inclusive green growth model can uplift the poor through entrepreneurship and fiscal policy reforms. To make the case, this paper cites examples of institutions and policies in Asia that have successfully generated and tapped into the potentials of low-income households. Low-income households are recognized as resilient, value-conscious consumers and creative entrepreneurs in the inclusive and green growth paradigm. Low-income households can be the engine of a new development strategy; they can be a source of innovation for providing basic services in a green way. Evidence suggests that, without effective financial systems, not all market actors can sustain their businesses. Therefore, policy interventions are necessary to encourage and financially support enterprises to adopt best available technologies and incorporate innovative practices that are environmentally beneficial. The paper recommends fflexible redistributive and transformative public expenditure schemes and finance sector development to surmount the bottlenecks towards achieving inclusive and green growth.

Keywords: Green growth; low-carbon; Inequality; Asia; low-income households; redistributive and transformative public expenditure schemes; inclusive growth (search for similar items in EconPapers)
JEL-codes: E62 H61 Q2 Q3 Q4 (search for similar items in EconPapers)
Date: 2013-05
New Economics Papers: this item is included in nep-env, nep-mac, nep-pke and nep-sea
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Related works:
Working Paper: How Low-Carbon Green Growth Can Reduce Inequalities (2013)
Working Paper: How Low-Carbon Green Growth Can Reduce Inequalities (2013)
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