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Why sustainable, inclusive, and resilient investment makes for efficacious post-COVID medicine

Dimitri Zenghelis

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: The global economy is facing an unprecedented challenge, with the risk of a protracted depression following the response to COVID-19. In 2014, I argued here that macroeconomic conditions made it a relatively favorable time to kick-start investments in a resource-efficient, low carbon economy. Yet the opportunity was, for the most part, squandered. Failure to utilize active fiscal policy contributed to growing private indebtedness, limited productivity and wage growth and widened inequality helping erode trust in institutions. All the while, greenhouse gas emissions continued to rise. This time, there are grounds for optimism that a more coordinated response toward generating an ambitious transition to net zero emissions might contribute to a strong, sustainable, and resilient recovery. This article is categorized under: Climate Economics > Economics of Mitigation.

Keywords: Covid; economy; invest; policy; recovery; sustainable (search for similar items in EconPapers)
JEL-codes: J1 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2021-07-01
New Economics Papers: this item is included in nep-ene, nep-env and nep-mac
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Published in Wiley Interdisciplinary Reviews: Climate Change, 1, July, 2021, 12(4). ISSN: 1757-7780

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