Towards a greener Albania: Balancing economic growth and environmental sustainability through global insights

Mulaj Admir

European Journal of Economics, Law and Social Sciences, 2025, vol. 9, issue 1, 24-45

Abstract: This paper investigates Albania’s economic development trajectory through the lens of sustainable growth, drawing comparisons with nations like South Korea and Costa Rica, which have successfully aligned economic growth with environmental sustainability, while aiming to avoid paths exemplified by Brazil and India. Using econometric models, this study evaluates Albania’s GDP growth dependencies through traditional growth-oriented versus sustainability-focused macroeconomic frameworks, including Green Keynesianism and Ecological Macroeconomics. Key considerations include the Environmental Kuznets Curve (EKC) hypothesis, the role of income in social outcomes, and the principle of strong sustainability in natural capital management. Findings suggest that Albania’s path to sustainable growth will require a multi-faceted approach: reinforcing environmental regulations, incentivizing green technology, fostering international cooperation, and promoting targeted R&D investment. By aligning policies with sustainable practices, Albania has the potential to achieve further economic growth without compromising its environmental assets.

Keywords: Sustainable Development; Environmental Kuznets Curve (EKC); Renewable Energy Integration; Green Keynesianism; Albania; Economic Growth and Environmental Models (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.2478/ejels-2025-0003 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:vrs:ejelss:v:9:y:2025:i:1:p:24-45:n:1003

DOI: 10.2478/ejels-2025-0003

Access Statistics for this article

European Journal of Economics, Law and Social Sciences is currently edited by Lena Hoffman

More articles in European Journal of Economics, Law and Social Sciences from Sciendo
Bibliographic data for series maintained by Peter Golla ().