Macroeconomic assessment of possible Green Recovery scenarios in Visegrad countries
Bence Kiss-Dobronyi (),
Dora Fazekas and
Hector Pollitt
Additional contact information
Bence Kiss-Dobronyi: Cambridge Econometrics, Budapest, Hungary
Society and Economy, 2021, vol. 43, issue 3, 227-252
Abstract:
The article discusses how and why Green Recovery could be beneficial for the Visegrad countries based on a modelling exercise using the E3ME macroeconometric model. Green Recovery is defined as including policies in recovery plans that not only target economic recovery, but also contribute to environmental targets. The paper proposes that a Green Recovery could be valuable and suitable for the region contributing to both restoring employment and boosting economic activity as well as reaching climate goals. This is tested through a macroeconomic simulation, using the E3ME model. E3ME is built on Post-Keynesian economic theory and on econometric estimations of macroeconomic relationships. The results of the analysis focus on three dimensions: (1) social – employment, (2) environmental – level of CO2 emissions and (3) economic activity – gross domestic product (GDP). Outcomes indicate that a green recovery can shorten the time needed for employment and economic recovery as well as contributes to CO2 emission reductions. In Hungary, Czechia and Poland, the impact persists into the long-term; however, the paper also concludes that countries with high reliance on coal (e.g. Poland) could return to coal in the long term if no further policies are introduced.
Keywords: Green Recovery; renewable energy; V4 countries; Covid-19 (search for similar items in EconPapers)
JEL-codes: E62 Q43 Q58 (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations: View citations in EconPapers (1)
Downloads: (external link)
https://doi.org/10.1556/204.2021.00014 (application/pdf)
subscription
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:aka:soceco:v:43:y:2021:i:3:p:227-252
Ordering information: This journal article can be ordered from
Akadémiai Kiadó Zrt., P. O. Box 245, H-1519 Budapest, Hungary
https://akjournals.com/
Access Statistics for this article
Society and Economy is currently edited by Szent-Iványi, Balázs
More articles in Society and Economy from Akadémiai Kiadó, Hungary
Bibliographic data for series maintained by Kriston, Orsolya ().