Sustainable Development Under Impact of the Crisis – Global and National Dimensions

Petar Djukic ()
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Petar Djukic: University of Belgrade, Faculty of Technology and Metallurgy

Economic Analysis, 2012, vol. 45, issue 1-2, 1-18

Abstract: Economic crisis threatens the cardinal principles of all strategic development documents, including the concept and practice of sustainable development. Its implementation, by definition, depends on the current economic performance and trends which are defined by many determinants that, in the short to medium term, can not be totally predicted. However, sustainability as a complex category also refers to the reaction of system in crisis situations. Does the company, city, transport system and energy function in conditions of natural disaster, even wars – it has always been considered the a key issue of social order and organization and preparation of an emergency, then in the strict sense, it can not be put in the context of sustainability. The concept of sustainable development means peace and co-operative conditions, but should not exclude the possibility of response to emergencies. Moreover, sustainable development is the characteristic of a social system that easily exceeds the emergency, but which also does not turn current economic trends and socio-political processes from the direction that ensures the long term social and environmental compatibility with economic and technological processes and ways of life style. The global economic crisis has placed priority short-term goals such as output growth, investment and employment, and often the survival of entire national economies and regions, the monetary area and other communities. Serbia is facing difficult challenges that are not only affecting the sustainability of economic growth but also, despite the conventional view, there are indications for a different model of growth and development, based on new structural conditions and opportunities provided through the „green“ economy, the new „green“ investments, energy efficiency, social and cultural inclusion.

Keywords: Global economic crisis; sustainable development; economic sustainability; priority of development goals; employment; green economics; energy efficiency; social inclusion (search for similar items in EconPapers)
JEL-codes: Q01 Q56 (search for similar items in EconPapers)
Date: 2012
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