Environmental investment: the most adequate neo-industrial response to the growth dilemma of the economy

Ludmila Kormishkina, Evgenii Kormishkin, Vladimir Gorin, Dmitrii Koloskov () and Ludmila Koroleva
Additional contact information
Ludmila Kormishkina: Ogarev Mordovia State University, Russian Federation
Evgenii Kormishkin: Ogarev Mordovia State University, Russian Federation
Vladimir Gorin: Ogarev Mordovia State University, Russian Federation
Dmitrii Koloskov: Ogarev Mordovia State University, Russian Federation
Ludmila Koroleva: Ogarev Mordovia State University, Russian Federation

Entrepreneurship and Sustainability Issues, 2019, vol. 7, issue 2, 929-948

Abstract: The article justifies the mission of environmental investment in the context of the neo-industrial paradigm of modern development. This approach considers socio-economic development in its organic connection with the environment (the green lifestyle). Environmental investment involves solving the complex growth dilemma of the economy by reducing the negative impacts of the latter on the environment and introducing positive social changes. The authors determined the role of this process in the neo-industrial aspect of economic growth. The goal of this research is to prove the hypothesis of the interinfluence between environmental investment and economic growth. The authors built a multi-factor regression model to analyze the data, which showed a statistically significant relationship between environmental investment and Russia’s GDP growth during 2000–2017. This led to the conclusion that the tightening of environmental policies in Russia is accompanied by not a decrease but an increase in the real GDP. On the basis of tree clustering and k-means clustering, the authors classified the regions of Russia and found that the high level of air pollution is not always accompanied by an increase in investment in environmental protection and three atypical clusters were identified. Moreover, the authors identified the main factors hindering environmental investment in the modern Russian economy, as well as determined the main conditions for its enhancement, which will increase the country’s potential for economic growth in the long run, considering its neo-industrial accumulation.

Keywords: growth dilemma; neo-industrial paradigm of modern development; environmental investment; green (circular) economy; neo-industrial type of economic growth (search for similar items in EconPapers)
JEL-codes: F64 O13 O44 P18 P28 P48 Q51 R11 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://jssidoi.org/jesi/uploads/articles/26/Kormi ... a_of_the_economy.pdf (application/pdf)
https://jssidoi.org/jesi/article/413 (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:ssi:jouesi:v:7:y:2019:i:2:p:929-948

DOI: 10.9770/jesi.2019.7.2(10)

Access Statistics for this article

Entrepreneurship and Sustainability Issues is currently edited by Manuela Tvaronaviciene

More articles in Entrepreneurship and Sustainability Issues from VsI Entrepreneurship and Sustainability Center
Bibliographic data for series maintained by Manuela Tvaronaviciene ().