Rethinking Policy Intervention for the Transition towards Competitive Trade-Led Green Growth

Bhisma K. Bhusal (), James Wilson and Susana Franco ()
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Susana Franco: Orkestra - Basque Institute of Competitiveness

No 2014R02, Working Papers from Orkestra - Basque Institute of Competitiveness

Abstract: A neo-classical trade-led growth model supported by rapid technological advancement and the WTO regime has been instrumental to achieving higher growth and prosperity during the last few decades. However, it struggles to cope with critical societal challenges such as environmental degradation, inequality, social disharmony and poor quality of life. The green growth approach is gaining momentum to overcome these issues. Since two thirds of world production is traded, trade should be competitive, inclusive and environmentally sustainable in a green growth regime. Through an extensive review of trade and competitiveness theories, alongside the human development and environmental sustainability literature, the paper analyses three trade-offs: sustainability-competitiveness; inclusiveness-sustainability; and inclusiveness-competitiveness. From this analysis a core strategy mix for transition to competitive, trade-led green growth is identified, setting up an agenda for future research into the role of systems of policy instruments/incentives in catalysing this transition.

Date: 2014-07-21
New Economics Papers: this item is included in nep-cse and nep-int
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