Balancing Growth and Green: Strategies for Sustainable Development in Developing Economies

Samuel Yeboah

MPRA Paper from University Library of Munich, Germany

Abstract: In this systematic review, the intricate relationship between growth and sustainability in developing economies is explored, focusing on Sustainable Development Goal 8 (Decent Work and Economic Growth). The research aims to identify strategies that foster economic growth while promoting responsible consumption and production practices, contributing to a more sustainable future for these nations. By conducting a comprehensive literature search using various databases and keywords, relevant studies meeting the inclusion criteria were selected. Through meticulous data extraction, key insights were gathered to analyse the challenges and opportunities faced by developing economies in achieving a balance between economic prosperity and environmental preservation. The findings shed light on a range of sustainable growth strategies, including those promoting decent work opportunities and social welfare while ensuring environmental sustainability. Successful cases of responsible consumption and production practices are also examined, demonstrating the potential for sustainable development. The implications of this systematic review are vital for policymakers, researchers, and stakeholders. Understanding the interconnectedness of growth and sustainability enables decision-makers to devise informed policies and initiatives, guiding developing economies towards green and inclusive pathways of development. This review emphasizes the urgency of achieving SDG 8 and underscores the critical role of developing economies in global sustainability efforts.

Keywords: Sustainable development; economic growth; sustainability; developing economies; responsible consumption; production practices; SDG 8; green pathways; environmental preservation; social welfare. (search for similar items in EconPapers)
JEL-codes: O10 O20 O44 Q56 (search for similar items in EconPapers)
Date: 2023-04-18, Revised 2023-06-20
New Economics Papers: this item is included in nep-agr, nep-ene, nep-env and nep-pke
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