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Fast and Sustainable Development Space: An Integrated Approach

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  • Ly Dai Hung

    (Vietnam Institute of Economics, Hanoi, Vietnam)

Abstract

Objective: The paper investigates the fast and sustainable development, then, discusses some policy implications to enhance the development process. The fast development is based on the economic growth rate combined with income distribution, while the sustainable development is based on the genuine savings per GDP and the biocapacity reserve. Methodology: The research method employs a quantitative analysis on a data sample of 172 economies over the 1992-2016 period. The empirical evidence is based on both a cross-section regression with each variable is average over time and a panel-data fixed-effect regression which captures the constant heterogeneity across countries. Findings: The empirical evidence records that the impact of economic growth rate on the income inequality follows an inverted-U-shaped curve or Kuznet curve, while its impact on the genuine savings per GDP and biocapacity reserve follows a linear increasing line. Based on this evidence, we also show that only 27/172 economies have available space to raise its economic growth rate over the fast and weak sustainable development path. And only 15/172 economies have available space to raise its economic growth rate along the fast and strong sustainable development path. Implications: The results suggest that an economy can first attain the objective of fast and weak sustainable development, then, the fast and strong sustainable development. The transmission from fast and weak sustainable development to the fast and strong sustainable develoment is difficult, thus, needs the appropriated public policy architecture.

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  • Ly Dai Hung, 2021. "Fast and Sustainable Development Space: An Integrated Approach," Working Papers hal-03408272, HAL.
    • Handle: RePEc:hal:wpaper:hal-03408272
    Note: View the original document on HAL open archive server: https://hal.science/hal-03408272
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    Cited by:

    1. Ly Dai Hung, 2022. "Fast and Sustainable Development in Digital Revolution: An Application of Kuznets Curve," Working Papers hal-03863049, HAL.

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    More about this item

    Keywords

    Fast and Sustainable Development; Cross-Section Analysis; Public Policy;
    All these keywords.

    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models
    • H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household

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