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Green Stimulus, Green Recovery and Global Imbalances

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  • Edward B. Barbier, PhD

Abstract

This paper assesses the extent to which G20 green stimulus initiatives enacted during the 2008–9 recession have instigated a global ‘green recovery’, and how further green recovery policy initiatives by the G20 relate to concerns about chronic fiscal deficits and global imbalances. Implementing further green measures will require G20 economies to commit to increased public investments, new pricing policies, improving regulations, more aid disbursements and other policy changes. Although there may be concern that these additional initiatives could worsen the chronic fiscal deficits and structural imbalances, if properly enacted, such a green economic recovery strategy should help alleviate, rather than worsen, unstably large fiscal deficits, long-term real interest rate rises and inflation, and global imbalances.

Suggested Citation

  • Edward B. Barbier, PhD, 2010. "Green Stimulus, Green Recovery and Global Imbalances," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 11(2), pages 149-177, April.
  • Handle: RePEc:wej:wldecn:420
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    Cited by:

    1. Sam Fankhauser & Frank Jotzo, 2017. "Economic growth and development with low-carbon energy," CCEP Working Papers 1705, Centre for Climate Economics & Policy, Crawford School of Public Policy, The Australian National University.
    2. repec:ilo:ilowps:462097 is not listed on IDEAS
    3. Clemens Heuson & Wolfgang Peters & Reimund Schwarze & Anna-Katharina Topp, 2015. "Investment and Adaptation as Commitment Devices in Climate Politics," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 62(4), pages 769-790, December.
    4. Michael Jacobs, 2012. "Green Growth: Economic Theory and Political Discourse," GRI Working Papers 92, Grantham Research Institute on Climate Change and the Environment.
    5. Mundaca, Luis & Markandya, Anil, 2016. "Assessing regional progress towards a ‘Green Energy Economy’," Applied Energy, Elsevier, vol. 179(C), pages 1372-1394.
    6. Sergey Bobylev & Olga Kudryavtseva & Ekaterina Yakovleva, 2015. "Regional Priorities of Green Economy," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(2), pages 148-160.
    7. De Gobbi, Maria Sabrina., 2011. "Mainstreaming environmental issues in sustainable enterprises : an exploration of issues, experiences and options," ILO Working Papers 994620973402676, International Labour Organization.
    8. Andreas A. Papandreou, 2015. "The Great Recession and the transition to a low-carbon economy," Working papers wpaper88, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.

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