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Green Stimulus, Green Recovery and Global Imbalances

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  • Edward B. Barbier

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, 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. Fankhauser, Samuel & Jotzo, Frank, 2017. "Economic growth and development with low-carbon energy," LSE Research Online Documents on Economics 86850, London School of Economics and Political Science, LSE Library.
    2. Chortareas, Georgios & Logothetis, Vassilis & Papandreou, Andreas, 2018. "Public Opinion, Elections, and Environmental Fiscal Policy," Cardiff Economics Working Papers E2018/9, Cardiff University, Cardiff Business School, Economics Section.
    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. Yanguas Parra, Paola & Hauenstein, Christian & Oei, Pao-Yu, 2021. "The death valley of coal – Modelling COVID-19 recovery scenarios for steam coal markets," Applied Energy, Elsevier, vol. 288(C).
    5. 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.
      • Bobylev Sergey Nikolayevich & Kudryavtseva Olga Vladimirovna & Yakovleva Yekaterina Yuryevna, 2015. "Regional priorities of green economy," Экономика региона, CyberLeninka;Федеральное государственное бюджетное учреждение науки «Институт экономики Уральского отделения Российской академии наук», issue 2, pages 148-159.
    6. Jesse M. Keenan & Benjamin D. Trump & William Hynes & Igor Linkov, 2021. "Exploring the Convergence of Resilience Processes and Sustainable Outcomes in Post-COVID, Post-Glasgow Economies," Sustainability, MDPI, vol. 13(23), pages 1-12, December.
    7. Mealy, Penny & Teytelboym, Alexander, 2022. "Economic complexity and the green economy," Research Policy, Elsevier, vol. 51(8).
    8. Zaman, Kazi Arif Uz & Kalirajan, Kaliappa, 2019. "Strengthening of energy security & low-carbon growth in Asia: Role of regional energy cooperation through trade," Energy Policy, Elsevier, vol. 133(C).
    9. 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.
    10. Bobylev, S. N. & Kudryavtseva, O. V. & Yakovleva, Ye. Yu., 2015. "Green Economy: Regional Priorities," R-Economy, Ural Federal University, Graduate School of Economics and Management, vol. 1(2), pages 268-279.
    11. Mealy, Penny & Teytelboym, Alexander, 2017. "Economic Complexity and the Green Economy," INET Oxford Working Papers 2018-03, Institute for New Economic Thinking at the Oxford Martin School, University of Oxford, revised Feb 2019.
    12. Moszoro Marian W., 2024. "The direct employment impact of public investment," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 60(1), pages 59-74, March.
    13. 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.
    14. repec:ilo:ilowps:462097 is not listed on IDEAS
    15. Michael Jacobs, 2012. "Green Growth: Economic Theory and Political Discourse," GRI Working Papers 92, Grantham Research Institute on Climate Change and the Environment.
    16. Mundaca, Luis & Markandya, Anil, 2016. "Assessing regional progress towards a ‘Green Energy Economy’," Applied Energy, Elsevier, vol. 179(C), pages 1372-1394.
    17. Andrew, Kevin & Majerbi, Basma & Rhodes, Ekaterina, 2022. "Slouching or speeding toward net zero? Evidence from COVID-19 energy-related stimulus policies in the G20," Ecological Economics, Elsevier, vol. 201(C).

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