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Global Economic Sustainability Indicator: Analysis and Policy Options for the Copenhagen Process

  • Paul J.J. Welfens

    ()

    (Europäisches Institut für Internationale Wirtschaftsbeziehungen (EIIW))

  • Jens K. Perret

    ()

    (Europäisches Institut für Internationale Wirtschaftsbeziehungen (EIIW))

  • Deniz Erdem

    ()

Summary: The traditional discussion about CO2 emissions and greenhouse gases as a source of global warming has been rather static, namely in the sense that innovation dynamics have not been considered much. Given the global nature of the climate problem, it is natural to develop a more dynamic Schumpeterian perspective and to emphasize a broader international analysis, which takes innovation dynamics and green international competitiveness into account: We discuss key issues of developing a consistent global sustainability indicator, which should cover the crucial dimensions of sustainability in a simple and straightforward way. The basic elements presented here concern genuine savings rates – covering not only depreciations on capital, but on the natural capital as well -, the international competitiveness of the respective country in the field of environmental ("green") goods and the share of renewable energy generation. International benchmarking can thus be encouraged and opportunities emphasized - an approach developed here. This new EIIW-vita Global Sustainability Indicator is consistent with the recent OECD requirements on composite indicators and thus, we suggest new options for policymakers. The US and Indonesia have suffered from a decline in their performance in the period 2000-07; Germany has improved its performance as judged by the new composite indicator whose weights are determined from factor analysis. The countries covered stand for roughly 91% of world GDP, 94% of global exports, 82% of global CO2 emissions and 68% of the population.

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Paper provided by Universitätsbibliothek Wuppertal, University Library in its series EIIW Discussion paper with number disbei174.

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Length: 62 Pages
Date of creation: Feb 2010
Date of revision:
Handle: RePEc:bwu:eiiwdp:disbei174
Contact details of provider: Web page: http://elpub.bib.uni-wuppertal.de

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  1. Gernot Klepper & Sonja Peterson, 2006. "Emissions Trading, CDM, JI, and More: The Climate Strategy of the EU," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 1-26.
  2. Betina Dimaranan & Elena Ianchovichina & Will Martin, 2009. "How will growth in China and India affect the world economy?," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 145(3), pages 551-571, October.
  3. Wolfgang Keller, 2001. "International Technology Diffusion," NBER Working Papers 8573, National Bureau of Economic Research, Inc.
  4. Lucas Bretschger, 2010. "Sustainability economics, resource efficiency, and the Green New Deal," International Economics and Economic Policy, Springer, vol. 7(2), pages 187-202, August.
  5. Betsey Stevenson & Justin Wolfers, 2008. "Economic Growth and Subjective Well-Being: Reassessing the Easterlin Paradox," CESifo Working Paper Series 2394, CESifo Group Munich.
  6. repec:cup:cbooks:9780521297615 is not listed on IDEAS
  7. Walker, William, 1986. "Information technology and energy supply," Energy Policy, Elsevier, vol. 14(6), pages 466-488, December.
  8. John L. Enos, 1962. "Invention and Innovation in the Petroleum Refining Industry," NBER Chapters, in: The Rate and Direction of Inventive Activity: Economic and Social Factors, pages 299-322 National Bureau of Economic Research, Inc.
  9. Paul J.J. Welfens, 2009. "Explaining oil price dynamics," EIIW Discussion paper disbei169, Universitätsbibliothek Wuppertal, University Library.
  10. William D. Nordhaus, 2006. "The "Stern Review" on the Economics of Climate Change," NBER Working Papers 12741, National Bureau of Economic Research, Inc.
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