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Exiting the crisis in the right direction: A sustainable and shared prosperity plan for Europe

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Listed author(s):
  • Spencer, Thomas
  • Lucas, Chancel
  • Emmanuel, Guerin

Abstract

This paper investigates the synergies between the policy response to the European crisis and the green economy. We begin by examining the causes of the European crisis, including the potential role played by resource constraints, in particular the rise in oil prices 2004-2008. Then we develop a matrix to assess the synergies between the crisis response and the green economy. We survey the literature on three green economy instruments, namely environmental fiscal reform, green investment and environmental innovation. We then assess their coherence with and potential contribution to the current crisis response.

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File URL: https://mpra.ub.uni-muenchen.de/38802/1/MPRA_paper_38802.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 38802.

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Date of creation: 14 May 2012
Handle: RePEc:pra:mprapa:38802
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Keywords: European crisis; green economy; european climate policy; environmental fiscal reform; green stimulus;

Find related papers by JEL classification:

  • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
  • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
  • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
  • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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  1. Benedicta Marzinotto, 2011. "A European fund for economic revival in crisis countries," Policy Contributions 504, Bruegel.
  2. Hallegatte, Stephane & Heal, Geoffrey & Fay, Marianne & Treguer, David, 2011. "From growth to green growth -- a framework," Policy Research Working Paper Series 5872, The World Bank.
  3. Baffes, John & Haniotis, Tassos, 2010. "Placing the 2006/08 commodity price boom into perspective," Policy Research Working Paper Series 5371, The World Bank.
  4. European Commission, 2013. "Taxation trends in the European Union: 2013 edition," Taxation trends 2013, Directorate General Taxation and Customs Union, European Commission.
  5. Zsolt Darvas & Jean Pisani-Ferry, 2011. "Europe's growth emergency," Policy Contributions 623, Bruegel.
  6. Nick Johnstone & Ivan Haščič & David Popp, 2010. "Renewable Energy Policies and Technological Innovation: Evidence Based on Patent Counts," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 45(1), pages 133-155, January.
  7. Julie Rozenberg & Stéphane Hallegatte & Adrien Vogt-Schilb & Olivier Sassi & Celine Guivarch & Henri Waisman & Jean Charles Hourcade, 2010. "Climate policies as a hedge against the uncertainty on future oil supply," Post-Print hal-00667118, HAL.
  8. Peersman, Gert & Van Robays, Ine, 2012. "Cross-country differences in the effects of oil shocks," Energy Economics, Elsevier, vol. 34(5), pages 1532-1547.
  9. Rendahl, P., 2012. "Fiscal Policy in an Unemployment Crisis," Cambridge Working Papers in Economics 1211, Faculty of Economics, University of Cambridge.
  10. Gert Peersman & Ine Van Robays, 2009. "Oil and the Euro area economy," Economic Policy, CEPR;CES;MSH, vol. 24, pages 603-651, October.
  11. Costantini, Valeria & Crespi, Francesco, 2008. "Environmental regulation and the export dynamics of energy technologies," Ecological Economics, Elsevier, vol. 66(2-3), pages 447-460, June.
  12. Michael Kumhof & Romain Rancière & Pablo Winant, 2015. "Inequality, Leverage, and Crises," American Economic Review, American Economic Association, vol. 105(3), pages 1217-1245, March.
  13. Costantini, Valeria & Mazzanti, Massimiliano, 2012. "On the green and innovative side of trade competitiveness? The impact of environmental policies and innovation on EU exports," Research Policy, Elsevier, vol. 41(1), pages 132-153.
  14. Mark Huberty & Georg Zachmann, 2011. "Green exports and the global product space: Prospects for EU industrial policy," Working Papers 556, Bruegel.
  15. Lutz Kilian, 2009. "Not All Oil Price Shocks Are Alike: Disentangling Demand and Supply Shocks in the Crude Oil Market," American Economic Review, American Economic Association, vol. 99(3), pages 1053-1069, June.
  16. Ralf Martin & Laure B. de Preux & Ulrich J. Wagner, 2011. "The Impacts of the Climate Change Levy on Manufacturing: Evidence from Microdata," NBER Working Papers 17446, National Bureau of Economic Research, Inc.
  17. Álvarez, Luis J. & Hurtado, Samuel & Sánchez, Isabel & Thomas, Carlos, 2011. "The impact of oil price changes on Spanish and euro area consumer price inflation," Economic Modelling, Elsevier, vol. 28(1), pages 422-431.
  18. Anil Markandya & Mikel González- Eguino & Marta Escapa, 2012. "Environmental fiscal reform and unemployment in Spain," Chapters,in: Carbon Pricing, Growth and the Environment, chapter 1, pages 3-16 Edward Elgar Publishing.
  19. Raimund Bleischwitz, 2010. "International economics of resource productivity – Relevance, measurement, empirical trends, innovation, resource policies," International Economics and Economic Policy, Springer, vol. 7(2), pages 227-244, August.
  20. Quirion Philippe & Jean Charles Hourcade, 2004. "Does the CO2 emission trading directive threaten the competitiveness of European industry? Quantification and comparison to exchange rates fluctuations," Post-Print hal-00643411, HAL.
  21. European Commission, 2011. "Taxation trends in the European Union: 2011 edition," Taxation trends 2011, Directorate General Taxation and Customs Union, European Commission.
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Cited by:

  1. Creutzig, Felix & Goldschmidt, Jan Christoph & Lehmann, Paul & Schmid, Eva & von Blücher, Felix & Breyer, Christian & Fernandez, Blanca & Jakob, Michael & Knopf, Brigitte & Lohrey, Steffen & Susca, Ti, 2014. "Catching two European birds with one renewable stone: Mitigating climate change and Eurozone crisis by an energy transition," Renewable and Sustainable Energy Reviews, Elsevier, vol. 38(C), pages 1015-1028.
  2. Michael Jacobs, 2012. "Green Growth: Economic Theory and Political Discourse," GRI Working Papers 92, Grantham Research Institute on Climate Change and the Environment.

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