An Empirical Investigation on the Transition Process toward a Green Economy

Abstract

The study investigates the transition process and core principles of a green economy. At a global level, green growth represents the essence of a green economy. In this context, the process of restructuring the market economy and transitioning toward a green economy implies continuous efforts and interdependence since it cannot be achieved in isolation. The model of restructuring economic activities to the specificity of a green economy addresses the interdependent pillars of sustainable development: environmental concerns; renewable energy; low carbon levels. Nevertheless, the green economy model that is applied to advanced economies cannot be implemented to low-income economies because of development gaps. Moreover, emerging economies also have other goals and priorities that demand changes into the green economy model of advanced economies.