Economic development, in its traditional formulation, ignores the impact of decisions made regarding energy, resources, and finance. The standard choices made are to use stocks of fossil fuels, stocks of resources and their linear flow, and generic finance. The implications of this are now clear. An alternative is being crafted which is based on flows of renewable energy and renewable fuels, on circular flows of resources, and on greening of financial instruments, such as equities and bonds. This involves a vast industrial revolution, creating the 'next' Great Transformation of the global economic system, one that is creating an economy that emulates life through its interconnections and circular flows. The shift is comprehensive, global, and all-encompassing. Greening of economic development is driven by industrial policy, technological capability, and enhancement of industrial capacity.With over fifty contributors, this volume draws on specialist expertise to provide a comprehensive overview of this process of greening of economic development. It demonstrates how the shift in energy, resource flows, and finance is a process rather than an endpoint; that it is compatible with economic growth; that it is powered by economic drivers such as cost reductions generated by experience curves; and that at the vast scale and rapid pace required it calls for a global Green Deal.The handbook frames novel objectives through greening that take state action and guidance in fresh directions and argues that the strategies involved are as relevant for emerging industrial economies creating new industries as to developed economies looking to transform themselves. Overall, it emphasizes how 'greening' creates a self-sustaining economy that does not cost the earth.
AcknowledgementsList of FiguresList of TablesList of ContributorsI. Greening of Economic Development: Context and Theoretical Perspectives1. Greening of economic development: An introduction, John A. Mathews and Arkebe Oqubay2. The global green shift: History, dynamics, and prospects, Jan Fagerberg3. Developmental environmentalism: Green growth in East Asia, Sung-Young Kim, Hao Tan, and Elizabeth Thurbon4. Green transformation as new direction for technoeconomic development, Rasmus Lema and Carlota Perez5. Evolutionary dynamics of the Green and Circular Economy, Maj Munch AndersenII. Greening of Energy, of Resource Flows, and Finance6. Fossil fuels exit: Challenges, perspectives, bottlenecks, Nicola Armaroli7. Reversing the fuel-electricity system provides for complete fossil fuel replacement and a stable grid, Tomas Kaberger8. Social cost benefit analysis of 100 percent renewables systems, Mark Delucchi9. Renewable hydrogen production economics: Influence of electrolyser performance, Gerhard Swiegers with Rahman Daiyan, Abbey Last, and M. Haider Ali Khan10. Taiwan's green technology development: The role of fuel cells and the green hydrogen economy, Meg Jo-Chen Lin, Justin Che-Ping Chou, and Mei-Chih Hu11. Japanese debates over the energy transformation (GX), Jusen Asuka12. Greening the economy: industrial ecology and industrial symbiosis, Marian Chertow and Koichi Kanaoka13. The role of finance in greening economic development, Ulrich Volz and Damon Aitken14. Role of mission-oriented development banks in greening, Mariana Mazzucato and Laurie MacfarlaneIII. Greening along Value Chains15. Green windows of opportunity and catch-up industrialization in Africa, Lindsay Whitfield, Felix Maile, and Tobias Wuttke16. Economic performance of urban mining for future resource supply, Xianlai Zeng and Xin Xiong17. Greening of global value chains, Aarti Krishnan18. Regenerative farming and greening of food production, John Schooneveldt19. Patenting strategies for electric vehicles, Chan-Yuan Wong, Chia-Chen Chang, and Hon-Ngen FungIV. Greening of Regions20. How China's green strategy is changing the world, Jeffrey Ball21. Greening in Central and South Asia: India, Simran Talwar and Maartje Feenstra22. Greening in Northern Europe: Offshore wind power, Ewan Gibbs23. Greening the economy: The Singapore model, Euston Quah and Jun Rui Tan24. Greening in Southeast Asia, Rajah Rasiah and Gopi Krishnan Vijayaraghavan25. Greening of Latin American economies, Amir Lebdioui26. The EU's green industrial policy: Europe's Green Deal, Michael A. Landesmann27. A green transition in the USA: The case of fossil fuel-dependent West Virginia, Robert PollinV. Greening of strategies for economic development28. Conditions for success of green industrial policy, Keun Lee29. Greening industrial development strategies, Richard Kozul-Wright, Diana Barrowclough, and Piergiuseppe Fortunato30. Greening of economic development: The New Deal's enduring legacy, Michael H. Best31. Greening of economic development: The next Great Transformation - Conclusions and pathways to the future, John A. Mathews and Arkebe Oqubay