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Seoul Journal of Economics
[ Article ]
Seoul Journal of Economics - Vol. 26, No. 2, pp.147-172
ISSN: 1225-0279 (Print)
Print publication date 30 May 2013
Received 07 Jan 2013 Revised 06 Feb 2013 Accepted 09 Feb 2013

Greening of Development Strategies

John A. Mathews
Professor, Macquarie Graduate School of Management, Macquarie University, Sydney NSW 2019, Australia, Tel: +61-62-9850-6082 john.mathews@mgsm.edu.au

JEL Classification: O14, O16

Abstract

While the evidence accumulates that many countries are fashioning aspects of green development to complement their ‘black, fossil-fuelled industries, the case for a wholesale adoption of green development strategies is seldom made. Instead it is frequently assumed that green development can only follow black development, and that it is only for countries that have reached a certain income level. In this paper the argument is reversed, and the case for a greening of development strategies even in the case of the poorest countries, is mounted. The advantages that can flow from a greening of development are identified and strategies for capturing these advantages, based on notions of leapfrogging and capturing latecomer advantages, are developed. The case for greening is independent of issues of global warming, but the fact that green development strategies combat climate change, and ameliorate conditions for the least advantaged, are in their favour.

Keywords:

Green development strategy, Green growth, Business as usual, Low-carbon trajectory

Acknowledgments

From 2009~2012 Eni Chair of Competitive Dynamics and Global Strategy, LUISS Guido Carli University, Rome. Thanks to my former doctoral students and colleagues, Dr Mei-Chih Hu and Dr Hao Tan, for many discussions that have helped frame the issues discussed in this paper.

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