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. Neverthe-less, 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 econo-mies.