Green Economy Development under the Financial Crisis: The World Practice and Experience


Authors: Oleksandr Tregubov, Serhii Podrieza, Nataliia Hoi, Tamara Ivanova, and Tetiana Kulinich
Page Range: 255-269
Published in: International Journal of Energy, Environment, and Economics, Volume 29 Issue 3
ISSN: 1054-853X

Table of Contents


The topicality of the stated problem is due to significant achievements of developed countries in a green economy, which can ensure a balance between environmental impact and economic and social development and contribute to a high level of welfare. The implementation of these achievements (subject to adaptation) will allow countries with developing economies to form strategic green growth initiatives under the financial crisis, ensuring socio-economic development and a sufficient level of environmental security. The article aims to examine the world trends in green economy development under the financial crisis for further implementation (subject to adaptation) of best practices in Ukraine. The system-structural approach has been used as the main research method to consider the green economy dynamics in the country as a whole, including both horizontal and vertical connections between its system-forming elements. Based on the study of foreign experiences in green economy development, the authors have defined the factors, which, under the shortage of financial resources, are of interest for Ukraine and countries with developing economies and suggested basic strategic directions for green growth. The strategic directions for green economy development are suggested aimed at ensuring a balance between economic development and a sufficient level of environmental security of a state. The directions are of interest to state and local administration bodies and important for the public policy implementation in green growth and public organizations, which work in this area, to make informed strategic decisions.

Keywords: green economy, green growth, sustainable development, foreign experience, national economy

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