O44 - Environment and GrowthReturn

Against the background of green development, green technology innovation is an important driving force for high-quality economic development. Countries are facing energy shortages, environmental deterioration and other issues that limit high-quality economic development by extending green technology innovation. The study aims to investigate the impact of green technology innovation and its spillover effect on high-quality economic development. For this purpose, the study applies panel data on 30 provinces in China from 2010 to 2019 to construct a spatial Durbin model. The study finds that green technology innovation in the region plays a positive role in promoting high-quality economic development. The findings show that green technology innovation in the Eastern Region could promote high-quality economic development. Nevertheless, the role of the Central and Western Regions is not significant and negative. Green technology innovation in the Central and Eastern Regions shows a significant positive role in promoting the high-quality economic development level of the surrounding areas. However, spillover effects in the Western Region are not obvious.

In this paper, we propose a model that demonstrates the influence of household ecological preferences on their acceptance of spending on renewable energy. The model discusses the production of energy from both non-renewable and renewable sources, the quality of the natural environment, pollution emissions, and utility maximization. If households choose to reduce pollutant emissions, they should reduce their levels of consumption. The main aspect that distinguishes the proposed model is the assumption of complementarity between physical capital and energy. This complementarity exists due to the fact that non-renewable natural resources are the main energy source throughout the world. The presented model is solved and analysed in detail. Our analysis of the model leads to the conclusion that maximizing the utility share of the total production spent on renewable energy generation depends on the relation of both preference parameters, not on each individual preference parameter. Since the presented model helps to explain several economic mechanisms, it may become incorporated into a larger model.

The purpose of the survey and to some extent polemical article is to present the issue of green growth, a new operating strategy, which the OECD is currently working on. Green growth is seen as a practical tool for achieving the timeless objective, which is sustainable development. In the paper, a particular attention is put on the following question: what kind of relationship occurs between green growth, green economy and sustainable development. The author analyses the purpose of simultaneous functioning of the three "green" ideas. The added value of this paper is a presentation of the author's model of GG-GE-SD relations and a new approach to defining the phenomenon of green growth. It is concluded that co-existence of the trio green economy - green growth - sustainable development is reasonable due to the complementary and synergistic nature of correlations between these concepts.