Fuzzy-based multi-criteria decision analysis of environmental regulation and green economic efficiency in a post-COVID-19 scenario: the case of China.

Abstract

The COVID-19 pandemic outbreak posed serious threats not only to global health but also to the worldwide development regime. The experts, economists, policymakers, and the governments expressed their pledges and determinations to adapt and mitigate climate change. Policymakers and governments have started adopting green growth and development strategies. The progress moves further to achieve green economic efficiency (GEE) to achieve economic, social, and environmental development. One of the major challenges has been promulgating and strictly implementing environmental regulations and policies vis-à-vis green growth and development. China, having the second largest economy, has started its voyage to achieve GEE. However, there are multiple challenges on the way to the green economy. The objective of the present stud is to analyze environmental regulation and GEE in China using fuzzy-based multi-criteria decision analysis. To serve this purpose, the study identifies 5 alternative strategies to achieve GEE while considering 10 criteria and 48 sub-criteria in the context of environmental regulations in China. The Fuzzy Analytical Hierarchy Process (AHP) has been employed to rank criteria and sub-criteria to the goal. The Fuzzy VIekriterijumsko KOmpromisno Rangiranje (VIKOR) method has been used to rank the alternative strategies of GEE. The proposed model unveiled resource efficiency and green purchasing as the best strategy to achieve GEE in the Chinese economy followed by local production. The study provides a comprehensive insight into the green development process to achieve GEE in the Chinese economy in the post-COVID-19 world.