Abstract
This paper assesses the low-carbon economy in Asia: how large it is today and how well it will fare in the future. Using patent and trade data, it analyzes the potential of Asian economies to capture value from the design and export of low-carbon technologies, acknowledging that these are only two dimensions of a multidimensional low-carbon economy. It conducts country-level analysis to identify which technologies different countries can specialize in and potentially scale up. The work shows that, overall, Asia has an innovation specialization and revealed comparative advantage in climate change mitigation technologies. Particular strengths include efficient lighting, photovoltaics, and energy storage technologies. Further opportunities include nuclear and smart grids. However, within Asia, there are regional disparities, with countries such as the People’s Republic of China, Japan, and the Republic of Korea outperforming others. This paper highlights how the analytical framework it presents can be used to strategically inform environmental policy makers and concludes with an overview of the green growth policy tool kit.
Highlights
Every economist knows that gross domestic product (GDP) is an inaccurate measure of human welfare
Asia is on track to capture value from the design and export of key climate change mitigation technologies (CCMT) such as energy storage, photovoltaics, and efficient lighting
Our analysis has shown that, as a whole, Asia is on track to capture value from the design and export of key CCMTs such as energy storage, photovoltaics, and efficient lighting
Summary
Every economist knows that gross domestic product (GDP) is an inaccurate measure of human welfare. More so than sustainable development, green growth emphasizes the possibility, the desirability, of pursuing economic growth and environmental protection at the same time (Jacobs 2012). The business of reducing greenhouse gas (GHG) emissions is probably the most prominent aspect of green economic growth to date It is worth emphasizing the comprehensive nature of green growth, which is not just low carbon, and climate resilient, biodiverse, clean, and sustainable (Bowen and Fankhauser 2011). We provide a definition and sets out the rationale for green growth It covers relatively recent literature, and many of the assertions made about the mechanisms and benefits of green growth are awaiting further empirical corroboration. They are presented here to highlight the most up-to-date thinking in the field
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