Abstract
Research background: Climate change stimulates unfavorable global socio-economic consequences, which question economic structures, require sustainable development. Reaching sustainable development in economy relates to structural change. However, scientists rarely focus on structural change and sustainable development in the pure economic subject area. Purpose of the article: The article aims to summarize and classify the knowledge about contribution and potential of structural change for sustainable development in economy using research experience. The author considers the articles published exactly in the economic subject area, in which scientists terminologically focus on structural change and sustainable development. Methods: The search parameter - keywords and limitation - subject area determine the selection of suitable material for the research purpose. The author applies monographic method, logical analysis method, scientific induction method for the analysis of the selected material. Findings & Value added: The articles selected according to the limitations demonstrate that manufacturing is the most commonly analyzed sector followed by energy sector, tourism and decomposition of economy depending on sectoral efficiency. According to the material analyzed in the economic subject area, the contribution of structural change to sustainable development is considered in case studies with focus on decomposition of sectoral structure of local economies. Potential of structural change to sustainable development is considered in general terms and relates to energy efficiency, introduction of new technologies, and involvement of all stakeholders. Thus, it is possible to highlight the factors necessary for structural change, which work towards sustainable development in economy – attitude, efficiency, new technologies and wide range of participants.
Highlights
Scientists indicate that climate correlates with economic activity and hotter areas and higher ultraviolet radiation are not favourable [1]
The present study focuses on articles in the economic subject area, the author limits search results by two subject areas – Economics, Econometrics and Finance; Business, Management and Accounting
The author highlights structural change context for sustainable development within each article under consideration. Such organization of the analysis summarizes and classifies knowledge about structural change and sustainable development in the set of articles selected according to the relevant “Author keywords” and published in the economic subject area
Summary
Scientists indicate that climate correlates with economic activity and hotter areas and higher ultraviolet radiation are not favourable [1]. The recent global tendencies in climate change actualize imbalances between economic and environmental interests with negative socio-economic consequences for advanced and developing economies. Scientists highlight significance of globalization for industrial development and structural change [3]. Possible solution relates to the cleaner production methods and practices [4]. Another solution relates to the pollution tax, which affects consumer demand [5]. One more solution offers society to slow down climate change by stimulating contributions of educational capital in some types of entrepreneurship [6]. Scientists highlight contribution of circular economy to sustainability [8]
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