A Pathway to a Low-Carbon Economy
Keywords
Loading...
Authors
Issue Date
2024-07-04
Language
en
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
This thesis investigates the conditions under which developmental capital markets can effectively finance a Green Developmental State (GDS) and facilitate a just transition to a low-carbon economy in the European Union (EU). It argues that the EU's pathway towards a GDS is possible by fulfilling the conditions of a strong state with the institutional capacity and robust regulatory framework to incentivise green investments, underpinned by supportive socio-political factors. The research delves into the limitations of the current Wall Street Consensus (WSC) and de-risking strategies, highlighting their instability and inadequacy in addressing the climate crisis. It explores alternative pathways, such as the Big Green State (BGS) and the Public Finance Paradigm (PFP), emphasizing the importance of state intervention and public finance in driving the green transition. After analysing the current state of institutional capacity, regulatory frameworks, and socio-political factors in the EU, the thesis proposes a new pathway, grounded in a social intersubjective ontology, that integrates insights from both BGS and PFP, while emphasizing the mutual reinforcement of institutional capacity, regulatory frameworks and socio-political factors. This new pathway offers a comprehensive approach that combines state-led initiatives with market-based mechanisms, ensuring a just and sustainable transition to a low-carbon economy.
Description
Citation
Supervisor
Faculty
Faculteit der Managementwetenschappen