Comparative Analysis of Methods for Assessing the Transition to a Green Economy

Abstract

The concept of sustainable development has become the basis for the future of humanity, and one of the tools for achieving it is green economy, which needs to be evaluated by offering certain methods of measurement. The purpose of this work is a comparative analysis of the most well-known methods for evaluating the implementation of the green economy concept at the national and regional levels, identifying their advantages and disadvantages. The analysis of foreign and domestic literature has shown that two types of integral indices are used mainly to measure the “greening” of economy: indices whose constituent elements require normalization (The Global Green Economy Index, The Index of the Green Economy, The Green Growth Index, The Ecological Footprint) and the indices that comprise the indicators which have a common unit of measurement (The Index of Adjusted Net Savings, “Green GDP”). As a result of the research, it was found that the normalized indices do not fully meet the criteria for aggregate indicators presented by the OECD. In addition, all the considered methods allow only to reflect trends towards the transition to a green economy, but not to assess the degree of its implementation. Further research will develop a set of indicators that can be used to characterize not only trends, but also the specific stage of transition to a green economy.

Economic Development Efficiency Based on Tobit Model: Guided by Sustainable Development

“…Lebedeva et al compared existing GE assessment methods. The study found that current methods were mainly used to measure the "greening" of the economy [12]. To raise the efficiency of urban GE planning, researchers such as Liu have constructed a model based on an improved genetic algorithm.…”

“…In Equation (12), j a represents the information entropy value of each indicator. n represents the sample number of each indicator.…”