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Modern economies rely on economic growth for stability and prosperity. Further, periods of stagnation and recession are currently associated with poor health and wellbeing outcomes for citizens. However, 50 years of research indicates that this state of dependency is ecologically unsustainable. It is therefore critical that we better understand the growth dependency of our economies and welfare systems, and how to overcome it. In this paper we first offer a working definition of growth dependency, clarifying its core dimensions. Next, taking the UK's adult social care sector as a case study, we argue that growth dependencies emerge in the welfare state as a result of three distinct dynamics: 1) growth in manifest needs; 2) labour productivity growth; 3) the pursuit of economic rents. Lastly, we propose a novel, sector-led framework for identifying, analysing and transforming growth dependencies. We make the case that the growth dependency of the welfare state is not inevitable, but is instead the product of specific social, economic and structural factors that can be disrupted and transformed, if we can find the political will to do so. [ABSTRACT FROM AUTHOR]

Abstract: This paper discusses the dangers inherent in attempting to simplify something as complex as development. It does this by exploring the Lynn and Vanhanen theory of deterministic development which asserts that varying levels of economic development seen between countries can be explained by differences in ‘national intelligence’ (national IQ). Assuming that intelligence is genetically determined, and as different races have been shown to have different IQ, then they argue that economic development (measured as GDP/capita) is largely a function of race and interventions to address imbalances can only have a limited impact. The paper presents the Lynne and Vanhanen case and critically discusses the data and analyses (linear regression) upon which it is based. It also extends the cause–effect basis of Lynne and Vanhanen''s theory for economic development into human development by using the Human Development Index (HDI). It is argued that while there is nothing mathematically incorrect with their calculations, there are concerns over the data they employ. Even more fundamentally it is argued that statistically significant correlations between the various components of the HDI and national IQ can occur via a host of cause–effect pathways, and hence the genetic determinism theory is far from proven. The paper ends by discussing the dangers involved in the use of over-simplistic measures of development as a means of exploring cause–effect relationships. While the creators of development indices such as the HDI have good intentions, simplistic indices can encourage simplistic explanations of under-development. [Copyright &y& Elsevier]

Existing literature has carried out fruitful research on the effects of environmental regulation policies. Due to differences in policies, regions, and data analysis methods, however, the previous studies have not reached a consensus on the effects of environmental regulation policies, especially on the effects of environmental regulation policies of developing countries from the perspective of environmental justice. This paper takes the establishment of the environmental court in China's intermediate people's court as a quasi-natural experiment and uses the multi-period difference-in-differences method to examine the effect of the establishment of the environmental court on environmental governance and economic performance, based on the panel data of 284 cities in China from 2003 to 2019. The results show that the establishment of the environmental court can significantly reduce the emission intensity of industrial SO 2 in the short term. This reduction effect is resulted from the joint emission reduction effect of the establishment of the environmental court on local cities and adjacent cities. The mechanism analysis shows that the establishment of the environmental court has the dual effect of emission reduction without hindering economic growth. This effect is mainly achieved by improving energy efficiency, stimulating green technology innovation, increasing environmental investment, and improving the green finance level. Furthermore, the emission reduction effect of the establishment of the environmental court shows differential effects under the constraints of regional rule-of-law level, environmental awareness, fiscal pressure, and level of innovation and entrepreneurship. In addition, the establishment of the environmental court can facilitate the achievement of carbon peaking and carbon neutrality goals. • Evaluated the impact of the improvement of judicial quality on environmental governance and economic performance. • The establishment of the environmental court would reduce the emission intensity of industrial SO 2. • The establishment of the environmental court would not compromise regional productivity. • There is heterogeneity in the policy effects of the establishment of the environmental court. • Effects are achieved via energy efficiency, green technology innovation, environmental investment, and green finance. [ABSTRACT FROM AUTHOR]

Despite a growing number of studies on the effects of tropical cyclones on economic growth, not much is known about their effects on income inequality. This paper addresses this question by using a panel data set of U.S. counties affected during the period 2010–2019. It exploits geophysical information to construct the disaster intensity predictor, and shows that storm shocks significantly decrease local income inequality levels in the year that they occur. A close study of the composition effects reveals several interesting patterns. First, the immediate impact is driven by the two lowest quintiles and the top quintile of the income distribution. Second, the beneficial effects on income inequality are stabilised in the short-run and the frequency of events is a crucial parameter to consider as repeatedly exposed counties exhibit larger responses after a cyclone strike than their rarely exposed counterparts. Finally, among others, this study stresses the importance of social safety nets in counteracting tropical cyclones' adverse income distributional effects. [ABSTRACT FROM AUTHOR]

This paper aims to model the connection between economic growth and the environment, assuming that developing economies face an environmental constraint that developed economies did not suffer when they started their processes of economic development. Following the model of Lucas (2000) , this paper simulates world income dynamics since the year 1800, setting up the parameters such that the model accurately describes the world economy by the year 2020. The original model is enriched by adding an environmental constraint so that follower economies face a declining growth premium after 1970. The model also forecasts income dynamics until the end of the 21st century, which allows testing the effects of the environmental constraint on followers in the future. The simulations predict that convergence to upper-middle and high-income per capita levels will slow down and so will the pace of reduction of across income inequality worldwide. These results suggest that a strategy of "grow first, then clean up", typically derived from the existence of an environmental Kuznets curve (EKC), is not necessary valid for today developing countries. Instead, the results would suggest the implementation of a policy of "clean up in order to grow", but growing less. [ABSTRACT FROM AUTHOR]

GDP scenarios are major drivers of climate change and climate change mitigation assessment studies. In this paper, a major update of the SSP GDP projections is presented. By using the most recent economic data and short-term projections by the World Bank and International Monetary Fund, the update captures changes in the system of national accounting and purchasing power parities, as well as the impact of the Covid 19 pandemic. Harmonization between the data and the original end-of-the century SSP projections was carried out in terms of GDP per capita in order to preserve the underlying narrative of income convergence. The result is a set of projections compatible with the most recent data and the SSP narratives. A comparison of DICE models calibrated to the original and updated SSP2 GDP per capita projections illustrates how significant the impact of an update of income data on integrated assessment results can be. The estimated global social costs of carbon in 2015 and 2030 rose by almost 30%. [ABSTRACT FROM AUTHOR]

Although green growth has become the economic development strategy of many countries in the world, and studies have analyzed the influencing factors of green growth from multiple angles, there are few literatures devoted to the impact of fintech and green finance on green growth. From the perspective of fintech development, this paper tries to construct a comprehensive index to evaluate the green growth of regional economy based on the in-depth analysis of the influence mechanism of green finance on green growth. At the same time, China's provincial panel data from 2011 to 2018 are selected to test the impact of fintech innovation and green finance on green growth, and its mechanism. It turns out that fintech and green finance significantly promotes green economic growth. At the same time, the impact of fintech and green finance on green growth has obvious regional heterogeneity, that is, the impact in eastern China is significantly stronger than that in central and western China. Further research shows that fintech innovation mainly promotes green economic growth through green credit and green investment. Therefore, fintech innovation can promote green economic growth by improving the development level of green finance, which has great reference significance for most countries. [ABSTRACT FROM AUTHOR]

The Circular Economy ("CE") is gaining momentum as an approach to addressing sustainability challenges. The CE is framed as a transformative model with economic, environmental and social benefits. Nevertheless, the degree of circularity in the global economy is low and critics highlight that current interpretations fall short in delivering promised results regarding the social dimension of sustainability. Instead economic growth is elevated above more radical socio-environmental transformation. This exploratory paper adopts a human needs approach, using Max-Neef's Human-Scale Development proposal as an analytical lens to explore the contentious social dimension of the CE. The study revisits four seminal texts which are commonly referenced as influencing the CE's conceptual development: The Blue Economy; Cradle to Cradle; Regenerative Design for Sustainable Development; and, The Performance Economy. These texts were analysed to identify satisfiers of human needs. This provides insight into how inclusive earlier visualisations were of encompassing human needs, and how these compare to the current CE direction. We argue that satisfiers of human needs are embedded, to differing extents, in some of the early CE depictions. Nevertheless, the CE concept has selectively developed, neglecting radical, human-centric transformational aspects and instead adheres to a familiar pathway of business-led economic growth. [ABSTRACT FROM AUTHOR]

The World Bank computes estimates of Genuine Savings (GS), a leading indicator of sustainable development, for most countries. A well-established literature has called for methodological enhancement. This paper presents augmented estimates of Irish GS throughout a period of unprecedented economic expansion and decline (1990–2016). A time-series constructed predominantly from national sources includes the most comprehensive coverage of pollutants in the literature surveyed. We apply a novel method to aid the property rights designation assessment required for transboundary pollutant accounting. In sharp contrast to the World Bank's estimates, our findings suggest that a modern developed economy can exhibit signs of unsustainability. Furthermore, extended environmental damages drive these results suggesting expanded country specific GS may diverge considerably from the World Bank's estimates. We find rapid economic development and rapid declines in environmental damages can occur concurrently and on the transition away from an unsustainable path. [ABSTRACT FROM AUTHOR]