In the context of rising consumption standards in less-developed, developing and developed countries along with rapid population growth in developing countries, achieving the goal of sustainable development is a major challenge facing the world today.
Economists have used the term sustainable development in an attempt to clarify the balance between economic growth on the one hand and conservation and protection of the environment on the other. Sustainable development refers to “expanding the economy’s production levels to meet the needs for goods and services of the present population, without undermining the ability of future generations to meet their own needs”. Thus economic growth will be sustainable if the stock of capital assets including land and raw materials remains constant or increases over time.
The purpose of this special issue is to discuss the importance of sustainable development in growth processes – particularly the role of economic policy (both monetary and fiscal) in creating overall growth and sustainability of countries.
Economic growth without environmental considerations can cause serious environmental damage, in turn impairing the quality of life of present and future generations. Such environmental degradation imposes a long-run cost for the economy and also society, and therefore needs to be explicitly factored into a country’s macroeconomic policy.
Suitable topics include, but are not limited, to the following:
- Financial development and economic growth
- Economic sustainability including capacity building, integrated decision making and
- consumption and production
- Green economy
- Green growth
- Neoclassical and endogenous growth models
- Growth and income distribution
- Environmental economics
- Return and long-run growth
- Financial innovation and growth in the global economy
- Conventional monetary policy, money supply and credit
- Fiscal and monetary policy coordination
- Public economics, welfare
- Relationships between consumption, saving and investment
- Business fluctuation/cycles and economic growth
- Econometric/mathematical modelling of economic growth processes
- Finance, finance institutions, corporative finance
- International trade and sustainable economic growth
- Labour and sustainable economic growth
Submission of manuscripts: 30 January, 2018