Green Economy and Economic Growth: Trends, Challenges and Opportunities for the EU

Adam Albekov, Natalia Vovchenko, Yevgeniya Medvedkina, Taras Medvedkin
International Journal of Economics & Business Administration, Volume V, Issue 1, 49-62, 2017


This paper substantiates the necessity for studying the complexity and ambiguousness of green economy principles', opportunities' and drivers' influence in a view of the need for maintaining the economic growth in the EU countries and comparing issues of sustainable development in Russian Federation according to the rules of green economy. On the basis of foreign experience review and publications' analysis, the main dimensions of economic growth philosophy are proposed. These dimensions are related to preserving and expanding the peculiarities of economic growth, forming the post-industrial society with friendly attitude to environment, developing horizontal links and the opportunities of sustainable development. The verification of hypothesis of the dense interconnection between ‘green' economy efficiency indicators and achieving the economic growth in the framework of individual economic system as well as in human civilization in general is conducted with economic-mathematical tools.

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