This paper provides insights on the sustainability of economic development from a historical and political economy perspective. We demonstrate that China's rural financial policy in the 1980s was quite liberal in employing market mechanisms, supporting entrepreneurship, and encouraging...

This paper examines the effects of output volatility on global sustainability in a dynamic panel data model allowing for error cross section dependence. It finds that output volatility impedes the process of sustainable development. It further suggests that output volatility exerts a significant...

One of the dual objectives of the Clean Development Mechanism (CDM) of the Kyoto Protocol is to promote sustainable development in the host countries. With different CDM indicators for 58 CDM host countries over 2005-10, this paper empirically assesses whether CDM project development fulfils...

This paper examines whether foreign aid, together with other economic, social and environmental factors, contributes to sustainable development. It starts with a theoretical model where sustainable development is modelled as a different kind of growth that protects the environment. Using factor...

What are the major determinants of green growth? What role can the government play to promote green growth? To address these questions, this paper develops a simple Green Solow model that sheds light on the role of finance and technology in the process of green growth. The empirical section of...