The Green Growth Movement in the Republic of Korea : Option or Necessity?
To achieve the new national development vision, Korean leadership took a strategic approach in which the government played an active role, similar to the visionary approach used to achieve rapid economic development in the 1960s and 1970s. The gove...
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| Format: | Brief |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2015/12/25522923/green-growth-movement-republic-korea-option-or-necessity http://hdl.handle.net/10986/23229 |
| Summary: | To achieve the new national development
vision, Korean leadership took a strategic approach in which
the government played an active role, similar to the
visionary approach used to achieve rapid economic
development in the 1960s and 1970s. The government
established a legal framework on low carbon and green
growth, set up a governance structure to implement green
growth initiatives systematically, and established fiscal
policies and budget resources to support the initiatives
firmly. The purpose of this note is primarily to explain why
Korea adopted a green growth strategy as a new national
development paradigm and how it was implemented by the
government. Section one gives overview; section two
illustrates why green growth was a necessity in Korea;
section three describes how green growth was implemented by
the Korean government, particularly with respect to
institutional arrangements and fiscal adjustments for green
growth; section four presents the key outcomes thus far; and
section five identifies lessons that can be applied in other countries. |
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