Which direction for sustainable development? A time series comparison of the impacts of redistributive versus market policies in Bolivia and South Korea

Bell, Karen, Hickel, Jason, Arbon, Rob and Zoomkawala, Huzaifa (2023) Which direction for sustainable development? A time series comparison of the impacts of redistributive versus market policies in Bolivia and South Korea. Sustainable Development, 31 (5). 3408 - 3427. ISSN 0968-0802

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Abstract

This article examines two major policy frameworks for achieving sustainable development: the market-based ‘Green Economy’ approach (exemplified by South Korea), and the redistributive ‘Living Well’ approach (exemplified by Bolivia). We compare the two paradigms in qualitative terms using document analysis, and we assess quantitatively how they have fared in terms of delivering progress towards sustainable development in each country. Time series data for the Sustainable Development Index and the Gini index were examined. The results show that, since ‘Living Well’ was initiated, social outcomes have continued to improve in Bolivia and, while emissions and material footprint have increased, they remain low and within or near sustainable boundaries. By contrast, South Korea has regressed in terms of sustainability. Social indicators have improved, but the Green Economy policy has failed to reduce ecological pressures. This raises significant questions about the legitimacy of the Green Economy paradigm as a model for achieving sustainable development.

Item Type:	Article
Additional Information:	© 2023 The Authors
Divisions:	International Inequalities Institute
Subjects:	H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HB Economic Theory H Social Sciences > HC Economic History and Conditions
JEL classification:	O - Economic Development, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O40 - General Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q0 - General > Q01 - Sustainable Development Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q5 - Environmental Economics > Q56 - Environment and Development; Environment and Trade; Sustainability; Environmental Accounting; Environmental Equity D - Microeconomics > D6 - Welfare Economics > D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement H - Public Economics > H2 - Taxation, Subsidies, and Revenue > H23 - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
Date Deposited:	28 Oct 2024 10:57
Last Modified:	12 Dec 2024 04:32
URI:	http://eprints.lse.ac.uk/id/eprint/125896

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