{"title":"How Stimulating Is a Green Stimulus? The Economic Attributes of Green Fiscal Spending","authors":"B. O’Callaghan, Nigel Yau, C. Hepburn","doi":"10.1146/annurev-environ-112420-020640","DOIUrl":null,"url":null,"abstract":"When deep recessions hit, some governments spend to rescue and recover their economies. Key economic objectives of such countercyclical spending include protecting and creating jobs while reinvigorating economic growth—but governments can also use this spending to achieve long-term social and environmental goals. During the COVID-19 (coronavirus disease 2019) pandemic, claims have been made that green recovery investments can meet both economic and environmental objectives. Here, we investigate the evidence behind these claims. We create a bespoke supervised machine learning algorithm to identify a comprehensive literature set. We analyze this literature using both structured qualitative assessment and machine learning models. We find evidence that green investments can indeed create more jobs and deliver higher fiscal multipliers than non-green investments. For policymakers, we suggest strong prioritization of green spending in recovery. For researchers, we highlight many research gaps and unalignment of research patterns with spending patterns. Expected final online publication date for the Annual Review of Environment and Resources, Volume 47 is October 2022. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.","PeriodicalId":7982,"journal":{"name":"Annual Review of Environment and Resources","volume":"4 1","pages":""},"PeriodicalIF":15.5000,"publicationDate":"2022-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"14","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Annual Review of Environment and Resources","FirstCategoryId":"93","ListUrlMain":"https://doi.org/10.1146/annurev-environ-112420-020640","RegionNum":1,"RegionCategory":"环境科学与生态学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ENVIRONMENTAL SCIENCES","Score":null,"Total":0}
引用次数: 14
Abstract
When deep recessions hit, some governments spend to rescue and recover their economies. Key economic objectives of such countercyclical spending include protecting and creating jobs while reinvigorating economic growth—but governments can also use this spending to achieve long-term social and environmental goals. During the COVID-19 (coronavirus disease 2019) pandemic, claims have been made that green recovery investments can meet both economic and environmental objectives. Here, we investigate the evidence behind these claims. We create a bespoke supervised machine learning algorithm to identify a comprehensive literature set. We analyze this literature using both structured qualitative assessment and machine learning models. We find evidence that green investments can indeed create more jobs and deliver higher fiscal multipliers than non-green investments. For policymakers, we suggest strong prioritization of green spending in recovery. For researchers, we highlight many research gaps and unalignment of research patterns with spending patterns. Expected final online publication date for the Annual Review of Environment and Resources, Volume 47 is October 2022. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.
期刊介绍:
The Annual Review of Environment and Resources, established in 1976, offers authoritative reviews on key environmental science and engineering topics. It covers various subjects, including ecology, conservation science, water and energy resources, atmosphere, oceans, climate change, agriculture, living resources, and the human dimensions of resource use and global change. The journal's recent transition from gated to open access through Annual Reviews' Subscribe to Open program, with all articles published under a CC BY license, enhances the dissemination of knowledge in the field.