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An Operational Framework for a Low-carbon, Green Growth Economy: CO-STIRPAT Dynamic System

Author

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  • Ick Jin

    (Director General, Economic Analysis Department of the National Assembly Budget Office, Seoul, Korea)

Abstract
This paper presents an operational framework for assessing the trajectories of production, energy, emissions, and capital accumulation to ensure the implementation of Nationally Determined Contributions (NDCs). The framework combines widely used methodologies (STIRPAT, system dynamics, and optimization) to simulate the pathways of variables until a target year. The CO-STIRPAT dynamic system allows us to identify the spillover pathways from carbon policy to economic growth based on output optimization principles; to conduct a more systematic analysis of the interconnections between the main drivers that determine carbon emissions; to develop a cost-effective climate policy mix that is a backbone for the right combination of carbon pricing, energy efficiency, and carbon intensity; and to assess NDC targets with respect to ambition gaps, implementation gaps, and feasibility.

Suggested Citation

  • Ick Jin, 2024. "An Operational Framework for a Low-carbon, Green Growth Economy: CO-STIRPAT Dynamic System," Journal of Economic Analysis, Anser Press, vol. 3(4), pages 83-100, December.
    • Handle: RePEc:bba:j00001:v:3:y:2024:i:4:p:83-100:d:257
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    References listed on IDEAS

    as
    1. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
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    Cited by:

    1. Wang, Weilong & Wang, Jianlong & Wu, Haitao, 2024. "The impact of energy-consuming rights trading on green total factor productivity in the context of digital economy: Evidence from listed firms in China," Energy Economics, Elsevier, vol. 131(C).

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