Green Growth Strategy in the Manufacturing Sector: Lesons for Emerging Economies
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University of Lagos Press and Bookshop Ltd
This paper discusses some possible strategies that could be included in emerging nations development plans to ensure a green-growth manufacturing sector. These include proper pricing of natural resources, strengthening of residuals management in the industry (i.e. pollution control), financial incentives to promote environmental technologies, market-based instruments, institutional and property right reforms. Also, the paper reiterated that government, Private sector, and NGOs are the major stakeholders in greening the manufacturing sector. These stakeholders have critical roles to play. For governments, this would include leveling the playing field for greener products by phasing out antiquated subsidies, reforming policies and providing new incentives, strengthening market infrastructure and market-based mechanisms, redirecting public investment, and greening public procurement. For the private sector, this would involve understanding and size the true opportunity represented by green economy transitions across a number of key sectors, and respond to policy reforms and price signals through higher levels of financing and investment. The study further reviews adoptable green growth strategy practiced in the United States, Japan, Germany, Brazil, China, Malaysia, South Africa, and the Philippines. Also, a comprehensive green growth strategy for manufacturing sector was presented, while the paper concludes with the major preconditions for green growth manufacturing sector take-off.
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Manufacturing Sector , Green Growth Strategy
Adeoye, B. and Ainsola, F. (2016), Green Growth Strategy in the Manufacturing Sector: Lesons for Emerging Economies. Nigeria's Industrial Development, Corporate Governance and Public Policy. 287-305