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This book sheds new light on the relationship between economy and
the environment by approaching the issue from evolutionary and
institutional economics. Building a framework of theory and
empirical analysis, it provides an in-depth perspective on how
economic growth and environmental policy interact and historically
evolve. Orthodox environmental economics usually understands
environmental issues under the rules of market economy, while
environmental sciences subordinate economy to physical constraints
of the environment. Instead of these hierarchical visions, this
book recognizes economy and the environment as co-evolving systems.
The theoretical framework is elaborated based on the regulation and
post-Keynesian theories combined. An idea of three-dimensional
factors-capital, labor, and the environment-leads to conceptual and
mathematical models, which will be applicable to wider analyses.
Using this framework, Japanese history is analyzed as a typical
example of environmental policy development. Historical
transformations of environmental policies and growth regimes are
explained using indices and econometric analysis. Experiences of
strict regulations with positive economic impacts are also
identified. These works lead to some interesting implications,
which include mechanisms, the possibility, and conditions of "green
growth''. This book proposes a new approach by bridging the gap
between evolutionary-institutional economics and environmental
economics, which should be stimulating to them both and possibly
open the door for a new research avenue.
This book sheds new light on the relationship between economy and
the environment by approaching the issue from evolutionary and
institutional economics. Building a framework of theory and
empirical analysis, it provides an in-depth perspective on how
economic growth and environmental policy interact and historically
evolve. Orthodox environmental economics usually understands
environmental issues under the rules of market economy, while
environmental sciences subordinate economy to physical constraints
of the environment. Instead of these hierarchical visions, this
book recognizes economy and the environment as co-evolving systems.
The theoretical framework is elaborated based on the regulation and
post-Keynesian theories combined. An idea of three-dimensional
factors-capital, labor, and the environment-leads to conceptual and
mathematical models, which will be applicable to wider analyses.
Using this framework, Japanese history is analyzed as a typical
example of environmental policy development. Historical
transformations of environmental policies and growth regimes are
explained using indices and econometric analysis. Experiences of
strict regulations with positive economic impacts are also
identified. These works lead to some interesting implications,
which include mechanisms, the possibility, and conditions of "green
growth''. This book proposes a new approach by bridging the gap
between evolutionary-institutional economics and environmental
economics, which should be stimulating to them both and possibly
open the door for a new research avenue.
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