Reforming Fiscal Policy Towards Inclusive Growth in Africa: From Brown Growth to Green Economy
18 Pages Posted: 10 Jul 2016
Date Written: May 30, 2016
This study examines the state of transition to green economies in Africa. It dissects policy dilemma surrounding fiscal reforms towards green economy. Through empirical and theoretical framework, the study clarifies the ambiguity surrounding the concepts of ‘green growth’ and ‘green economy’, and contextualizes their usage in a manner that addresses Africa’s needs for inclusive growth and sustainable development. Also, a proposed model on the logical complex of fiscal policy reforms on green economy demonstrates that institutional capacity, public perception; entrusted interest and governance are critical variables to address during fiscal policy reforms on green economy in Africa. Findings from the state of transition to a green economy reveal great potentials: in the East Africa, Kenya takes leading role; in the Southern Africa, South Africa and in the West Africa, Ghana. Nevertheless, further finding reveals that the transitions to green economy in Africa are still mainly financed through foreign assistance programmes. African governments and private-enterprises should take leading roles in the funding of green economy projects while complementing with foreign aids and expertise in order to guarantee sustainable policy implementation and inclusive growth for Africans.
Keywords: Brown Growth, Fiscal Policy Reforms, Green Economy, Green Growth, Inclusive Growth, Sustainable Development
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