{
  "title": "Restructuring Reforms for Green Growth",
  "publication": "IMF Working Papers, June 9, 2023",
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  "summary": "Policymakers across the world are striving to tackle the century-defining challenge of climate change without undermining potential growth.",
  "sections": [
    {
      "heading": "Summary",
      "content": "- Purpose: Examines the impact of structural reforms in the energy sector (electricity and gas) on environmental outcomes and green growth indicators.\n- Sample and period: Panel of 25 advanced economies during the period 1970-2020.\n- Core conclusion: Structural reforms should be designed not just for market efficiency but also for green growth."
    },
    {
      "heading": "Key findings",
      "content": "- Emissions:\n  - Structural reforms so far failed in reducing greenhouse gas emissions per capita.\n  - There is some evidence for greater effectiveness in lowering emissions per unit of GDP.\n- Renewable energy supply:\n  - Energy reforms are not associated with higher supply of renewable energy as a share of total energy supply.\n- Innovation:\n  - Energy reforms appear to stimulate a sustained increase in environmental inventions and patents per capita over the medium term.\n- Nonlinear effects:\n  - Strong evidence that market-friendly energy reforms lead to better environmental outcomes and green growth in countries with stronger environmental regulations."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Design reforms to target both market efficiency and green growth objectives.\n- Complement market-friendly energy reforms with stronger environmental regulations to achieve better environmental outcomes and stimulate green innovation."
    },
    {
      "heading": "Methodology and scope notes",
      "content": "- Sector focus: Electricity and gas.\n- Outcome measures: Greenhouse gas emissions per capita; emissions per unit of GDP; renewable energy share of total energy supply; environmental inventions and patents per capita.\n- Analytical approach: Panel analysis of reform impacts in 25 advanced economies covering 1970-2020.\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2023/06/08/restructuring-reforms-for-green-growth-534313"
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    "Authors: Serhan Cevik, João Tovar Jalles",
    "Published: June 9, 2023",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9798400244667.001",
    "Purpose: Examines the impact of structural reforms in the energy sector (electricity and gas) on environmental outcomes and green growth indicators.",
    "Sample and period: Panel of 25 advanced economies during the period 1970-2020.",
    "Core conclusion: Structural reforms should be designed not just for market efficiency but also for green growth.",
    "Emissions:",
    "Renewable energy supply:",
    "Innovation:",
    "Nonlinear effects:",
    "Design reforms to target both market efficiency and green growth objectives.",
    "Complement market-friendly energy reforms with stronger environmental regulations to achieve better environmental outcomes and stimulate green innovation.",
    "Sector focus: Electricity and gas.",
    "Outcome measures: Greenhouse gas emissions per capita; emissions per unit of GDP; renewable energy share of total energy supply; environmental inventions and patents per capita.",
    "Analytical approach: Panel analysis of reform impacts in 25 advanced economies covering 1970-2020.",
    "**Working Paper**"
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