Green growth dynamics in OECD countries: an application of grey relational analysis

Nowadays, growth is the common target of all societies. But rather than growth, it is more important to ensure the sustainability of growth. Worldwide climate changes, damages to natural capital and financial crises necessitate the transition to green growth. The purpose of this paper is to examine the contribution of socio-economic context to green growth, which represents the sum of environmental and resource productivity, natural asset base, the environmental dimension of quality of life and technology.

The paper uses grey relational analysis together with the entropy method to examine the weight of 22 green growth indicators. The green growth indicators based on the compilation of the data from 36 Organization for Economic Co-operation and Development countries in 2015.

The results point out carbon dioxide emissions and environment-related technology are the most essential indicators in achieving green growth across the world.

It provides an objective evaluation of the green growth indicators that creates awareness-raising in green growth, enables the measurement of global developments and the determines opportunities and risks.