Achieving and Sustaining the Green Economy and It Potential Benefit to the Economic Growth of Sierra Leone: Empirical Analysis
The study examines the possible advantages of establishing and maintaining a green economy in Sierra Leone, focusing on social progress, environmental sustainability, and economic growth. The research aims to provide a scientifically grounded and research-based understanding of the process of transitioning to a green economy and its effects on Sierra Leone's economic development by examining important sectors like aquaculture, fisheries, and agriculture. This empirical study looks at the relationship between fishing, aquaculture, and agriculture and Sierra Leone's economic growth from 1990 to 2018 using regression models and statistical analyses. The study looks at the relationships between green economic practices and economic growth using a number of techniques, including correlation, Granger causality, and unit root tests. According to the findings, Sierra Leone urgently needs a green economy because of its vulnerability to environmental degradation, climate change shocks, and macroeconomics issues. The study accentuates the possible advantages of agriculture, fishing, and aquaculture for economic expansion and upswing. It also emphasizes how important it is to adopt sustainable practices and green technologies to reduce the risks associated with climate change. The recognition of the links between green economic principles and Sierra Leone's economic growth has increased as a result of this study. To facilitate the shift to a green economy, the study suggests implementing economic and fiscal policy tools, stepping up current initiatives, and enforcing regulations. In addition, building a supportive investment climate, encouraging stakeholder engagement, and fostering institutional collaboration are essential to establishing and maintaining a green economy in Sierra Leone. The analysis examines the potential advantages of establishing and maintaining a green economy in Sierra Leone, focusing on social progress, environmental sustainability, and economic growth.
Authors
- Matthew Turay (ORCID: https://orcid.org/0000-0002-7332-4052)
- Emmanuel Bongay
Institutions
- University of Makeni (SL)
- Pan African University Institute for Basic Sciences, Technology and Innovation (KE)
Publication Details
- Journal
- International Journal of Agricultural Economics
- Published
- 2024-08-30
- DOI
- https://doi.org/10.11648/j.ijae.20240904.15
- Primary Topic
- Sustainable Development and Environmental Policy
- Type
- article
- Field-Weighted Citation Impact
- 0.00