Is the low-carbon economy efficient in terms of sustainable development? A global perspective

Despite great efforts being devoted to, and substantial resources being consumed by low-carbon economy (LCE) development globally, it appears that little is known about whether LCE development is efficient. This paper measures low-carbon economy efficiency (LCEE) performance from a global perspective. The Super-slack-based measure model is adopted to analyse the LCEE performance of 115 sample countries during 1999-2013. The Malmquist Productivity Index is used to evaluate the dynamic change of LCEE between sample countries. The results indicate that overall worldwide LCEE performance is at low levels, and the differences in LCEE performance among the 115 sample countries are significant. It also indicates that LCEE performance is generally better in developed countries. From the dynamic perspective, a significant improvement in LCEE performance was achieved globally during the survey period, with an overall annual increase of 0.75%. These results provide a valuable reference to policy-makers and practitioners for adopting measures to promote LCE development effectively at a global level.