| Summary: | This research proposes an approach to managing the environmental efficiency of the global economy via the optimal economic restructuring. The objective is to promote an increase in energy-environmental efficiency that supports economic growth constrained by greenhouse gas mitigation and energy conservation. The proposed method suggests the way of structural change in a global economy that the national economies should follow by economic restructuring, international cooperation, and trade. By following the recommended course of action, it becomes possible to increase the energy – environmental efficiency of the global economy as a whole via harmonized modifications in output per capita, use of renewable energy, and decrease in energy- and greenhouse gas emissions intensities. A novel stochastic data envelopment analysis with a perfect object method (SDEA PO) is utilized as a mathematical tool. A system of differential-algebraic equations is derived, leading to the determination of the trajectory of locally optimal structural change. • This study introduces a novel method aimed to guide the optimal economic restructuring of the global economy via economic growth constrained by energy conservation and greenhouse gas mitigation. • The suggested model provides guidance for energy-environmentally friendly economic restructuring of the global economy. Method name: Stochastic Data Envelopment Analysis with Perfect Object, Keywords: Energy-environmental efficiency, Optimal economic restructuring, Stochastic data envelopment analysis, Systems of differential-algebraic equations, International trade and cooperation
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