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Do green technological innovation, financial development, economic policy uncertainty, and institutional quality matter for environmental sustainability?

Do green technological innovation, financial development, economic policy uncertainty, and... Environmental sustainability is a pressing global concern that demands urgent attention from policymakers and researchers. The objective of our research is to investigate the influence of economic policy uncertainty (determined by the world uncertainty index) and financial development on carbon emissions, followed by green technological innovation, institutional quality, economic growth, foreign direct investment, energy consumption, and trade in Organization of Economic Co-operation and Development, for the period 2003–2019, to analyse the data, the second-generation econometric techniques are used. We applied the two-stage sequential techniques of the linear panel data model and generalised method of moments approach to tackle the endogeneity problem and report robust findings. The findings of the study revealed that economic policy uncertainty, financial development, economic growth, energy consumption, and trade decrease environmental quality by increasing CO2 emissions, while green technological innovation and institutional quality increase environmental degradation by reducing CO2 emissions. Our evidence-based study provides significant outcomes for green technological innovation and institutional quality conditioning’s role in reducing carbon emissions in OECD economies. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png All Earth Taylor & Francis

Do green technological innovation, financial development, economic policy uncertainty, and institutional quality matter for environmental sustainability?

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Do green technological innovation, financial development, economic policy uncertainty, and institutional quality matter for environmental sustainability?

Abstract

Environmental sustainability is a pressing global concern that demands urgent attention from policymakers and researchers. The objective of our research is to investigate the influence of economic policy uncertainty (determined by the world uncertainty index) and financial development on carbon emissions, followed by green technological innovation, institutional quality, economic growth, foreign direct investment, energy consumption, and trade in Organization of Economic Co-operation and...
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Publisher
Taylor & Francis
Copyright
© 2023 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group.
eISSN
2766-9645
DOI
10.1080/27669645.2023.2200330
Publisher site
See Article on Publisher Site

Abstract

Environmental sustainability is a pressing global concern that demands urgent attention from policymakers and researchers. The objective of our research is to investigate the influence of economic policy uncertainty (determined by the world uncertainty index) and financial development on carbon emissions, followed by green technological innovation, institutional quality, economic growth, foreign direct investment, energy consumption, and trade in Organization of Economic Co-operation and Development, for the period 2003–2019, to analyse the data, the second-generation econometric techniques are used. We applied the two-stage sequential techniques of the linear panel data model and generalised method of moments approach to tackle the endogeneity problem and report robust findings. The findings of the study revealed that economic policy uncertainty, financial development, economic growth, energy consumption, and trade decrease environmental quality by increasing CO2 emissions, while green technological innovation and institutional quality increase environmental degradation by reducing CO2 emissions. Our evidence-based study provides significant outcomes for green technological innovation and institutional quality conditioning’s role in reducing carbon emissions in OECD economies.

Journal

All Earth – Taylor & Francis

Published: Dec 31, 2023

Keywords: Economic policy uncertainty; financial development; green technology innovation; institutional quality; CO 2 emissions

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