Spatial spillover effects of green technology innovation and renewable energy on ecological sustainability

New evidence and analysis

Datos Bibliográficos

ID12306358
AutoresRiza Radmehr (0000-0002-0506-2361, Department of Agricultural Economics Ferdowsi University of Mashhad Mashhad Iran, autor de correspondencia), Samira Shayanmehr (0000-0002-4622-5710, Department of Agricultural Economics Ferdowsi University of Mashhad Mashhad Iran, autor de correspondencia), Ernest Ali Baba (Department of Environmental Economics Ural Federal University Yekaterinburg Russia), Ahmed Samour (0000-0003-1477-7454, Department of Accounting Dhofar University Salalah Oman), Tomiwa Sunday Adebayo (0000-0003-0094-1778, Faculty of Economics and Administrative Sciences, Department of Business Administration Cyprus International University Mersin Turkey)
Año2023
Volumen32
Número3
Páginas1743-1761
Fecha de publicación2023-09-07
Peer ReviewedSí
Open AccessSí
TipoARTICLE
RevistaSustainable Development (JOURNAL)
Identificadores de la revistaISSN: 0968-0802 • E-ISSN: 1099-1719
EditorialWiley (PUBLISHER • GB)
DOI10.1002/sd.2738
OpenAlexW4386563701
IdiomaEN
Citas recibidas21
Referencias citadas99

Rapid industrialization and modernization have drastically impaired ecological sustainability and increased ecological footprint (EFP). Despite the vital relevance of renewable energy (REC) and green technological innovation (GTI), in many facets of life, the part played by these factors and their spatial spillover effects in exploring ecological sustainability in EU countries has yet to be well studied. Thus, using a spatial panel econometric technique, this research investigates the direct and spillover effects of GTI and REC on ecological sustainability in 20 selected EU nations between 1995 and 2018. First, the empirical results affirm a positive spatial connection of EFP across nations, implying that employing spatial models can provide more trustworthy results than traditional econometric approaches. Second, both GTI and REC tend to significantly promote domestic ecological sustainability. Third, the environmental quality of EU countries benefit from the high GTI, REC, and human capital of their neighboring nations. Fourth, economic growth and financial globalization (FG) have a negative and significant effect on environmental quality. Other empirical analyses indicated that the indirect effect of FG on EFP is positive and significant. With a focus on the EU countries, this paper assists policymakers in developing a comprehensive strategy for enhancing ecological responsibility via renewable energy and green technology innovation

Ecological footprint · Ecological modernization · Economic geography · Economic growth · Economic system · Economics · Human capital · Macroeconomics · Natural resource economics · Panel data · Renewable energy · Spillover effect · Sustainability · Sustainable development · Economic and Environmental Valuation · Energy, Environment, Economic Growth · Environmental Impact and Sustainability · Ecology