Moderating roles of technological innovation and economic complexity in financial development-environmental quality nexus of the BRICS economies

Bibliographic Data

ID11240332
AuthorsAndrew Adewale Alola (0000-0001-5355-3707, İstanbul Nişantaşı Üniversitesi, corresponding author), Tomiwa Sunday Adebayo (0000-0003-0094-1778, Cyprus International University), Taiwo Temitope Lasisi (0000-0003-1912-5391, University of Hradec Králové), Obumneke Bob Muoneke (0000-0001-7314-9832, University of Lagos)
Year2024
Volume78
Pages102581
Publication date2024-09-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueTechnology in Society (JOURNAL)
Journal identifiersISSN: 0160-791X • E-ISSN: 1879-3274
PublisherElsevier BV (PUBLISHER)
DOI10.1016/j.techsoc.2024.102581
OpenAlexW4397031956
LanguageEN
Citations received15
References cited59

The seeming aspects of globalization are certainly not without economic-related opportunities especially in the developing countries such as Brazil, Russia, India, China, and South Africa (BRICS). By employing the cross-sectionally augmented autoregressive distributed lag among other empirical approaches over the period 1995-2017, the following interesting critical results are presented by the investigation. Economic complexity, technological innovation, and financial development all yield desirable outlook toward carbon emission mitigation in the countries while economic growth further shows short- and long-run detrimental effect on environmental quality. Moreover, the combined effect of financial development and economic complexity has no significant effect on carbon emission in the short- and long-run while also neutralizing the direct environmental effect of financial development. Additionally, technological innovation moderate financial development to further mitigate carbon emission, thus justifying the direct and indirect environmental effects of technological innovation. Meanwhile, negative environmental effect of economic growth remained unabated in the entire scenario. This result emphasizes the role of environmental-related technologies transfer in improving the bloc’s environmental sustainability

Business · Economic system · Economics · Environmental quality · Nexus (standard · Political science · Quality (philosophy · Economic and Technological Innovation · Economic Growth and Productivity · Energy, Environment, Economic Growth · Engineering

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