Green technology innovation in emerging economies is driven by ICT, globalization, green energy, and economic growth.
Authors
Anushka Verma, Assistant Professor, Jindal School of Banking and Finance, O.P. Jindal Global University, Sonipat, Haryana, India
Neha Jain, School of Business, University of Petroleum and Energy Studies, Dehradun, India
Arun Kumar Giri, Department of Economics and Finance, Birla Institute of Technology and Science, Pilani, India
Geetilaxmi Mohapatra, Department of Economics and Finance, Birla Institute of Technology and Science, Pilani, India
Sugandha Arora, Department of Information Systems, University of Münster, Münster, Germany
Summary
Purpose: The present study aims to explore the intricate dynamics that shape the development of green technology innovation (GTI) in emerging economies during the period spanning from 2000 to 2020. With a specific focus on the crucial factors of ICT diffusion, globalization, green energy and economic growth, this research aims to elucidate the complex dynamics that contribute to the development of sustainable technological advancements.
Design/methodology/approach: The research employs a fixed-effect regression and the Driscoll-Kraay (DK) standard error approach to analyze long-term relationships and causality among the variables, ensuring robustness to cross-sectional dependence.
Findings: The results indicate a significant and positive relationship between GTI and the selected factors. ICT diffusion, globalization, green energy and economic growth collectively contribute to the advancement of sustainable technology.
Research limitations/implications: The aforementioned insights present a compelling case for policymakers and industry leaders to reevaluate their priorities, emphasizing the need for increased emphasis and encouragement of GTI in emerging markets. By creating a nurturing environment that is conducive to investment and innovation, stakeholders have the potential to accelerate sustainable development pathways. This approach can lead to simultaneous economic growth and environmental stewardship, which are both crucial for long-term sustainability.
Originality/value: This study provides critical insights into the dynamics of GTI in emerging economies, emphasizing the importance of strategic initiatives for fostering sustainability.
Published in: Management of Environmental Quality
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