The role of technological innovation and diffusion, energy consumption and financial development in affecting ecological footprint in BRICS: an empirical analysis
Economic activities, technological innovation and diffusion, energy consumption and financial development have been significant in BRICS countries over the last three decades. Corresponding to it, BRICS have been facing substantial environmental deterioration. The growth of such factors needs a comp...
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| Veröffentlicht in: | Environmental science and pollution research international 2022-04, Vol.29 (17), p.25318-25335 |
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| creator | Rout, Sanjay Kumar Gupta, Mohini Sahoo, Malayaranjan |
| description | Economic activities, technological innovation and diffusion, energy consumption and financial development have been significant in BRICS countries over the last three decades. Corresponding to it, BRICS have been facing substantial environmental deterioration. The growth of such factors needs a comprehensive analysis. Hence, this paper examines the impact of technological innovation and diffusion, renewable and non-renewable energy consumption and financial development on ecological footprint under the Kuznets framework in BRICS countries over the time from 1990 to 2018. To confirm the long- and short-run relationship, we apply the second-generation and heterogeneity panel techniques. Where, to measure the impact of technological innovation and diffusion, energy consumption and financial development and other control variable on ecological footprint we use Westerlund Co-integration and pooled mean group (PMG) model for this interest. The results reveal that technological diffusion and non-renewable energy consumption deteriorate environmental quality in the long run. In contrast, renewable energy and technological innovation improve environmental sustainability/quality significantly. Further, results also confirm the existence of the EKC hypothesis. The study suggests that the government should encourage technological innovation and renewable energy consumption to improve environmental quality and achieve the sustainable development goal (SDG). |
| doi_str_mv | 10.1007/s11356-021-17734-6 |
| format | Article |
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Corresponding to it, BRICS have been facing substantial environmental deterioration. The growth of such factors needs a comprehensive analysis. Hence, this paper examines the impact of technological innovation and diffusion, renewable and non-renewable energy consumption and financial development on ecological footprint under the Kuznets framework in BRICS countries over the time from 1990 to 2018. To confirm the long- and short-run relationship, we apply the second-generation and heterogeneity panel techniques. Where, to measure the impact of technological innovation and diffusion, energy consumption and financial development and other control variable on ecological footprint we use Westerlund Co-integration and pooled mean group (PMG) model for this interest. The results reveal that technological diffusion and non-renewable energy consumption deteriorate environmental quality in the long run. In contrast, renewable energy and technological innovation improve environmental sustainability/quality significantly. Further, results also confirm the existence of the EKC hypothesis. 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Corresponding to it, BRICS have been facing substantial environmental deterioration. The growth of such factors needs a comprehensive analysis. Hence, this paper examines the impact of technological innovation and diffusion, renewable and non-renewable energy consumption and financial development on ecological footprint under the Kuznets framework in BRICS countries over the time from 1990 to 2018. To confirm the long- and short-run relationship, we apply the second-generation and heterogeneity panel techniques. Where, to measure the impact of technological innovation and diffusion, energy consumption and financial development and other control variable on ecological footprint we use Westerlund Co-integration and pooled mean group (PMG) model for this interest. The results reveal that technological diffusion and non-renewable energy consumption deteriorate environmental quality in the long run. In contrast, renewable energy and technological innovation improve environmental sustainability/quality significantly. Further, results also confirm the existence of the EKC hypothesis. The study suggests that the government should encourage technological innovation and renewable energy consumption to improve environmental quality and achieve the sustainable development goal (SDG).</description><subject>Aquatic Pollution</subject><subject>Atmospheric Protection/Air Quality Control/Air Pollution</subject><subject>Carbon Dioxide</subject><subject>Diffusion</subject><subject>Earth and Environmental Science</subject><subject>Ecological footprint</subject><subject>Economic analysis</subject><subject>Economic Development</subject><subject>Ecotoxicology</subject><subject>Empirical analysis</subject><subject>Energy consumption</subject><subject>Environment</subject><subject>Environmental Chemistry</subject><subject>Environmental degradation</subject><subject>Environmental Health</subject><subject>Environmental quality</subject><subject>Environmental science</subject><subject>Footprint 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Corresponding to it, BRICS have been facing substantial environmental deterioration. The growth of such factors needs a comprehensive analysis. Hence, this paper examines the impact of technological innovation and diffusion, renewable and non-renewable energy consumption and financial development on ecological footprint under the Kuznets framework in BRICS countries over the time from 1990 to 2018. To confirm the long- and short-run relationship, we apply the second-generation and heterogeneity panel techniques. Where, to measure the impact of technological innovation and diffusion, energy consumption and financial development and other control variable on ecological footprint we use Westerlund Co-integration and pooled mean group (PMG) model for this interest. The results reveal that technological diffusion and non-renewable energy consumption deteriorate environmental quality in the long run. 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| subjects | Aquatic Pollution Atmospheric Protection/Air Quality Control/Air Pollution Carbon Dioxide Diffusion Earth and Environmental Science Ecological footprint Economic analysis Economic Development Ecotoxicology Empirical analysis Energy consumption Environment Environmental Chemistry Environmental degradation Environmental Health Environmental quality Environmental science Footprint analysis Heterogeneity Innovations Inventions Renewable Energy Renewable resources Research Article Sustainable development Technological change Waste Water Technology Water Management Water Pollution Control |
| title | The role of technological innovation and diffusion, energy consumption and financial development in affecting ecological footprint in BRICS: an empirical analysis |
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