A pathway toward future sustainability: Assessing the influence of innovation shocks on CO2 emissions in developing economies
A pathway toward future sustainability: Assessing the influence of innovation shocks on CO2 emissions in developing economies
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DOI：
10.1007/s10668-021-01634-3
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发表时间：
2021-07
期刊：
影响因子：
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通讯作者：
Weimin Zhu;M. Chishti;A. Rehman;Manzoor Ahmad
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文献类型：
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作者：
Weimin Zhu;M. Chishti;A. Rehman;Manzoor Ahmad
先前的实证研究主要集中在检查创新对碳排放（CO2e）的顺周期影响，在大多数情况下，对于发达经济体。本文通过将创新的正面冲击和负面冲击整合到模型中，以46个发展中经济体为样本，仔细研究它们对二氧化碳当量的潜在影响，从而对现有文献做出贡献。全球化（GLOB）、可再生能源消费（REC）、化石燃料消费（FFC）、外国直接投资（FDI）和人均GDP作为控制变量。面板完全修正普通最小二乘法（PFM-LS）和面板动态最小二乘法（PD-LS）的应用结果如下：首先，创新的正面冲击破坏了二氧化碳的有害影响，而负面冲击则恶化了环境质量。第二，全球化和REC通过抑制二氧化碳排放来提高生态质量。第三，FDI和FFC与CO2e直接相关，使污染问题更加令人担忧。最后，GDP增长的影响仍然是不利的，它使二氧化碳当量的比率上升。本文还在模型中加入了全球化和REC的正冲击和负冲击，以验证模型的稳健性。有趣的是，创新冲击对生态质量的影响保持一致，表明研究结果的稳健性。为了实现可持续的未来，本文的研究结果建议将创新冲击作为制定更好的环境政策的政策工具。同时指出了研究的局限性，为今后的研究提供了新的思路。
The prior empirical research focuses on examining only the procyclical impact of innovation on carbon emissions (CO2e), in the majority of cases, for advanced economies. The current paper contributes to the extant literature by integrating positive and negative shocks of innovation in the model to scrutinize their potential effects on CO2e for the sample of 46 developing economies. Globalization (GLOB), renewable energy consumption (REC), fossils fuels consumption (FFC), foreign direct investment (FDI), and GDP per capita are embodied as control variables. The application of panel Fully modified ordinary least squares (PFM-LS) and panel Dynamic least squares (PD-LS) approaches exhibits the following results. First, the positive shocks of innovation disrupt the deleterious repercussions of CO2e, while the negative shocks deteriorate the environmental quality. Second, globalization and REC enhance the ecological quality by curbing CO2e. Third, FDI and FFC show the direct association with CO2e and make the pollution issue more alarming. Lastly, the impact of GDP growth also remains unfavorable, and it escalates the ratio of CO2e. The study also includes the positive and negative shocks of globalization and REC in the model to confirm its robustness. Interestingly, the impact of shocks in innovation on the ecological quality remains consistent, indicating the findings' robustness. For a sustainable future, the article’s findings suggest to adopt the innovation shocks as a policy instrument for formulating better environmental policies. Also, some study limitations are presented, which may provide some new sights for future research.