Journal article
Innovation, militarization, and renewable energy and green growth in OECD countries
Environmental science and pollution research international, v 28(27), pp 36004-36017
01 Jul 2021
PMID: 33686598
Featured in Collection : UN Sustainable Development Goals @ Drexel
Abstract
Within a framework that includes economic activity, real interest rate, grants, and subsidies, we aim to explore the role of renewable energy, technological innovation, and particularly the environmentally damaging militarization in driving green growth, which fosters sustainable economic growth by ensuring the values of natural assets, considering OECD countries. Our examination affirms a positive proposition between the development of renewable energy, technological innovation, and green growth in the long run by implementing the cross-sectional dependency panel autoregressive-distributed lags (CS-ARDL) framework in a dynamic heterogeneous panel setting. The findings also suggest that militarization is antagonistic to green growth. Our decomposed analysis is compatible with our premier analysis, indicating a conducive impact of both biomass and non-biomass types of renewable energy on green growth. We also document a negative association between the real interest rate (RIR) and green growth, while income muddles the results. The robustness tests confirm the sensitivity of our main findings to the magnitude of the subsidies and grants provided to renewable energy. The paper concludes with several policy recommendations.
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Details
- Title
- Innovation, militarization, and renewable energy and green growth in OECD countries
- Creators
- Kazi Sohag - Ural Federal UniversityShaiara Husain - University of Western AustraliaShawkat Hammoudeh - Drexel UniversityNormah Omar - Universiti Teknologi MARA
- Publication Details
- Environmental science and pollution research international, v 28(27), pp 36004-36017
- Publisher
- Springer Nature
- Number of pages
- 14
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Economics (School of Economics)
- Web of Science ID
- WOS:000626391600015
- Scopus ID
- 2-s2.0-85102295391
- Other Identifier
- 991019167973904721
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- Collaboration types
- Domestic collaboration
- International collaboration
- Web of Science research areas
- Environmental Sciences