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Accepted (AM)Open Access (License Unspecified), Open
Journal article
Long-run relationship between R&D investment and environmental sustainability: Evidence from the European Union member countries
International journal of finance and economics, v 26(4), pp 5775-5792
01 Oct 2021
Featured in Collection : UN Sustainable Development Goals @ Drexel
Abstract
The researchers, environmental scientists and policymakers around the world are exerting substantial efforts to mitigate the growth of CO(2)emissions to save the planet. A number of measures and initiatives, such as, energy efficiency, renewable energy technologies and emission-control are proposed in order to reduce CO(2)emissions. This study examines the long-run relationship between R&D investment and environmental sustainability in a panel of 25 European Union (EU) member countries over a period of 17 years (1998-2014). We use robust and reliable econometric methods to capture the interactions between R&D investment on renewable energy consumption and CO(2)emissions. The findings confirm that the growth of R&D expenditures promotes renewable energy consumption and plays a significant role in reducing CO(2)emissions in the sample countries. Furthermore, the findings suggest that increasing the share of renewable energy consumption in the total energy mix also reduces CO(2)emissions. Given these results, we suggest that the EU policymakers provide more financial and regulatory assistance to the R&D activities, specifically in the energy sector, to ensure promoting low carbon economies in this region.
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Details
- Title
- Long-run relationship between R&D investment and environmental sustainability: Evidence from the European Union member countries
- Creators
- Sudharshan Reddy Paramati - University of DundeeMd Samsul Alam - De Montfort Univ, Fac Business & Law, Leicester Castle Business Sch, Leicester, Leics, EnglandShawkat Hammoudeh - Drexel UniversityKhalid Hafeez - De Montfort University
- Publication Details
- International journal of finance and economics, v 26(4), pp 5775-5792
- Publisher
- Wiley
- Number of pages
- 18
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Economics (School of Economics)
- Web of Science ID
- WOS:000555530200001
- Scopus ID
- 2-s2.0-85088947910
- Other Identifier
- 991019167944204721
UN Sustainable Development Goals (SDGs)
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- Collaboration types
- Domestic collaboration
- International collaboration
- Web of Science research areas
- Business, Finance