Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2022.2142262
Influence of green financing, technology innovation, and trade openness on consumptionbased carbon emissions in BRICS countries
Yuxin Liu
Ping Lei
Zhihao Zhao
Ying Sun
Sažetak
The study explores the dynamic effects of renewable energy investment
(green financing), green technology, and trade openness
on consumption-based (trade-adjusted) carbon emissions in BRICS
economies from 2000 to 2020. The study employs the cross-section
autoregressive distributed lag method for empirical estimation to
address slope heterogeneity and cross-sectional dependency issues in
panel data. The findings exhibit that green financing and sustainable
technologies mitigate consumption-based carbon emissions in the
long-run, while trade openness contributes to emissions in BRICS countries.
The short-run outcomes are compatible with long-run; however,
the magnitude of long-run estimates is larger than the short-run.
Moreover, the error correction term reveals a significant negative coefficient
value, endorsing the conversion towards steady-state equilibrium
with a 37% yearly adjustment rate in case of any deviation from
equilibrium. The robustness of results is confirmed through augmented
mean group and common correlated effect mean group.
These findings imply that BRICS countries should encourage financing
in renewable energy projects and allocate R&D investment to promote
the adaptation of sustainable technologies. In addition, sustainable
and green trade policies would help to curb trade-adjusted pollution.
Ključne riječi
Green technology innovation; green finance; trade openness; consumption-based carbon emissions; BRICS
Hrčak ID:
306765
URI
Datum izdavanja:
30.4.2023.
Posjeta: 495 *