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Drivers of green innovation in BRICS countries: exploring tripple bottom line theory

Xiaotian Qi
Zilin Yang

Puni tekst: engleski pdf 1.713 Kb

preuzimanja: 19



Green technology adoption is indispensable for sustainable
growth. Therefore, this study examines the determinants of green
innovation in BRICS countries considering the Triple Bottom Line
Theory (social, environmental, and economic). A cross-sectional
autoregressive distributed lag (CS-ARDL) model is applied for
empirical analysis from 1990 to 2019. The findings show that
social, economic, and environmental factors significantly derive
green innovation in the long run. However, their marginal contribution
is substantially varied. A 1% increase in economic factors
increases green innovation by 0.290%, while environmental concerns
induce innovation by 0.438% in the long run. In contrast,
social factors possess a relatively lower influence on green innovation,
with a coefficient magnitude of 0.175%. Lastly, globalization
stimulates green innovation by 0.310%. Similar results are
observed in the short run; however, the magnitude of variables is
significantly lower than long-run. These results are also validated
using alternative estimators and recommend TBL factors as core
drivers of green innovation in BRICS countries.

Ključne riječi

Tripple bottom line; green innovation; sustainability; BRICS countries

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