Anahtar Kelimeler
Nasıl Atıf Yapılır
Özet
This study empirically examines the role of renewable energy innovation in promoting green GDP growth while reducing carbon intensity within BRICS economies. Utilizing panel data econometrics and dynamic System GMM estimation over the period 2010–2022, the analysis integrates innovation indices, patent data, and R&D expenditures to capture technological progress. Results indicate that renewable energy innovation significantly enhances green economic growth, supported by complementary factors such as human capital, financial development, and foreign direct investment, while carbon emissions from energy use negatively impact growth. These findings underscore the critical importance of fostering innovation ecosystems, strengthening human capital, and improving institutional frameworks to accelerate sustainable development in emerging markets. Policy recommendations include targeted investments in clean technology R&D, financial incentives for green innovation, and regulatory reforms to attract quality FDI for sustainable energy transitions.
Referanslar
Adebayo, T. S., Rjoub, H., & Kirikkaleli, D. (2023). The role of renewable energy consumption and technological innovation in achieving sustainable development: Evidence from emerging economies. Energy & Environment, 34(1), 57–81.
Adedoyin, F. F., Gumede, M. I., Bekun, F. V., Etokakpan, M. U., & Balsalobre Lorente, D. (2022). Endorsing sustainable development in BRICS: The role of technological innovation, renewable energy consumption, and natural resources in limiting carbon emission. Energy Economics.
Aghion, P., & Howitt, P. (1992). A model of growth through creative destruction. Econometrica, 60(2), 323–351.
Aghion, P., Dechezleprêtre, A., Hémous, D., Martin, R., & Van Reenen, J. (2019). Carbon taxes, path dependency, and directed technical change: Evidence from the auto industry. Journal of Political Economy, 127(6), 2936–2974.
Aghion, P., Hepburn, C., Teytelboym, A., & Zenghelis, D. (2016). Path dependency, innovation and the economics of climate change. Structural Change and Economic Dynamics, 39, 1–14.
Acemoglu, D., Aghion, P., Bursztyn, L., & Hemous, D. (2016). The environment and directed technical change. American Economic Review, 106(1), 131–166.
Acemoglu, D., Akcigit, U., & Kerr, W. (2018). Innovation network. Proceedings of the National Academy of Sciences, 115(9), 2549–2554.
Álvarez‐Herranz, A., Gómez, C. M., González‐Écija, R., & de Lucia, C. (2024). Impact of Renewable Energy on Economic Growth and CO₂ Emissions—Evidence from BRICS Countries. Processes, 9(8), 1281.
Alola, A. A., Bekun, F. V., & Sarkodie, S. A. (2021). Dynamics of renewable energy consumption and technological innovation in sustainable growth: Evidence from European countries. Renewable Energy, 170, 1406–1415.
Arellano, M., & Bond, S. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Review of Economic Studies, 58(2), 277–297.
Arellano, M., & Bover, O. (1995). Another look at the instrumental variable estimation of error-components models. Journal of Econometrics, 68(1), 29–51.
Blundell, R., & Bond, S. (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, 87(1), 115–143.
Cass, D. (1965). Optimum growth in an aggregative model of capital accumulation. Review of Economic Studies, 32(3), 233–240.
Chen, W., Huang, X., & He, C. (2021). Renewable energy innovation and green economic growth: Evidence from emerging economies. Energy Policy, 155, 112321.
Chen, Y., Li, K., & Song, M. (2024). Green innovation and economic development: Evidence from global emerging markets. Technological Forecasting and Social Change, 203, 122002.
Du, K., & Li, W. (2020). Environmental regulation and green productivity growth in China’s manufacturing industries. Economic Modelling, 90, 275–285.
Fakher, H. A., Nathaniel, S. P., Ahmed, Z., Ahmad, M., & Moradhasel, N. (2024). The environmental repercussions of financial development and green energy in BRICS economies: From the perspective of new composite indices. Energy & Environment, 35(1), 123–145.
Friedlingstein, P., et al. (2020). Global Carbon Budget 2020. Earth System Science Data, 12, 3269–3340.
Ge, Q., & Jiang, X. (2022). Does green environmental policy promote renewable energy consumption in BRICS? Fresh insights from panel quantile regression. Environmental Economics and Policy Studies, 24(4), 657–685.
Geels, F. W., Sovacool, B. K., Schwanen, T., & Sorrell, S. (2017). Sociotechnical transitions for deep decarbonization. Science, 357(6357), 1242–1244.
Ghosh, S., & Nanda, S. (2023). Financial development, innovation, and sustainable growth: Evidence from emerging markets. Journal of Cleaner Production, 385, 135734.
Grossman, G. M., & Helpman, E. (2019). Innovation and growth in the global economy. MIT Press.
Gumede, M. I., Bekun, F. V., & Balsalobre Lorente, D. (2023). BRICS and the climate challenge: Navigating the role of factor productivity and institutional quality in CO₂ emissions. Environmental Science and Pollution Research, 31, 4348–4364.
International Energy Agency (IEA). (2024). Renewables 2024: Analysis and forecast to 2029. https://www.iea.org/reports/renewables-2024
Khan, I., Hou, F., & Ali, M. (2022). The effect of foreign direct investment on renewable energy consumption subject to the moderating effect of environmental regulation: Evidence from the BRICS countries. Renewable Energy, 201, 135–149.
Khan, M. K., Dong, K., & Ahmed, S. (2020). Innovation, energy efficiency and environmental sustainability: An empirical analysis of BRICS economies. Environmental Science and Pollution Research, 27(22), 27908–27923.
Li, C., & Ma, X. (2022). Technological innovation and sustainable growth: Evidence from the BRICS economies. Journal of Cleaner Production, 366, 132870.
Liu, Y., Xu, L., & Zhang, B. (2022). The impact of human capital and innovation on sustainable energy transition. Technological Forecasting and Social Change, 174, 121183.
Martínez‐Zarzoso, I., & Mansanet‐Bautista, J. (2020). The impact of renewable energy and economic complexity on carbon emissions in BRICS countries under the EKC scheme. Energies, 14(16), 4908.
Mol, A. P. J., & Sonnenfeld, D. A. (2020). Ecological modernization theory: Taking stock, moving forward. Annual Review of Sociology, 46, 289–308.
Noailly, J., & Smeets, R. (2015). Directing technical change from fossil-fuel to renewable energy innovation: An application using firm-level patent data. Journal of Environmental Economics and Management, 72, 15–37.
Pan, Y., Xiao, Z., & Li, Y. (2024). Patenting for profitability: Green energy innovations and firm performance in BRICS countries. Frontiers in Environmental Science, 12, 133279.
Pan, W., & Pan, X. (2022). Are innovation and renewable energy effective in mitigating CO₂ emissions in BRICS countries? Environmental Science and Pollution Research, 29(33), 49613–49625.
Romer, P. M. (1986). Increasing returns and long-run growth. Journal of Political Economy, 94(5), 1002–1037.
Romer, P. M. (1990). Endogenous technological change. Journal of Political Economy, 98(5, Part 2), S71–S102.
Sadorsky, P. (2011). Trade and energy consumption in the Middle East. Energy Economics, 33(5), 739–749.
Sarkodie, S. A., & Adams, S. (2020). Renewable energy, nuclear energy, and environmental pollution: Accounting for political institutional quality in South Africa. Science of The Total Environment, 643, 1590–1601.
Sarkodie, S. A., & Strezov, V. (2019). A review on environmental Kuznets curve hypothesis using bibliometric and meta-analysis. Science of The Total Environment, 649, 128–145.
Schumpeter, J. A. (1939). Business cycles: A theoretical, historical and statistical analysis of the capitalist process. McGraw-Hill.
Schumpeter, J. A. (1942). Capitalism, socialism and democracy. Harper & Brothers.
Sharif, A., Afshan, S., & Qureshi, M. A. (2019). Revisiting the environmental Kuznets curve hypothesis for Pakistan: Fresh evidence from ARDL bounds testing approach. Renewable and Sustainable Energy Reviews, 82, 954–962.
Sharif, A., Saha, S., Campbell, N., & Sinha, A. (2021). Nexus between climate variability, renewable energy, and carbon emissions in selected ASEAN countries: New insights from quantile-on-quantile regression approach. Renewable Energy, 164, 956–968.
Solow, R. M. (1956). A contribution to the theory of economic growth. Quarterly Journal of Economics, 70(1), 65–94.
Stern, D. I. (2011). The role of energy in economic growth. Annals of the New York Academy of Sciences, 1219(1), 26–51.
Stokey, N. L. (1995). R&D and economic growth. Review of Economic Studies, 62(3), 469–489.
United Nations Environment Programme (UNEP). (2023). Emissions Gap Report 2023: Broken record – Temperatures hit new highs, yet world fails to cut emissions (again). https://www.unep.org/resources/emissions-gap-report-2023
United Nations. (2015). Transforming our world: The 2030 Agenda for Sustainable Development. https://sdgs.un.org/2030agenda
Wang, Z., Bui, T. M., & Zhang, B. (2021). Technological innovation and CO₂ emissions: A spatial econometric analysis of BRICS countries. Energy, 232, 121066.
World Bank. (2024). World Development Indicators. https://databank.worldbank.org/source/world-development-indicators
Zhang, Y., Liu, Z., Zhang, H., & Tan, T. (2022). Does green technology innovation mitigate CO₂ emissions? Evidence from BRICS countries. Journal of Environmental Management, 307, 114409.
Zhao, X., Shao, S., & Yang, L. (2022). Environmental regulation and green innovation: Evidence from China’s manufacturing industries. Technological Forecasting and Social Change, 184, 121997.
Zhou, D., Kong, Y., Sha, J., & Zhang, J. (2021). The role of technological innovation in achieving a global sustainable energy transition. Energy Policy, 157, 112502.
Zhu, H., Du, J., & You, W. (2021). Technological innovation and CO₂ emissions: Evidence from the manufacturing industry in China. Technological Forecasting and Social Change, 167, 120728.
Bu çalışma Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License ile lisanslanmıştır.
Telif Hakkı (c) 2025 Ahmed Oluwatobi ADEKUNLE