Innovation Input, Climate Change, and Energy-Environment-Growth Nexus: Evidence from OECD and Non-OECD Countries

Zhuohang Li, Tao Shen, Yifen Yin, Hsing Hung Chen

Research output: Contribution to journalArticlepeer-review

3 Citations (Scopus)

Abstract

With economic growth and rising incomes, increasing consumption of fossil energy is leading to environmental pollution and climate change, which requires increased innovative inputs to promote the efficiency of renewable energy use. Considering the important impact of innovation input and climate change on renewable energy consumption, greenhouse gas emissions, and green economic growth, this study uses simultaneous equation and sys-GMM model to explore the dynamic nexus of innovation input, climate change, and energy-environment-growth in OECD and non-OECD countries, with panel data covering 2000 to 2019. The empirical results show that renewable energy consumption in non-OECD countries significantly promoted green economic growth, while OECD countries did the opposite. Moreover, renewable energy consumption significantly reduces greenhouse gas emissions caused by climate change, especially for OECD countries. When the level of economic growth exceeds a certain inflection point, greenhouse gas emissions begin to turn from positive to negative, which further verifies the EKC hypothesis. In addition, this study found that innovation input has significantly increased renewable energy consumption, reduced greenhouse gas emissions, and promoted green economic growth in OECD countries. Finally, this study also found that the impact of innovation input in OECD and non-OECD countries on the energy-environment-growth nexus is greater in the short term and more significant in the medium and long term, while the impact of climate change on the energy-environment nexus in OECD and non-OECD countries is more significant in the medium and long term.

Original languageEnglish
Article number8927
JournalEnergies
Volume15
Issue number23
DOIs
Publication statusPublished - Dec 2022

Keywords

  • climate change
  • green economic growth
  • greenhouse gas emissions
  • innovation input
  • renewable energy consumption
  • simultaneous equation model

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