ArticleEnvironmental science and pollution research international2021
Linking financial development, economic growth, and ecological footprint: what is the role of technological innovation?
Article in Environmental science and pollution research international, 2021. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 29 papers.
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Who cites it
29 citing papers in PubMed.
- Energy transition, digitalization, financial development, and human capital shape pathways to carbon neutrality in South Asia.Scientific reports · 2026Article
- Exploring the effects of global value chain participation, technological eco-innovation and natural resource rents on environmental quality in the EU-14.Scientific reports · 2025Article
- Harnessing technological innovation and renewable energy and their impact on environmental pollution in G-20 countries.Scientific reports · 2025Article
- From invention to progress: Energy technology innovation and sustainable development in OECD economies.PloS one · 2025Article
- Sustainable development in Southeast Asia: The nexus of tourism, finance, and environment.Heliyon · 2024Article
- Does trade policy uncertainty hurt renewable energy-related sustainable development goals in China?Heliyon · 2024Article
- Calculation and analysis of the efficiency of resource allocation for technological innovation in China.PloS one · 2024Article
- Article
- How to achieve carbon neutrality while maintaining economic vitality: An exploration from the perspective of technological innovation and trade openness.The Science of the total environment · 2023Article
- Asymmetric effect of structural change and renewable energy consumption on carbon emissions: designing an SDG framework for Turkey.Environment, development and sustainability · 2023Article
- Do green bonds offer a diversification opportunity during COVID-19?-an empirical evidence from energy, crypto, and carbon markets.Environmental science and pollution research international · 2023Article
- Asymmetric nexus between technological innovation and environmental degradation in Sweden: an aggregated and disaggregated analysis.Environmental science and pollution research international · 2022Article
- Exploring the linkage between export diversification and ecological footprint: evidence from advanced time series estimation techniques.Environmental science and pollution research international · 2022Article
- The interrelationships among financial development, economic growth and environmental sustainability: evidence from Ghana.Environmental science and pollution research international · 2022Article
- Review
- The long-run relationship between energy consumption, oil prices, and carbon dioxide emissions in European countries.Environmental science and pollution research international · 2022Article
- Wavelet analysis of impact of renewable energy consumption and technological innovation on COEnvironmental science and pollution research international · 2022Article
- The role of economic complexity in the environmental Kuznets curve of MINT economies: evidence from method of moments quantile regression.Environmental science and pollution research international · 2022Article
- Effects of economic complexity, economic growth, and renewable energy technology budgets on ecological footprint: the role of democratic accountability.Environmental science and pollution research international · 2022Article
- The role of technological innovation and diffusion, energy consumption and financial development in affecting ecological footprint in BRICS: an empirical analysis.Environmental science and pollution research international · 2022Article
Corrections and comments
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Authors and funding
5 authors.
Funding
No grant is acknowledged in the PubMed record.
Abstract
The literature analyzing the ecological impacts of financial development (FD) documents mixed results. In addition, very limited researches consider the role of technological innovation in ecological sustainability even though technological innovation is indispensable to achieve technological advancement, which may help in sustainable development and ecological sustainability. Therefore, this work probes the effects of technological innovation, financial development, and economic growth (GDP) on the ecological footprint (EF) controlling urbanization and employing a STIRPAT framework. The analysis of data from West Asia and Middle East nations from 1990 to 2017 revealed cointegration in the model. The long-run coefficients produced by the continuously updated fully modified technique revealed that a 1% upsurge in technological innovation decreases EF by 0.010%. Interestingly, technological innovation is helpful to decrease EF and enhance economic growth in the West Asia and Middle East (WAME) countries. However, a 1% rise in FD boosts the level of EF by 0.0016% inferring that FD stimulates ecological degradation. Likewise, urbanization in the WAME countries raises EF levels and contributes adversely to ecological quality. In addition to this, the study revealed the environmental Kuznets curve hypothesis in the selected countries accounting for technological innovation, FD, and urbanization in the model. The causal analysis provided evidence of unidirectional causality from FD to EF and bidirectional causality between technological innovation and EF. The study recommends more investment in research and development and strong collaboration between the universities and industries to promote the level of technological innovation for both sustainable development and ecological sustainability. In addition, urban sustainability policies are necessary without decreasing the urbanization level.
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