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Technological innovations are the important sources of economic growth of a country and it is inter associated with other factors such as energy consumption, economic growth and carbon dioxide emission. A change in these factors affect the capability of technological innovation and thus the effect of these factors on innovations need to be explored. This study investigates the effect of carbon dioxide, energy consumption and economic growth on innovations proxies by different innovations indicators. The sample data is collected from 1980 to 2019 of the world 181 countries and OLS, fixed effect, two step Generalized method of moments and panel quantile regression models were employed for data analysis. The results reveal that carbon dioxide and economic growth increase technological innovations while the inflow of FDI decrease innovations output. Energy consumption also negatively affects innovation indicators except for research and development. In the case of quantile regression, energy consumption is positive while carbon dioxide and foreign direct investment are negative across different quantiles for research and development. Energy consumption and foreign direct investment reduce technological innovations proxy by patent application residents while carbon dioxide and economic growth increase it. The findings of this study have considerable policy suggestions for the global countries.

The debate on financial development and economic growth has been comprehensively growing for a long time in the theoretical and empirical literature but there is still conflicting views on this association. Several studies have been conducted on different regions and countries whether banks or stock market finance have any influence on economic growth but the results are still far from a significant conclusion. The empirical findings inclined the view that both banks and stock markets have positive impact on economic growth however some studies support the negative association which may varies on different sample of countries, methodology of the study, proxies for financial development and over time. Based on the ongoing debate, the current study examines the impact of both stock markets and bank based financial development on economic growth in four developing countries of south Asia for the period of 1980-2017.  The study use static, dynamic and long run estimators to efficiently investigate this association. The outcomes specify that both market-based and bank-based financial development indices affect economic growth significantly and positively which indicates that the development of banking system and stock markets perform a very propounding role in strengthening economic growth in the sample countries. The long-run estimators also confirm the presence of long run association between variables. The robustness tests confirm the results of all models that both banks and stock markets development are important and contribute to economic growth in the same way in the sample countries and can’t be differentiated. The findings of this study have important policy suggestions to the sample countries government’s channels, regulatory and supervisory efforts on further improvement of both stock markets and bank-based development in order to attain higher economic growth.

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This study explores the contribution of banking sector development to economic growth for a sample of four south Asian countries namely, Sri Lanka, Bangladesh, Pakistan and India. The study employed Fixed Effect (FE), Difference GMM and System GMM models to the data set for the period of 1980 -2017. The findings of the study indicates that bank based financial development index constructed of private sector credit, board money(M2) and domestic credit provided by banks affect economic growth significantly and positively almost in all models. The result approves that bank based financial development contribute to economic growth and augment growth level in the sample countries. The findings conclude that bank based financial development is important in boosting economic growth and suggests sampled countries of this study government’s channels and regulatory authority on further improvement on banking system in order to achieve higher economic growth.