Research on influencing factors of renewable energy, energy efficiency, on technological innovation. Does trade, investment and human capital development matter?

Wen, Jun; Okolo, Chukwuemeka Valentine; Ugwuoke, Ifeanyi Celestine; Kolani, Kibir

doi:10.1016/j.enpol.2021.112718

Cited by 106 publications

(34 citation statements)

References 76 publications

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“…They include the human development index (UNDP 2020 ) to proxy human development, promoting technological innovation by engrossing knowledge and transforming it into productivity (Wen et al 2022 ). Population rate, increase in population means more concepts and more discoverers, which can stimulate technological change (Kremer 1993 ; Wen et al 2022 ), domestic credit to private sector % of GDP measures financial development as indicated by studies (Chen et al 2021a ; Ibrahim and Alagidede 2018 ; Puatwoe and Piabuo 2017 ; Taddese Bekele and Abebaw Degu 2021 ) and have found a significant influence of financial development on economic growth in African countries. Economic growth is sourced from the “World Development Indicator” (World Bank 2020a ) and captured by the per capita GDP.…”

Section: Methodsmentioning

confidence: 99%

“…First, the input factors of innovation, such as human development, research intensity (R&D), housing price, FDI, and financial services development, are concluded to play a significant role in innovation accomplishment (Brown et al 2017 ; Perri and Peruffo 2016 ; Rong et al 2016 ; Roper and Hewitt-Dundas 2015 ). Second, further studies (Lehmann and Seitz 2017 ; Wang et al 2019 ; Wen et al 2018 , 2022 ) engrossed in the country’s internal atmosphere, such as “socio-cultural and political factors” promoting technical innovation. Additionally, it is well known that achieving technological progress is somewhat multifaceted.…”

Section: Introductionmentioning

confidence: 99%

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Economics of natural disasters and technological innovations in Africa: an empirical evidence

Okolo

Wen

2022

Environ Sci Pollut Res

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This study provides an empirical analysis of the impact of the disaster on technological innovation by employing the instrumental variable (2SLS) method and instrumental variable fixed-effect method in a panel of 45 African economies from 1990 to 2019. The empirical results confirm disaster’s negative and significant impact on innovation. A 1% increase in a disaster will lead to about − 13.750% decrease in scientific journals, − 3.302% decrease in R&D, and − 3.644% decrease in the TFP, respectively. These findings are supported by panel quantile regression. The study identifies four possible channels through which disaster lowers innovation in African economies: (i) reducing trade, (ii) total investment opportunities, and (iii) human capital. Various robustness tests support our findings. Finally, the study bolsters historical capital models for the adoption of cutting-edge technology in the building, provides critical policy recommendations on environmental laws, and advocates for disaster-response policies; decentralization of the energy industry away from disaster-affected areas for greater private sector participation; financial incentives for start-ups to facilitate trade and investment; creating a culture of prevention, preparation, and resilience at all levels via knowledge and innovation; and reconstruction as a method of establishing disaster-resistant structures and habitat to offer a safer living environment.

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Section: Methodsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Economics of natural disasters and technological innovations in Africa: an empirical evidence

Okolo

Wen

2022

Environ Sci Pollut Res

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“…For instance, Uddin et al (2022) explores the role of financial development in technological innovation-energy consumption nexus using the threshold regression model applied to 23 European union (EU) countries, and their results shows that the effects of stock market development, banking sector development, and overall financial development on energy demand in the 23 European countries depend on the levels of technological innovation. Wen et al (2022) study investigate energy efficiency and renewable energy on technological innovation using panel data from 1995 to 2017. Their results reveal that renewable energy and energy efficiency supports technological innovation performance both at disaggregate and aggregate levels.…”

Section: Technological Innovation and Energy Consumption Nexusmentioning

confidence: 99%

The Impact of Technological Innovation on Energy Consumption in OECD Economies: the role of Outward Foreign Direct Investment and International Trade Openness

Osabuohien-Irabor

Drapkin

2022

IJEEP

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Over the last few years, empirical evidence has revealed that technological innovation plays a significant impact in reducing energy consumption and mitigation of carbon emission. But to achieve technological progress toward energy consumption sustainability, depend on several other factors. To this end, this study examines the role of outward foreign direct investment and international trade openness in innovation-energy nexus for 24 OECD countries for the period 1996-2015. To address econometric issues such as cross-sectional dependence, endogeneity, heterogeneity in the panel estimation process, this study employs the Cross-Sectionally Augmented autoregressive Distributed Lags (CS-ARDL), Augmented Mean Group estimator (AMG), and the System Generalized Methods of Moments (SYS-GMM) techniques. Finding reveals that the moderating effects of outward FDI and trade openness in the indirect relationship between technological innovation and energy demand exhibits an inverted U-shape curve. Specifically, this study finds that the impact of technological innovation on energy consumption via reverse technology spillover effect from outward FDI reinforces OECD countries toward energy-saving environmental sustainability both in the short-run and long-run. Furthermore, the joint impact of technological innovation and trade openness on energy demand is negative and statistically significant in the short and long run. This strengthens the efficiency of technologically innovative capabilities of OECD countries to effectively reduce energy consumption. These results are robust to different specifications and consistent across the various estimators, with sets of policy implication discussed.

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“…Further, with the economic development and the support of climate-related development finance for the development of many sectors, the scientific and technological level of developing countries has been further improved. For renewable energy, its development needs to be supported by capital (Wen et al, 2022) and technology. In this situation, renewable energy in recipient countries is bound to develop rapidly.…”

Section: Analysis On the Relationship Between Climate Assistance And Energy Structure Changementioning

confidence: 99%

Climate-Related Development Finance, Energy Structure Transformation and Carbon Emissions Reduction: An Analysis From the Perspective of Developing Countries

Shi

et al. 2022

Front. Environ. Sci.

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With the frequent occurrence of extreme weather in cities, economic, ecological and social activities have been greatly impacted. The adverse effects of global extreme climate and effective governance have attracted more and more attention of scholars. Considering the differences between developed and developing countries in climate response capacity, a key issue is how to encourage developed countries to provide adequate assistance to developing countries and enhance their enthusiasm to participate in addressing climate change challenges. Given this background, we evaluated the carbon emission reduction effects of developing countries before and after a “quasi-natural experiment” which involved obtaining the assistance of climate-related funding from developed countries. Specifically, we analyzed the assistance behavior for recipient countries and found that climate assistance can effectively reduce the carbon emissions level of recipient countries, and this result has a better impact on non-island types and countries with higher levels of economic development. Furthermore, the achievement of this carbon emissions reduction target stems from the fact that climate assistance has promoted the optimization of the energy structure of recipient countries and promoted the substitution of renewable energy for coal consumption. In addition, climate-related development finance plays a significant role in promoting the scientific and technological level of recipient countries, especially the development impact of the adaptive climate-related development finance. Therefore, this paper suggests that the direction of climate assistance should focus more on island countries and countries with low economic development level, and pay more attention to the “coal withdrawal” of recipient countries and climate adaptation field.

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Research on influencing factors of renewable energy, energy efficiency, on technological innovation. Does trade, investment and human capital development matter?

Cited by 106 publications

References 76 publications

Economics of natural disasters and technological innovations in Africa: an empirical evidence

Economics of natural disasters and technological innovations in Africa: an empirical evidence

The Impact of Technological Innovation on Energy Consumption in OECD Economies: the role of Outward Foreign Direct Investment and International Trade Openness

Climate-Related Development Finance, Energy Structure Transformation and Carbon Emissions Reduction: An Analysis From the Perspective of Developing Countries

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