Cogitating the role of technological innovation and institutional quality on environmental degradation in G-7 countries
by Ahsan Anwar; Summaira Malik
International Journal of Green Economics (IJGE), Vol. 15, No. 3, 2021

Abstract: The present study examined the association between economic growth, technological innovation, institutional quality, renewable energy consumption, population, and CO₂ emission for G-7 economies for the period 1996-2018. Different estimation techniques were used to check the robustness of empirical outcomes. Breitung and Im, Pesaran and Shin unit root tests were applied to confirm the stationarity of the variables. Co-integration among the variables was confirmed by Kao-residuals, Johansen-Fisher, and Pedroni panel co-integration tests. The long-run association was checked by applying Fully Modified Ordinary Least Square and Dynamic Ordinary Least Square methods. The results indicated that economic growth and population increase environmental pollution whereas technological innovation, institutional quality, and renewable energy consumption impede CO₂ emissions. The findings suggest that the governments of G-7 countries should promote and subsidise green energy, environment-friendly equipment, and machinery not only for small but also for large-scale industries to decrease the reliance on fossil fuel-based energy. Results also proposed to increase institutional quality to further mitigate environmental pollution.

Online publication date: Tue, 15-Feb-2022

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