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Examining the role of environmental tax, green innovation, and digital financial inclusion for energy transition: Evidence from OECD countries

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  • Le, Thai Hong
  • Mai, Minh Lam
  • Nguyen, Mai Quynh Thi
  • Nguyen, Anh Phuong
  • Do, Chi Phuong

Abstract

This research aims to examine the influence of environmental tax, green innovation, and digital financial inclusion on energy transition in OECD countries during the period from 1994 to 2020. Results from the panel quantile regression analysis reveal that environmental tax positively influences the energy transition at the lower and middle quantiles whilst financial inclusion is positively associated with energy transition across all quantiles. Our results also show a positive relationship between green innovation and energy transition, though the lack of significant coefficients across all quantiles suggests a disparity between green innovation and immediate energy transition outcomes. Our findings highlight the need for regulatory agencies to design a flexible and fair environmental tax system, particularly in applying taxes according to the pollution intensity of different energy sources.

Suggested Citation

  • Le, Thai Hong & Mai, Minh Lam & Nguyen, Mai Quynh Thi & Nguyen, Anh Phuong & Do, Chi Phuong, 2025. "Examining the role of environmental tax, green innovation, and digital financial inclusion for energy transition: Evidence from OECD countries," Research in Economics, Elsevier, vol. 79(1).
    • Handle: RePEc:eee:reecon:v:79:y:2025:i:1:s1090944325000110
    DOI: 10.1016/j.rie.2025.101034
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    Keywords

    Energy transition; Environmental tax; Green innovation; Financial inclusion; Panel quantile regression; OECD countries;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • P43 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Finance; Public Finance
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

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