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The role of innovation in sustainable growth: A dynamic panel study on micro and macro levels 1990–2019

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  • Skare, Marinko
  • PORADA-ROCHON, Małgorzata

Abstract

Innovation has become a critical factor in achieving sustainable growth through energy efficiency improvement and energy intensity efficacy at both the micro and macro levels. This study aims to explain the role of innovation in sustainability using panel data analysis at the micro (2009–2018) and macro levels (1990–2019). This study uses pooled OLS, fixed effect, common correlated effects pooled, first difference OLS, mean group, augmented mean group, random coefficient, common correlated effect estimator, and group-mean fully modified modeling. Technological progress at the micro and macro levels promotes sustainability. Innovation is only a necessary prerequisite for long-term sustainability but is not sufficient. The study shows how technology-related innovations at the micro (company) level are more important for “green” growth than non-technology innovations. A firm‘s ownership is also an essential driver of sustainability. The results should help owners and managers build sustainable business innovation models and policy-makers in designing sustainable growth models and policies.

Suggested Citation

  • Skare, Marinko & PORADA-ROCHON, Małgorzata, 2022. "The role of innovation in sustainable growth: A dynamic panel study on micro and macro levels 1990–2019," Technological Forecasting and Social Change, Elsevier, vol. 175(C).
    • Handle: RePEc:eee:tefoso:v:175:y:2022:i:c:s004016252100768x
    DOI: 10.1016/j.techfore.2021.121337
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    1. Yang, Wei & Wang, Xueke, 2024. "The impact of patent protection on technological innovation: A global value chain division of labor perspective," Technological Forecasting and Social Change, Elsevier, vol. 203(C).
    2. Ullah, Farid & Jiang, Ping & Elamer, Ahmed A. & Owusu, Andrews, 2022. "Environmental performance and corporate innovation in China: The moderating impact of firm ownership," Technological Forecasting and Social Change, Elsevier, vol. 184(C).
    3. Aidin Salamzadeh & Morteza Hadizadeh & Niloofar Rastgoo & Md. Mizanur Rahman & Soodabeh Radfard, 2022. "Sustainability-Oriented Innovation Foresight in International New Technology Based Firms," Sustainability, MDPI, vol. 14(20), pages 1-21, October.
    4. Tekic, Zeljko & Tekic, Anja, 2024. "Complex patterns of ICTs' effect on sustainable development at the national level: The triple bottom line perspective," Technological Forecasting and Social Change, Elsevier, vol. 198(C).

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