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Unveiling the effect of transport infrastructure and technological innovation on economic growth, energy consumption and CO2 emissions

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  • Acheampong, Alex O.
  • Dzator, Janet
  • Dzator, Michael
  • Salim, Ruhul

Abstract

This study investigates the impact of transport infrastructure and technological innovation on economic growth (GDP), energy consumption (EC) and carbon emissions (CO2e) in the European Union (EU) using the dynamic system-generalised method of moment and data from 1995 to 2019. The results indicate that EC unidirectionally increases GDP, while GDP and EC reduce and increase CO2e, respectively. The results also demonstrate that innovation directly increases GDP and EC; however, freight transport infrastructure increases GDP and CO2e while reducing EC. The nonlinear analysis reveals that innovation has a U-shaped relationship with GDP and an inverted U-shaped relationship with EC. Furthermore, our results demonstrate that freight and rail infrastructure have an inverted U-shaped relationship with CO2e and no nonlinear relationship with GDP. Again, the rail infrastructure has a U-shaped relationship with EC. The conditional effect analysis reveals that freight and rail infrastructure interact with innovation to raise GDP. The findings indicate that freight transport infrastructure interacts with innovation to reduce EC and CO2e. Finally, rail and freight infrastructure interact with trade and foreign direct investment to influence GDP, EC and CO2e. Subsequently, EU countries must emphasise and enhance technological innovation to achieve energy efficiency.

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  • Acheampong, Alex O. & Dzator, Janet & Dzator, Michael & Salim, Ruhul, 2022. "Unveiling the effect of transport infrastructure and technological innovation on economic growth, energy consumption and CO2 emissions," Technological Forecasting and Social Change, Elsevier, vol. 182(C).
    • Handle: RePEc:eee:tefoso:v:182:y:2022:i:c:s0040162522003675
    DOI: 10.1016/j.techfore.2022.121843
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    More about this item

    Keywords

    CO2 emissions; EU; Energy consumption; Economic growth; Sustainable transport; Innovation;
    All these keywords.

    JEL classification:

    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

    Statistics

    Access and download statistics

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