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Green Technology Innovation, Globalization, and CO 2 Emissions: Recent Insights from the OBOR Economies

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  • Ahmer Bilal

    (School of Economics, Zhongnan University of Economics and Law, Wuhan 430073, China)

  • Xiaoping Li

    (School of Economics, Zhongnan University of Economics and Law, Wuhan 430073, China)

  • Nanli Zhu

    (Business School, Yunnan University of Finance and Economics, Kunming 650221, China)

  • Ridhima Sharma

    (Vivekananda Institute of Professional Studies, IP University, New Delhi 110034, India)

  • Atif Jahanger

    (School of Economics, Hainan University, Haikou 570228, China)

Abstract

This study explores the connection between technological innovation, globalization, and CO 2 emissions by controlling the critical influence of information and communication technology (ICT) and economic growth in a panel of One Belt One Road (OBOR) countries from 1991 to 2019, utilizing advanced and robust econometric strategies (second generation). In addition, this study also uses an interaction variable (TI*GLOB) to check the interaction role of technological innovation on the linkage between globalization and CO 2 emission, besides their direct effect on CO 2 emissions in OBOR countries. The outcomes revealed that the linkage between technological innovation and CO 2 emissions is negative, and statically significant in all the regions (e.g., OBOR, South Asia, East and Southeast Asia, MENA, Europe, and Central Asia). Moreover, the results of globalization show a significant positive relationship with CO 2 emissions in OBOR and South Asia region. Nevertheless, it significantly negatively affects environmental pollution in East and Southeast Asia, MENA, Europe, and Central Asia. The results of TI*GLOB indicate that, for the OBOR sample, East and Southeast Asia, and Central Asia, the moderation effects of technological innovation with globalization are significantly negatively associated with CO 2 emissions. However, in MENA and Europe, the interaction effect is a significant positive. The coefficient of ICT for OBOR, Europe, and Central Asia are positive and statistically significant; however, for East, Southeast Asia, and MENA regions, these results are statistically negative. Furthermore, the findings are robust, according to various robustness checks that we have performed for checking the reliability of our main findings. The study establishes numerous polities and makes various recommendations, in light of relevant conclusions.

Suggested Citation

  • Ahmer Bilal & Xiaoping Li & Nanli Zhu & Ridhima Sharma & Atif Jahanger, 2021. "Green Technology Innovation, Globalization, and CO 2 Emissions: Recent Insights from the OBOR Economies," Sustainability, MDPI, vol. 14(1), pages 1-17, December.
    • Handle: RePEc:gam:jsusta:v:14:y:2021:i:1:p:236-:d:711741
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