Investigating The Effects of Globalisation, Technology Innovation and Renewable Energy Consumption on Environmental Pollution
Investigating The Effects of Globalisation, Technology Innovation and Renewable Energy Consumption on Environmental Pollution

Summary/Abstract: Given the enormity of the current and historical contributions of developed countries to global environmental pollution and its undesirable effects, this study investigated the nexus among globalisation, technology innovation and renewable energy consumption on environmental pollution in 23 developed countries from 1990 to 2022. The study objectives were achieved using the time averaged common correlated effect estimator and the Dumitrescu-Hurlin panel causality test. Findings revealed existence of long-run relationship among the variables. Particularly, globalisation and renewable energy consumption had negative long-run effects on environmental pollution, regardless of the levels of globalisation and renewable energy consumption of developed countries. Conversely, technology innovation had positive long-run effect on environmental pollution regardless of the level of technology innovation of the developed countries. Findings also revealed bidirectional causality between globalisation and environmental pollution; technology innovation and environmental pollution; and renewable energy consumption and environmental pollution. Bidirectional causality was also discovered among explanatory variables except globalisation and renewable energy consumption which had unidirectional causality. Given these findings, the study recommends prioritisation and simultaneous implementation of policies which deters economic and behavioural responses which erodes the pollution- reduction gains of green technology innovations and policies which promotes economic globalisation and consumption of renewable energy alternatives.

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