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The role of technological innovation and diffusion, energy consumption and financial development in affecting ecological footprint in BRICS: an empirical analysis

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Abstract

Economic activities, technological innovation and diffusion, energy consumption and financial development have been significant in BRICS countries over the last three decades. Corresponding to it, BRICS have been facing substantial environmental deterioration. The growth of such factors needs a comprehensive analysis. Hence, this paper examines the impact of technological innovation and diffusion, renewable and non-renewable energy consumption and financial development on ecological footprint under the Kuznets framework in BRICS countries over the time from 1990 to 2018. To confirm the long- and short-run relationship, we apply the second-generation and heterogeneity panel techniques. Where, to measure the impact of technological innovation and diffusion, energy consumption and financial development and other control variable on ecological footprint we use Westerlund Co-integration and pooled mean group (PMG) model for this interest. The results reveal that technological diffusion and non-renewable energy consumption deteriorate environmental quality in the long run. In contrast, renewable energy and technological innovation improve environmental sustainability/quality significantly. Further, results also confirm the existence of the EKC hypothesis. The study suggests that the government should encourage technological innovation and renewable energy consumption to improve environmental quality and achieve the sustainable development goal (SDG).

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Notes

  1. https://www.worldometers.info/co2-emissions/co2-emissions-per-capita/

  2. Kuznets’s inverted-U hypothesis documents the association between economic development and income inequality.

  3. Agents such as people, businesses, regulators, policymakers, nongovernmental organizations and other market players.

  4. The data of important variables like ecological footprint, ICT and technological innovation are available from 1990 to 2018, therefore we have considered this sample period in our analysis.

  5. https://unfccc.int/news/ict-sector-helping-to -tackle-climate-change.

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Authors and Affiliations

  1. Centre for Development Studies, Ulloor, Prasanth Nagar, Thiruvananthapuram, 695011, Kerala, India

    Sanjay Kumar Rout

  2. Department of Humanities and Social Sciences, Jaypee Institute of Information Technology, Uttar Pradesh, A-10 sector-62, Noida, 201309, India

    Mohini Gupta

  3. Department of Humanities and Social Sciences, National Institute of Technology (NIT), Rourkela, 769008, Odisha, India

    Malayaranjan Sahoo

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  1. Sanjay Kumar Rout
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  2. Mohini Gupta
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  3. Malayaranjan Sahoo
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Contributions

Sanjay Kumar Rout: introduction, conceptualization, investigation, supervision writing, original draft preparation; Mohini Gupta: literature review, methodology, Malayaranjan Sahoo: conceptualization, data curation, software, writing, and policy implications.

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Correspondence to Malayaranjan Sahoo.

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Table 10 Summary of literature
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Table 11 Descriptive statistics
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Rout, S.K., Gupta, M. & Sahoo, M. The role of technological innovation and diffusion, energy consumption and financial development in affecting ecological footprint in BRICS: an empirical analysis. Environ Sci Pollut Res 29, 25318–25335 (2022). https://doi.org/10.1007/s11356-021-17734-6

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