Determining the green technology innovation accelator and natural resources towards decarbonization for the EU countries: evidence from MMQR

Abstract

Gearing up for green technology innovation (GTI) and natural resources has become even more important in the transition to a zero-emission life, a green economy, and sustainable development goals. This attempt has become a situation that needs to be overpowered much sooner by the European countries, which have encountered challenges in many ways, especially regarding natural resources, energy supply, and the climate crisis. In this vein, the current study follows the novel, robust Method of Moment Quantile-Regression (MM-QR), which successfully yields heterogeneous information structure across quantiles, to examine the determinants of GTI for 15 EU countries over the period of 2003–2018. MM-QR estimation results indicate that the determinants of green technology innovation are heterogeneous across the EU countries. While green growth (GG) has an adverse impact on GTI in middle- and high-GTI countries, the effect of ecological footprint on GTI is positive for countries in the highest-GTI countries. The positive effects of financial development (FD) on GTI are revealed for all countries. Remarkably, environmental taxes have an adverse and positive influence on GTI in the lowest and highest quantile countries, respectively. Finally, renewable energy and greenfield FDI have no effect on GTI. Governments can promote GTI by providing financial resources, in the most immaculate way, to firms that engage in green technology projects, as well as by encouraging these through environmental taxes.

Investigating factors influencing oil volatility: a GARCH-MIDAS model analysis

“…Factors such as shifts in markets and advancements in technology further impact fluctuations in oil prices. The trajectory of the global energy system has been steadily shifting from a reliance on fossil fuels towards embracing low-carbon technologies (Cutcu et al, 2024). Fattouh et al (2013) analyzed the process of the influence of speculation on the oil price and finally argued that the common fluctuation of spot and futures prices reflected the common economic fundamentals, rather than the financialization of the oil futures market.…”