Green Technological Progress Implications on Long-Run Sustainable Economic Growth

Abstract

The main objective of this study is to model and examine the green technological progress’s positive and negative externalities spillover effects on the sustainable economic growth of 15 economies from Asia, the Pacific, and Latin America. The study calculated labour and capital contributions to green total factor productivity growth via the inclusion of CO 2 emissions as undesirable output or private unpriced input and energy consumption that proxies for unmeasured pollutant emissions. The results, in most cases, confirm that a high level of air pollutant emissions generated by these countries’ economic development affected the growth rates of TFP growth as an indicator of green technological progress. The significant contribution of this study is to integrate innovation and climate change in the form of green productivity (green technological progress). The role of these externalities on long-term sustainable economic growth has been ignored by several past studies undertaken in these areas.

A double machine learning model for measuring the impact of the Made in China 2025 strategy on green economic growth

“…The Green Economy Report, which was published by the United Nations Environment Program in 2011, defined green economy development as facilitating more efficient use of natural resources and sustainable growth than traditional economic models, with a more active role in promoting combined economic development and environmental protection. The Organization for Economic Co-operation and Development defined green economic growth as promoting economic growth while ensuring that natural assets continue to provide environmental resources and services; a concept that is shared by a large number of institutions and scholars 7 – 9 . A considerable amount of research has assessed green economic growth, primarily using three approaches.…”