Research Article

The Impact of Financial Innovation on Environmental Quality, Green Technological Innovation and Renewable Energy Production: Evidence from OECD Countries

Volume: 10 Number: 4 December 31, 2025
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The Impact of Financial Innovation on Environmental Quality, Green Technological Innovation and Renewable Energy Production: Evidence from OECD Countries

Abstract

This study investigates the influence of financial innovation on environmental sustainability, advancements in green technology, and the generation of renewable energy. Utilizing annual data from 18 OECD countries spanning 2009 to 2021, the analysis employs Panel-Corrected Standard Errors (PCSE), Westerlund-Edgerton LM Bootstrap Cointegration tests, and Dumitrescu-Hurlin panel causality tests. The findings reveal that financial innovation significantly enhances environmental quality. Moreover, it is observed that financial innovation stimulates green technological advancements, fostering the development of eco-friendly technologies. Additionally, financial innovation plays a pivotal role in boosting renewable energy production. These results offer valuable insights for policymakers aiming to advance environmental sustainability and promote green investments. The study highlights the potential of financial innovation to drive both environmental and economic progress by accelerating growth in green technology and renewable energy sectors

Keywords

References

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Details

Primary Language

English

Subjects

Environment and Climate Finance, Finance

Journal Section

Research Article

Publication Date

December 31, 2025

Submission Date

September 11, 2025

Acceptance Date

December 12, 2025

Published in Issue

Year 2025 Volume: 10 Number: 4

APA
Kurt Cihangir, Ç. (2025). The Impact of Financial Innovation on Environmental Quality, Green Technological Innovation and Renewable Energy Production: Evidence from OECD Countries. Ekonomi Politika Ve Finans Araştırmaları Dergisi, 10(4), 1579-1602. https://doi.org/10.30784/epfad.1782573
AMA
1.Kurt Cihangir Ç. The Impact of Financial Innovation on Environmental Quality, Green Technological Innovation and Renewable Energy Production: Evidence from OECD Countries. EPF Journal. 2025;10(4):1579-1602. doi:10.30784/epfad.1782573
Chicago
Kurt Cihangir, Çiğdem. 2025. “The Impact of Financial Innovation on Environmental Quality, Green Technological Innovation and Renewable Energy Production: Evidence from OECD Countries”. Ekonomi Politika Ve Finans Araştırmaları Dergisi 10 (4): 1579-1602. https://doi.org/10.30784/epfad.1782573.
EndNote
Kurt Cihangir Ç (December 1, 2025) The Impact of Financial Innovation on Environmental Quality, Green Technological Innovation and Renewable Energy Production: Evidence from OECD Countries. Ekonomi Politika ve Finans Araştırmaları Dergisi 10 4 1579–1602.
IEEE
[1]Ç. Kurt Cihangir, “The Impact of Financial Innovation on Environmental Quality, Green Technological Innovation and Renewable Energy Production: Evidence from OECD Countries”, EPF Journal, vol. 10, no. 4, pp. 1579–1602, Dec. 2025, doi: 10.30784/epfad.1782573.
ISNAD
Kurt Cihangir, Çiğdem. “The Impact of Financial Innovation on Environmental Quality, Green Technological Innovation and Renewable Energy Production: Evidence from OECD Countries”. Ekonomi Politika ve Finans Araştırmaları Dergisi 10/4 (December 1, 2025): 1579-1602. https://doi.org/10.30784/epfad.1782573.
JAMA
1.Kurt Cihangir Ç. The Impact of Financial Innovation on Environmental Quality, Green Technological Innovation and Renewable Energy Production: Evidence from OECD Countries. EPF Journal. 2025;10:1579–1602.
MLA
Kurt Cihangir, Çiğdem. “The Impact of Financial Innovation on Environmental Quality, Green Technological Innovation and Renewable Energy Production: Evidence from OECD Countries”. Ekonomi Politika Ve Finans Araştırmaları Dergisi, vol. 10, no. 4, Dec. 2025, pp. 1579-02, doi:10.30784/epfad.1782573.
Vancouver
1.Çiğdem Kurt Cihangir. The Impact of Financial Innovation on Environmental Quality, Green Technological Innovation and Renewable Energy Production: Evidence from OECD Countries. EPF Journal. 2025 Dec. 1;10(4):1579-602. doi:10.30784/epfad.1782573