THE NEW AGE FOR THE DYNAMICS OF LOW-CARBON TRANSITIONS IN MENA COUNTRIES: THE NOVEL EVIDENCE OF GREEN TECHNOLOGY INNOVATION, RENEWABLE ENERGY, AND GREEN GROWTH

Öz

Expectations are that advances in green technology, renewable energy and green growth will usher a new era in the dynamics of transition to low carbon. The aim of current analysis is to put to the proof the effect of green technology innovation, renewable energy and green growth on CO2 emissions of 13 MENA countries, based on the period 2010-2018. The panel data results of estimated Driscoll-Kraay robust standard estimator show that the effects of green technology and renewable energy on CO2 emissions are negative and statistically significant. Also, green growth has a positive and significant effect on emissions. The results of the paper are important in terms of addressing the effects of the relevant variables for the first time in the MENA countries.

Anahtar Kelimeler

• Green Technology
• Renewable energy
• Green Growth
• Panel Regression

Kaynakça

1. Abid, N., Ceci, F. & Ikram, M. (2022). Green growth and sustainable development: dynamic linkage between technological innovation, ISO 14001, and environmental challenges. Environmental Science and Pollution Research, 29(17), 25428-25447.
2. Acemoglu, D., Akcigit, U., Hanley, D. & Kerr, W. (2016). Transition to clean technology. J. political Econ. 124(1), 52-104.
3. Adebayo, T. S. & Kirikkaleli, D. (2021). Impact of renewable energy consumption, globalization, and technological innovation on environmental degradation in Japan: Application of wavelet tools. Environ. Dev. Sustain. 23(11), 16057-16082.
4. Afshan, S., Yaqoob, T., Meo, M. S. & Hamid, B. (2022). Can green finance, green technologies, and environmental policy stringency leverage sustainability in China: Evidence from Quantile-ARDL estimation. https://doi.org/10.21203/rs.3.rs-2228067/v1
5. Ali, N., Phoungthong, K., Techato, K., Ali, W., Abbas, S., Dhanraj, J. A. & Khan, A. (2022). FDI, Green Innovation and Environmental Quality Nexus: New Insights from BRICS Economies. Sustainability, 14(4), 2181.
6. Awijen, H., Belaïd, F., Zaied, Y. B., Hussain, N. & Lahouel, B. B. (2022). Renewable energy deployment in the MENA region: Does innovation matter? Technological Forecasting and Social Change, 179, 121633.
7. Belaïd, F., Elsayed, A. H. & Omri, A. (2021). Key drivers of renewable energy deployment in the MENA Region: Empirical evidence using panel quantile regression. Structural Change and Economic Dynamics, 57, 225-238.
8. Bilal, A., Li, X., Zhu, N., Sharma, R. & Jahanger, A. (2021). Green Technology Innovation, Globalization, and CO2 Emissions: Recent Insights from the OBOR Economies. Sustainability, 14(1), 236.

9. Cao, J. (2022). The dynamic coupling nexus among inclusive green growth: a case study in Anhui province, China. Environmental Science and Pollution Research, 29(32), 49194-49213.
10. Chien, F., Ajaz, T., Andlib, Z., Chau, K. Y., Ahmad, P. & Sharif, A. (2021a). The role of technology innovation, renewable energy and globalization in reducing environmental degradation in Pakistan: a step towards sustainable environment. Renewable Energy, 177, 308-317.
11. Chien, F., Ananzeh, M., Mirza, F., Bakar, A., Vu, H. M. & Ngo, T. Q. (2021b). The effects of green growth, environmental-related tax, and eco-innovation towards carbon neutrality target in the US economy. Journal of Environmental Management, 299, 113633.
12. Çınar, M. (2021). Panel veri ekonometrisi: Stata ve Eviews uygulamalı. Ekin Yayınevi.
13. DNV, (2022). https://www.dnv.com/about/index.html
14. Driscoll, J. C. & Kraay, A. C. (1998). Consistent covariance matrix estimation with spatially dependent panel data. Review of Economics and Statistics, 80(4), 549-560.
15. Du, K., Li, P. & Yan, Z. (2019). Do green technology innovations contribute to carbon dioxide emission reduction? Empirical evidence from patent data. Technological Forecasting and Social Change, 146, 297-303.
16. Erdem, H. F., Demirel, S. K. & Erkan, E. (2019). Genç işsizliğin intihar oranları üzerindeki olası etkisi: panel veri analizi ile bölgesel karşılaştırma. Anadolu İktisat ve İşletme Dergisi, 3(2), 76-92.
17. Gorus, M. S. & Aydin, M. (2019). The relationship between energy consumption, economic growth, and CO2 emission in MENA countries: causality analysis in the frequency domain. Energy, 168, 815-822.
18. Gujarati, D. N. & Porter, D. (2012). Basic Econometrics. (Çev. Ü. Şenesen, & GG Şenesen), Literatür Yayıncılık, İstanbul.
19. Guo, J., Zhou, Y., Ali, S., Shahzad, U. & Cui, L. (2021). Exploring the role of green innovation and investment in energy for environmental quality: An empirical appraisal from provincial data of China. Journal of Environmental Management, 292, 112779.
20. Hao, L. N., Umar, M., Khan, Z. & Ali, W. (2021). Green growth and low carbon emission in G7 countries: how critical the network of environmental taxes, renewable energy and human capital is?. Science of The Total Environment, 752, 141853.
21. IEA (2023). Energy Technology Perspectives 2023, https://www.iea.org/reports/energy-technology-perspectives-2023
22. Irfan, M., Razzaq, A., Sharif, A. & Yang, X. (2022). Influence mechanism between green finance and green innovation: Exploring regional policy intervention effects in China. Technological Forecasting and Social Change, 182, 121882.
23. Issa, H. & Jabbouri, R. (2022). Green Innovation in the MENA Healthcare Industry: A Knowledge-Based View. International Journal of Technology and Human Interaction (IJTHI), 18(1), 1-26.
24. Jalil, S. A. (2014). Carbon dioxide emission in the Middle East and North African (MENA) region: a dynamic panel data study. Journal of Emerging Economies and Islamic Research, 2(3), 5-14.
25. Jian, X. & Afshan, S. (2022). Dynamic effect of green financing and green technology innovation on carbon neutrality in G10 countries: fresh insights from CS-ARDL approach. Economic Research-Ekonomska Istraživanja, 1-18.
26. Kahia, M., Aïssa, M. S. B. & Lanouar, C. (2017). Renewable and non-renewable energy use-economic growth nexus: The case of MENA Net Oil Importing Countries. Renewable and Sustainable Energy Reviews, 71, 127-140.
27. Kahia, M., Ben Jebli, M., & Belloumi, M. (2019). Analysis of the impact of renewable energy consumption and economic growth on carbon dioxide emissions in 12 MENA countries. Clean Technologies and Environmental Policy, 21(4), 871-885.
28. Karış, Ç., & Tandoğan, D. (2019). The Effect of Education on Democracy: Panel Data Analysis of High Income Countries. Universal Journal of Educational Research, 7(11), 2425-2431.
29. Kaynak, S., Ekinci, A. & Kaya, H. F. (2021). The effect of COVID-19 pandemic on residential real estate prices: Turkish case. Quantitative Finance and Economics, 5(4), 623-639.
30. Kirikkaleli, D. & Adebayo, T. S. (2023). Political risk and environmental quality in Brazil: Role of green finance and green innovation. International Journal of Finance & Economics, 5(9).
31. Köseoğlu, A., Yücel, A. G. & Ulucak, R., (2022). Green innovation and ecological footprint relationship for a sustainable development: Evidence from top 20 green innovator countries. Sustainable Development, 30(5), 976-988.
32. Oguzturk, B. S. & Özbay, F. (2022). The Relationship between Green Innovation, CO2 Emissions, Gross Domestic Product, and Renewable Energy Supply: A Panel Data Analysis for BRICS Countries and Turkey. Istanbul Business Research, 51(1), 237-256.
33. Pesaran, M. H. (2004). General diagnostic tests for cross section dependence in panels. University of Cambridge, Faculty of Economics, Cambridge Working Papers in Economics No. 0435. Cent. Econ. Stud. Ifo Inst. Econ. Res. CESifo, 41.
34. Razi, F. & Dincer, I. (2022). Renewable energy development and hydrogen economy in MENA region: A review. Renewable and Sustainable Energy Reviews, 168, 112763.
35. Razzaq, A., Wang, Y., Chupradit, S., Suksatan, W. & Shahzad, F. (2021). Asymmetric inter-linkages between green technology innovation and consumption-based carbon emissions in BRICS countries using quantile-on-quantile framework. Technology in Society, 66, 101656.
36. Razzaq, Asif & Sharif, Arshian & Afshan, Sahar & Li, Claire J., (2023). Do climate technologies and recycling asymmetrically mitigate consumption-based carbon emissions in the United States? New insights from Quantile ARDL. Technological Forecasting and Social Change, Elsevier, 186.
37. Saleem, H., Khan, M. B. & Mahdavian, S. M. (2022). The role of green growth, green financing, and eco-friendly technology in achieving environmental quality: Evidence from selected asian economies. Environ. Sci. Pollut. Res. 29, 57720–57739.
38. Santra, S. (2017). The effect of technological innovation on production-based energy and CO2 emission productivity: evidence from BRICS countries. African Journal of Science, Technology, Innovation and Development, 9(5), 503-512.
39. Shan, S., Genç, S. Y., Kamran, H. W. & Dinca, G. (2021). Role of green technology innovation and renewable energy in carbon neutrality: A sustainable investigation from Turkey. Journal of Environmental Management, 294, 113004.
40. Shao, X., Zhong, Y., Liu, W. & Li, R. Y. M. (2021). Modeling the effect of green technology innovation and renewable energy on carbon neutrality in N-11 countries? Evidence from advance panel estimations. Journal of Environmental Management, 296, 113189.
41. Sharif, A., Kocak, S., Khan, H. H. A., Uzuner, G. & Tiwari, S. (2023). Demystifying the links between green technology innovation, economic growth, and environmental tax in ASEAN-6 countries: The dynamic role of green energy and green investment. Gondwana Research, 115, 98-106.
42. Sharif, A., Saqib, N., Dong, K. & Khan, S. A. R. (2022). Nexus between green technology innovation, green financing, and CO2 emissions in the G7 countries: the moderating role of social globalisation. Sustainable Development.
43. Sinha, A., Shah, M. I., Sengupta, T. & Jiao, Z. (2020). Analyzing technology-emissions association in Top-10 polluted MENA countries: How to ascertain sustainable development by quantile modeling approach. Journal of Environmental Management, 267, 110602.
44. Suki, N. M., Suki, N. M., Afshan, S., Sharif, A. & Meo, M. S. (2022a). The paradigms of technological innovation and renewables as a panacea for sustainable development: A pathway of going green. Renewable Energy, 181, 1431-1439.
45. Suki, N. M., Suki, N. M., Sharif, A., Afshan, S. & Jermsittiparsert, K. (2022b). The role of technology innovation and renewable energy in reducing environmental degradation in Malaysia: A step towards sustainable environment. Renewable Energy, 182, 245-253.
46. Sun, Y., Duru, O. A., Razzaq, A. & Dinca, M. S. (2021). The asymmetric effect eco-innovation and tourism towards carbon neutrality target in Turkey. Journal of Environmental Management, 299, 113653.
47. Taghvaee, V. M., Arani, A. A. & Agheli, L. (2022). Sustainable development spillover effects between North America and MENA: Analyzing the integrated sustainability perspective. Environmental and Sustainability Indicators, 14, 100182.
48. Wang, Q. J., Wang, H. J. & Chang, C. P. (2022). Environmental performance, green finance and green innovation: What's the long-run relationships among variables?. Energy Economics, 110, 106004.
49. Wei S, JiandongWand Saleem H (2023), The impact of renewable energy transition, green growth, green trade and green innovation on environmental quality: Evidence from top 10 green future countries. Front. Environ. Sci. 10, 1076859.
50. Xia, Q. (2022). Does green technology advancement and renewable electricity standard impact on carbon emissions in China: role of green finance. Environmental Science and Pollution Research, 1-14.
51. Yamak N., Gürel F. & Koçak S (2016). Socio-economics and demographic determinants of theft crime: Panel data analysis. TİSK Akademi, 11(21), 56-69.
52. Yikun, Z., Woon Leong, L., Cong, P. T., Abu-Rumman, A., Al Shraah, A. & Hishan, S. S. (2022). Green growth, governance, and green technology innovation. How effective towards SDGs in G7 countries?. Economic Research-Ekonomska Istraživanja, 1-19.
53. Yilanci, V. & Gorus, M. S. (2020). Does economic globalization have predictive power for ecological footprint in MENA counties? A panel causality test with a Fourier function. Environmental Science And Pollution Research, 27(32), 40552-40562.
54. Yu, Y., Radulescu, M., Ifelunini, A. I., Ogwu, S. O., Onwe, J. C. & Jahanger, A. (2022). Achieving carbon neutrality pledge through clean energy transition: Linking the role of green innovation and environmental policy in E7 countries. Energies, 15(17), 6456.
55. Yunzhao, L. (2022). Modelling the role of eco innovation, renewable energy, and environmental taxes in carbon emissions reduction in E− 7 economies: Evidence from advance panel estimations. Renewable Energy, 190, 309-318.
56. Zhang, K. Q., Chen, H. H., Tang, L. Z. & Qiao, S. (2022). Green finance, innovation and the energy-environment-climate nexus. Frontiers in Environmental Science, 602.
57. Zhang, S., Luo, S. & Afshan, S. (2022). Role of climate technologies, financial development, and renewable energy in the facilitation of social, economic, and environmental goals. Renewable Energy, 199, 169-178.