Search

One possible way to achieve sustainable economic growth is by limiting carbon dioxide (CO2) emissions. The developing countries, in particular, which significantly contribute to global carbon dioxide emissions, need a paradigm shift towards sustainable production and consumption to achieve economic growth while ensuring environmental sustainability. This study thus analyzes the role of green technology innovation, green finance, renewable energy use, institutional quality, and agricultural value added in attaining environmental sustainability by abating CO2 emissions for 25 select developing countries from 1998 to 2019. This study uses the Driscoll‐Kraay and two‐step SGMM estimators to assess the impact of independent variables on the response variable, acknowledging the endogeneity problem in the model. The empirical findings reveal that green finance, green technology innovation, and institutional quality induce CO2 emissions, whereas agricultural value‐added and renewable energy use are observed to have detrimental effects on CO2 emissions. Moreover, the moderation effect of green technology innovation and institutional quality with green finance is observed to have a weak and insignificant impact on CO2 emissions. The study thus recommends that developing countries enforce policies to promote investments and innovation in the clean energy sector to attain sustainable development goals by mitigating carbon emissions. [ABSTRACT FROM AUTHOR]

This paper analyzes the direct and interactive effect of digital payments through institutional quality, consumption expenditure, and bank credit on economic growth for 25-member countries of the Committee on Payments and Market Infrastructures (CPMI) for 2012–2020. Using the Fixed Effect with Driscoll-Kraay Panel Corrected Estimators, it finds that a rise in digital payments positively impacts economic growth. The interaction effect of digital payments with other variables does not promote economic growth. To address differences among the selected countries and to have a robust analysis, the paper classified the selected countries into quantiles based on the GDP per capita level using the Bootstrapped Panel-Quantile Regression (BPQR) method. The BPQR confirms the positive relationship among digital payments, institutional quality, and consumption expenditure with economic growth, whereas credit impacts it negatively. Control variables, such as inflation, exchange rate, health, and unemployment, behave as per economic theories related to economic growth. [ABSTRACT FROM AUTHOR]

The growing demand for digitalization in different economic sectors has garnered considerable attention from researchers to explore the effects of Information and Communication Technology (ICT) on economic growth. In this study, we explore the direct and indirect effects of ICT on economic growth, through its interaction with institutional quality, financial development, research and development (R&D) expenditures, and foreign direct investment (FDI), for 13 emerging economies from 2000 to 2020. We find that ICT use has a significantly positive effect on economic growth. It is found that the interaction effects of ICT with financial development and R&D expenditures are favorable to economic growth, whereas ICT does not act synergistically with institutional quality and FDI. This implies that the emerging economies should increase R&D expenditures on ICT services and increase digitalization of the financial sector, along with advancing their ICT infrastructure, strengthening the institutional quality, and encouraging more FDI inflows to maintain their growth momentum. Abbreviations: ICT: nformation and Communication Technology; IMD: International Institute for Management Development; SDGs: Sustainable Development Goals; OECD: Organization for Economic Cooperation and Development; SAARC: South Asian Association for Regional Cooperation; SSA: Sub-Saharan Africa; MNCs: Multinational Companies; MENA: Middle East and North Africa; UNESCO: United Nations Educational, Scientific and Cultural Organization; ITU: International Telecommunication Union; IIEP: International Institute for Educational Planning; MSCI: Morgan Stanley Capital International; WDI: World Development Indicator; R&D: Research and Development; FD: Financial development; FDI: Foreign Direct Investment; IUIT: Individuals Using Internet; MBCS: Mobile Cellular Subscriptions; TO: Trade Openness; IQ: Institutional Quality [ABSTRACT FROM AUTHOR]