Abstract
Today’s economically developed nations are also among the most advanced in energy production and consumption. In particular, the widespread implementation of renewable energy sources and the plethora of technological advancements supporting long-term prosperity stand out. The present research examines how carbon dioxide (CO2) emissions, technological advancements, and renewable energy sources affect economic expansion. Research and development (R&D) expenses are considered a proxy for technological progress. The analysis quantified the interplay between the factors using annual data for the G7 countries from 1996 through 2020. We examine the association between our variables using panel unit root tests, Pedroni cointegration tests, ARDL coefficient estimations, and Dumitrescu and Hurlin causality tests. The Pedroni cointegration test indicated that the variables are cointegrated. According to the ARDL method of computation, increasing levels of CO2 emissions are beneficial to long-term economic growth. However, improvements in renewable energy and technology dampen economic expansion. The economy’s expansion and increased carbon dioxide emissions have a reciprocal relationship. The Dumitrescu and Hurlin causality test shows a uni-directional chain of events from CO2 emissions to technological improvements, from economic growth to the use of renewable energy, and from consumption of renewable energy to technological advances. Based on our research results, investing in renewable energy consumption is still suggested for long-term sustainable development and environmental protection. Also, directing technological innovations to renewable energy resources and facilities to reduce costs and improve efficiency is suggested.
Similar content being viewed by others
Data availability
The datasets used and analyzed during the current study are available from the corresponding author on reasonable request.
Change history
28 March 2024
This article has been retracted. Please see the Retraction Notice for more detail: https://doi.org/10.1007/s11356-024-33124-0
Abbreviations
- ADF:
-
Augmented Dickey-Fuller
- ARDL:
-
Autoregressive distributed lag
- CO 2 :
-
Carbon dioxide emissions
- COP26:
-
UN climate change conference in Glasgow
- GDP :
-
Economic growth
- G7:
-
Germany, USA, UK, Italy, France, Japan, Canada
- IPS:
-
Im, Peseran, and Shin
- LLC:
-
Levin, Lin, and Chu
- R&D:
-
Research and development
- REN :
-
Renewable energy consumption
References
Abbasi KR, Shahbaz M, Jiao Z, Tufail M (2021) How energy consumption, industrial growth, urbanization, and CO2 emissions affect economic growth in Pakistan? A novel dynamic ARDL simulations approach. Energy 221:119793. https://doi.org/10.1016/j.energy.2021.119793
Acheampong AO (2018) Economic growth, CO2 emissions and energy consumption: what causes what and where? Energy Econ 74:677–692. https://doi.org/10.1016/J.ENECO.2018.07.022
Adams S, Klobodu EKM, Apio A (2018) Renewable and nonrenewable energy, regime type and economic growth. Renew Energy 125:755–767. https://doi.org/10.1016/j.renene.2018.02.135
Adebayo TS, Altuntaş M, Goyibnazarov S, Agyekum EB, Zawbaa HM, Kamel S (2022a) Dynamic effect of disintegrated energy consumption and economic complexity on environmental degradation in top economic complexity economies. Energy Rep 8:12832–12842
Adebayo TS, Bekun FV, Rjoub H, Agboola MO, Agyekum EB, Gyamfi BA (2022b) Another look at the nexus between economic growth trajectory and emission within the context of developing country: fresh insights from a nonparametric causality-in-quantiles test. Environ Dev Sustain. https://doi.org/10.1007/s10668-022-02533-x
Adedoyin FF, Bekun FV, Alola AA (2020) Growth impact of transition from nonrenewable to renewable energy in the EU: the role of research and development expenditure. Renew Energy 159:1139–1145. https://doi.org/10.1016/j.renene.2020.06.015
Adenle AA, Manning L, Azadi H (2017) Agribusiness innovation: a pathway to sustainable economic growth in Africa. Trends Food Sci Technol 59:88–104. https://doi.org/10.1016/J.TIFS.2016.11.008
Ahmad N, Du L (2017) Effects of energy production and CO2 emissions on economic growth in Iran: ARDL approach. Energy 123:521–537. https://doi.org/10.1016/j.energy.2017.01.144
Ahmed Z, Ahmad M, Murshed M, Vaseer AI, Kirikkaleli D (2022) The trade-off between energy consumption, economic growth, militarization, and CO2 emissions: does the treadmill of destruction exist in the modern world? Environ Sci Pollut Res 29(12):18063–18076
Akadiri SS, Adebayo TS, Asuzu OC, Onuogu IC, Oji-Okoro I (2022) Testing the role of economic complexity on the ecological footprint in China: a nonparametric causality-in-quantiles approach. Energy Environ. https://doi.org/10.1177/0958305X221094573
Akadiri SS, Bekun FV, Sarkodie SA (2019) Contemporaneous interaction between energy consumption, economic growth and environmental sustainability in South Africa: what drives what? Sci Total Environ 686:468–475. https://doi.org/10.1016/J.SCITOTENV.2019.05.421
Alam MS, Apergis N, Paramati SR, Fang J (2021) The impacts of R&D investment and stock markets on clean-energy consumption and CO2 emissions in OECD economies. Int J Financ Econ 26(4):4979–4992. https://doi.org/10.1002/ijfe.2049
Al-mulali U (2011) Oil consumption, CO2 emission and economic growth in MENA countries. Energy 36(10):6165–6171. https://doi.org/10.1016/J.ENERGY.2011.07.048
Al-Mulali U, Fereidouni HG, Lee JY (2014) Electricity consumption from renewable and nonrenewable sources and economic growth: evidence from Latin American countries. Renew Sustain Energy Rev 30:290–298. https://doi.org/10.1016/j.rser.2013.10.006
Al-Mulali U, Ozturk I, Lean HH (2015) The influence of economic growth, urbanization, trade openness, financial development, and renewable energy on pollution in Europe. Nat Hazards 79(1):621–644. https://doi.org/10.1007/s11069-015-1865-9
An H, Razzaq A, Haseeb M, Mihardjo LW (2021) The role of technology innovation and people’s connectivity in testing environmental Kuznets curve and pollution heaven hypotheses across the belt and road host countries: new evidence from method of moments quantile regression. Environ Sci Pollut Res Int 28(5):5254–5270
Anakpo G, Oyenubi A (2022) Technological innovation and economic growth in Southern Africa: application of panel dynamic OLS regression. Dev Southern Africa 1–15. https://doi.org/10.1080/0376835X.2022.2052017
Anwar A, Malik S (2022) Cogitating the role of technological innovation and institutional quality on environmental degradation in G-7 countries. Int J Green Econ 15(3):213–232. https://doi.org/10.1504/IJGE.2021.120871
Anwar A, Chaudhary AR, Malik S (2022a) Modeling the macroeconomic determinants of environmental degradation in E-7 countries: the role of technological innovation and institutional quality. J Publ Affairs. https://doi.org/10.1002/pa.2834
Anwar A, Malik S, Ahmad P (2022b) Cogitating the role of technological innovation and institutional quality in formulating the sustainable development goal policies for E7 countries: evidence from quantile regression. Glob Bus Rev. https://doi.org/10.1177/09721509211072657
Apergis N, Payne JE (2010) Renewable energy consumption and economic growth: evidence from a panel of OECD countries. Energy Policy 38(1):656–660. https://doi.org/10.1016/j.enpol.2009.09.002
Apergis N, Payne JE, Menyah K, Wolde-Rufael Y (2010) On the causal dynamics between emissions, nuclear energy, renewable energy, and economic growth. Ecol Econ 69(11):2255–2260. https://doi.org/10.1016/j.ecolecon.2010.06.014
Appiah MO (2018) Investigating the multivariate Granger causality between energy consumption, economic growth and CO2 emissions in Ghana. Energy Policy 112:198–208. https://doi.org/10.1016/j.enpol.2017.10.017
Aslan A, and Oguz O (2016) The role of renewable energy consumption in economic growth: evidence from asymmetric causality. In Renew Sustain Energy Rev 60:953–959. Elsevier Ltd. https://doi.org/10.1016/j.rser.2016.01.123
Aslan A, Altinoz B, Özsolak B (2021) The nexus between economic growth, tourism development, energy consumption, and CO2 emissions in Mediterranean countries. Environ Sci Pollut Res 28:3243–3252. https://doi.org/10.1007/s11356-020-10667-6
Aslan A, Ocal O, Ozsolak B, Ozturk I (2022) Renewable energy and economic growth relationship under the oil reserve ownership: evidence from panel VAR approach. Renew Energy 188:402–410
Bayar Y, Gavriletea MD (2019) Energy efficiency, renewable energy, economic growth: evidence from emerging market economies. Qual Quant. https://doi.org/10.1007/s11135-019-00867-9
Baz K, Xu D, Ampofo GMK, Ali I, Khan I, Cheng J, Ali H (2019) Energy consumption and economic growth nexus: new evidence from Pakistan using asymmetric analysis. Energy 189:116254. https://doi.org/10.1016/J.ENERGY.2019.116254
Bekana DM (2020) Innovation and economic growth in sub-Saharan Africa: why institutions matter? An empirical study across 37 countries. Arthaniti J Econ Theory Pract 20(2):161–200. https://doi.org/10.1177/0976747920915114
Ben Jebli M, Ben Youssef S (2015) The environmental Kuznets curve, economic growth, renewable and non-renewable energy, and trade in Tunisia. Renew Sustain Energy Rev. Elsevier, 47(C), pages 173–185. https://doi.org/10.1016/j.rser.2015.02.049
Bengochea-Morancho A, Higón-Tamarit F, Martínez-Zarzoso I (2001) Economic growth and CO2 emissions in the European Union. Environ Resource Econ 19(2):165–172. https://doi.org/10.1023/A:1011188401445
Bhattacharyya R, Ghoshal T (2010) Economic growth and CO2 emissions. Environ Dev Sustain 12(2):159–177. https://doi.org/10.1007/s10668-009-9187-2
Bilbao-Osorio B, Rodríguez-Pose A (2004) From R&D to innovation and economic growth in the EU. Growth Change 35(4):434–455. https://doi.org/10.1111/j.1468-2257.2004.00256.x
Bildirici ME, and Gökmenoğlu SM (2017) Environmental pollution, hydropower energy consumption and economic growth: evidence from G7 countries. In Renew Sustain Energy Rev 75:68–85. Elsevier Ltd. https://doi.org/10.1016/j.rser.2016.10.052
Boukhelkhal A (2022) Energy use, economic growth and CO2 emissions in Africa: does the environmental Kuznets curve hypothesis exist? New evidence from heterogeneous panel under cross-sectional dependence. Environ Dev Sustain 24(11):13083–13110
Bouznit M, del Pablo-Romero MP (2016) CO2 Emission and economic growth in Algeria. Energy Policy 96:93–104. https://doi.org/10.1016/J.ENPOL.2016.05.036
Bowden N, Payne JE (2010) Sectoral analysis of the causal relationship between renewable and nonrenewable energy consumption and real output in the US. Energy Sources Part B 5(4):400–408. https://doi.org/10.1080/15567240802534250
Bozkurt C, and Akan Y (2014) Economic growth, CO2 emissions and energy consumption: the Turkish case. Int J Energy Econ Policy 4(3):484–494. www.econjournals.com
Chang T, Gupta R, Inglesi-Lotz R, Simo-Kengne B, Smithers D, and Trembling A (2015) Renewable energy and growth: evidence from heterogeneous panel of G7 countries using Granger causality. In Renew Sustain Energy Rev 52:1405–1412. Elsevier Ltd. https://doi.org/10.1016/j.rser.2015a.08.022
Chen TY (2001) The impact of mitigating CO2 emissions on Taiwan’s economy. Energy Econ 23(2):141–151. https://doi.org/10.1016/S0140-9883(00)00060-8
Chen Y, Lee C-C (2020) Does technological innovation reduce CO2 emissions cross-country evidence. J Cleaner Prod 263:121550. https://doi.org/10.1016/j.jclepro.2020.121550
Cheng C, Ren X, Wang Z (2019) The impact of renewable energy and innovation on carbon emissions: an empirical analysis for OECD countries. Energy Procedia 158:3506-e3512. https://doi.org/10.1016/j.egypro.2019.01.919
Chiou-Wei SZ, Chen CF, Zhu Z (2008) Economic growth and energy consumption revisited — evidence from linear and nonlinear Granger causality. Energy Econ 30:3063–3076
Churchill SA, Inekwe J, Smyth R, Zhang X, (2019) R&D intensity and carbon emissions in the G7: 1870–2014. Energy Econ 8030–8037:S0140988318305024. https://doi.org/10.1016/j.eneco.2018.12.020
Espoir DK, Mudiangombe BM, Bannor F, Sunge R, Tshitaka JLM (2022) CO2 emissions and economic growth: assessing the heterogeneous effects across climate regimes in Africa. Sci Total Environ 804:150089
Galindo MÁ, Méndez MT (2014) Entrepreneurship, economic growth, and innovation: are feedback effects at work? J Bus Res 67(5):825–829. https://doi.org/10.1016/J.JBUSRES.2013.11.052
Galindo M, Méndez-Picazo M (2013) Innovation, entrepreneurship and economic growth. Manag Decis 51(3):501–514. https://doi.org/10.1108/00251741311309625
Gong W, Wang C, Fan Z, Xu Y (2022) Drivers of the peaking and decoupling between CO2 emissions and economic growth around 2030 in China. Environ Sci Pollut Res 29(3):3864–3878
Granger CWJ (1969) Investigating causal relation by econometric and cross-sectional method. Econometrica 37:424–438. https://doi.org/10.2307/1912791
Grossman Gene M, Elhanan Helpman (1994) Endogenous Innovation in the Theory of Growth. J Econ Perspect 8(1):23–44. https://doi.org/10.1257/jep.8.1.23
Gu G, Wang Z (2018) Research on global carbon abatement driven by R&D investment in the context of INDCs. Energy 148:662-e675. https://doi.org/10.1016/j.energy.2018.01.142
Gyimah J, Yao X, Tachega MA, Hayford IS, Opoku-Mensah E (2022) Renewable energy consumption and economic growth: new evidence from Ghana. Energy 248:123559
Habiba U, Xinbang C, Anwar A (2022) Do green technology innovations, financial development, and renewable energy use help to curb carbon emissions? Renew Energy 193:1082–1093. https://doi.org/10.1016/j.renene.2022.05.084
Hao Y, Cho HC (2022) Research on the relationship between urban public infrastructure, CO2 emission and economic growth in China. Environ Dev Sustain 24(5):7361–7376
Hasan I, Tucci CL (2010) The innovation–economic growth nexus: global evidence. Res Policy 39(10):1264–1276. https://doi.org/10.1016/J.RESPOL.2010.07.005
Heidari H, Turan Katircioǧlu S, Saeidpour L (2015) Economic growth, CO2 emissions, and energy consumption in the five ASEAN countries. Int J Electr Power Energy Syst 64:785–791. https://doi.org/10.1016/J.IJEPES.2014.07.081
Henriques ST, Borowiecki KJ (2017) The drivers of long-run CO2 emissions in Europe, North America and Japan since 1800. Energy Pol 101:537-e549. https://doi.org/10.1016/j.enpol.2016.11.005
Ibrahim RL, Adebayo TS, Awosusi AA, Ajide KB, Adewuyi AO, and Bolarinwa FO (2022) Investigating the asymmetric effects of renewable energy-carbon neutrality nexus: can technological innovation, trade openness, and transport services deliver the target for Germany? Energy and Environ 0958305X2211270. https://doi.org/10.1177/0958305x221127020
Im KS, Pesaran MH, Shin Y (2003) Testing for unit roots in heterogeneous panels. J Econ 115(1):53–74. https://doi.org/10.1016/S0304-4076(03)00092-7
İnal V, Addi HM, Çakmak EE, Torusdağ M, Çalışkan M (2022) The nexus between renewable energy, CO2 emissions, and economic growth: empirical evidence from African oil-producing countries. Energy Rep 8:1634–1643
Inglesi-Lotz R (2016) The impact of renewable energy consumption to economic growth: a panel data application. Energy Econ 53:58–63. https://doi.org/10.1016/j.eneco.2015.01.003
Kahouli B (2018) The causality link between energy electricity consumption, CO2 emissions, R&D stocks and economic growth in Mediterranean countries (MCs). Energy 145:388–399. https://doi.org/10.1016/j.energy.2017.12.136
Karaaslan A, Çamkaya S (2022) The relationship between CO2 emissions, economic growth, health expenditure, and renewable and non-renewable energy consumption: empirical evidence from Turkey. Renew Energy 190:457–466
Khan MK, Khan MI, Rehan M (2020) The relationship between energy consumption, economic growth and carbon dioxide emissions in Pakistan. Financ Innov 6:1. https://doi.org/10.1186/s40854-019-0162-0
Khobai H, Roux PL (2017) Does renewable energy consumption drive economic growth: evidence from Granger-causality technique., Munich Personal RePEc Archive
Kongkuah M, Yao H, Yilanci V (2022) The relationship between energy consumption, economic growth, and CO2 emissions in China: the role of urbanisation and international trade. Environ Dev Sustain 24(4):4684–4708
Levin A, Lin CF, Chu CSJ (2002) Unit root tests in panel data: asymptotic and finite-sample properties. J Econ 108(1):1–24. https://doi.org/10.1016/S0304-4076(01)00098-7
Lin B, and Moubarak M (2014) Renewable energy consumption — economic growth nexus for China. In Renew Sustain Energy Rev40:111–117. Elsevier Ltd. https://doi.org/10.1016/j.rser.2014.07.128
Lin F-L (2021) R&D investment, financial and environmental performance nexuses via bootstrap Fourier quantiles Granger causality test. Economies 9(2):85. https://doi.org/10.3390/economies9020085
Liu X, Mao G, Ren J, Li RYM, Guo J, Zhang L (2015) How might China achieve its 2020 emissions target? A scenario analysis of energy consumption and CO2 emissions using the system dynamics model. J Clean Prod 103:401–410. https://doi.org/10.1016/j.jclepro.2014.12.080
Liu L, Anwar A, Irmak E, Pelit I (2022a) Asymmetric linkages between public-private partnership, environmental innovation, and transport emissions. Econ Res-Ekonomska Istrazivanja 35(1):6519–6540. https://doi.org/10.1080/1331677X.2022.2049979
Liu H, Anwar A, Razzaq A, Yang L (2022b) The key role of renewable energy consumption, technological innovation and institutional quality in formulating the SDG policies for emerging economies: evidence from quantile regression. Energy Rep 8:11810–11824. https://doi.org/10.1016/j.egyr.2022.08.231
Liu X, Kong H, Zhang S (2021) Can urbanization, renewable energy, and economic growth make environment more eco-friendly in Northeast Asia? Renew Energy 169:23–33. https://doi.org/10.1016/j.renene.2021.01.024
Lotfalipour MR, Falahi MA, Ashena M (2010) Economic growth, CO2 emissions, and fossil fuels consumption in Iran. Energy 35(12):5115–5120. https://doi.org/10.1016/J.ENERGY.2010.08.004
Maclaurin WR (1953) The sequence from invention to innovation and its relation to economic growth*. Q J Econ 67(1):97–111. https://doi.org/10.2307/1884150
Magazzino C (2015) Economic growth, CO2 emissions and energy use in Israel. Int J Sust Dev World 22(1):89–97. https://doi.org/10.1080/13504509.2014.991365
Mahmood N, Wang Z, Hassan ST (2019) Renewable energy, economic growth, human capital, and CO2 emission: an empirical analysis. Environ Sci Pollut Res 26(20):20619–20630. https://doi.org/10.1007/s11356-019-05387-5
Maji IK, Sulaiman C, Abdul-Rahim AS (2019) Renewable energy consumption and economic growth nexus: a fresh evidence from West Africa. Energy Rep 5:384–392. https://doi.org/10.1016/j.egyr.2019.03.005
Martins T, Barreto AC, Souza FM, Souza AM (2021) Fossil fuels consumption and carbon dioxide emissions in G7 countries: empirical evidence from ARDL bounds testing approach. Environ Pollut 291:118093
Menyah K, Wolde-Rufael Y (2010) CO2 emissions, nuclear energy, renewable energy and economic growth in the US. Energy Policy 38(6):2911–2915. https://doi.org/10.1016/j.enpol.2010.01.024
Mikayilov JI, Galeotti M, Hasanov FJ (2018) The impact of economic growth on CO2 emissions in Azerbaijan. J Clean Prod 197:1558–1572. https://doi.org/10.1016/J.JCLEPRO.2018.06.269
Mohiuddin O, Asumadu-Sarkodie S, Obaidullah M (2016) The relationship between carbon dioxide emissions, energy consumption, and GDP: a recent evidence from Pakistan. Cogent Eng 3(1):1210491. https://doi.org/10.1080/23311916.2016.1210491
Muhammad B (2019) Energy consumption CO2 emissions and economic growth in developed emerging and Middle East and North Africa countries. Energy 179232–245:S0360544219305420. https://doi.org/10.1016/j.energy.2019.03.126
Muhammad I, Ozcan R, Jain V, Sharma P, Shabbir MS (2022) Does environmental sustainability affect the renewable energy consumption? Nexus among trade openness, CO2 emissions, income inequality, renewable energy, and economic growth in OECD countries. Environ Sci Pollut Res 29(60):90147–90157. https://doi.org/10.1007/s11356-022-22011-1
Narayan S, Doytch N (2017) An investigation of renewable and nonrenewable energy consumption and economic growth nexus using industrial and residential energy consumption. Energy Econ 68:160–176
Nasrullah M, Rizwanullah M, Yu X, Liang L (2021) An asymmetric analysis of the impacts of energy use on carbon dioxide emissions in the G7 countries. Environ Sci Pollut Res 28:43643–43668. https://doi.org/10.1007/s11356-021-13799-5/Published
Obobisa ES, Chen H, Mensah IA (2022) The impact of green technological innovation and institutional quality on CO2 emissions in African countries. Technol Forecast Soc Chang 180:121670
Ocal O, Aslan A (2013) Renewable energy consumption-economic growth nexus in Turkey. Renew Sustain Energy Rev 28:494–499. https://doi.org/10.1016/j.rser.2013.08.036
Omri A (2014) An international literature survey on energy-economic growth nexus: evidence from country-specific studies. In Renew Sustain Energy Rev 38:951–959. Elsevier Ltd. https://doi.org/10.1016/j.rser.2014.07.084
Ozturk I, Acaravci A (2010) CO2 emissions, energy consumption and economic growth in Turkey. Renew Sustain Energy Rev 14(9):3220–3225. https://doi.org/10.1016/J.RSER.2010.07.005
Payne JE (2009) On the dynamics of energy consumption and output in the US. Appl Energy 86(4):575–577. https://doi.org/10.1016/j.apenergy.2008.07.003
Payne JE (2011) On biomass energy consumption and real output in the US. Energy Sources Part B 6(1):47–52. https://doi.org/10.1080/15567240903160906
Pece AM, Simona OEO, Salisteanu F (2015) Innovation and economic growth: an empirical analysis for CEE countries. Procedia Econ Finance 26:461–467. https://doi.org/10.1016/S2212-5671(15)00874-6
Pedroni P (1999) Critical values for cointegration tests in heterogeneous panels with multiple regressors. Oxford Bull Econ Stat 61(S1):653–670. https://doi.org/10.1111/1468-0084.0610s1653
Pedroni P (2004) Panel cointegration: asymptotic and finite sample properties of pooled time series tests with an application to the PPP hypothesis. Economet Theor 20(3):597–625. https://doi.org/10.1017/S0266466604203073
Peng H, Tan X, Li Y, Hu L (2016) Economic growth, foreign direct investment and CO2 emissions in China: a panel Granger causality analysis. Sustainability 8(3):233. https://doi.org/10.3390/su8030233
Robalino-López A, Mena-Nieto Á, García-Ramos JE, Golpe AA (2015) Studying the relationship between economic growth, CO2 emissions, and the environmental Kuznets curve in Venezuela (1980–2025). Renew Sustain Energy Rev 41:602–614. https://doi.org/10.1016/J.RSER.2014.08.081
Saidi K, Hammami S (2015) The impact of CO2 emissions and economic growth on energy consumption in 58 countries. Energy Rep 1:62–70. https://doi.org/10.1016/J.EGYR.2015.01.003
Saidi K, Mbarek MB (2016) Nuclear energy, renewable energy, CO2 emissions, and economic growth for nine developed countries: evidence from panel Granger causality tests. Prog Nucl Energy 88:364–374. https://doi.org/10.1016/j.pnucene.2016.01.018
Say NP, Yücel M (2006) Energy consumption and CO2 emissions in Turkey: empirical analysis and future projection based on an economic growth. Energy Policy 34(18):3870–3876. https://doi.org/10.1016/j.enpol.2005.08.024
Schumpeter JA (2010) Capitalism, socialism and democracy. Routledge. https://doi.org/10.4324/9780203857090
Sebri M, Ben-Salha O (2014) On the causal dynamics between economic growth, renewable energy consumption, CO2 emissions and trade openness: fresh evidence from BRICS countries. Renew Sustain Energy Rev 39:14–23. https://doi.org/10.1016/j.rser.2014.07.033
Segerstrom PS (1991) Innovation, imitation, and economic growth. J Polit Econ 99(4):807–827. https://doi.org/10.1086/261779
Shahbaz M, Jam FA, Bibi S, Loganathan N (2016) Multivariate Granger causality between CO2 emissions, energy intensity and economic growth in Portugal: evidence from cointegration and causality analysis. Technol Econ Dev Econ 22(1):47–74. https://doi.org/10.3846/20294913.2014.989932
Shahbaz M, Raghutla C, Chittedi KR, Jiao Z, Vo XV (2020) The effect of renewable energy consumption on economic growth: Evidence from the renewable energy country attractive index. Energy 207:118162. https://doi.org/10.1016/j.energy.2020.118162
Shahzad U, Fareed Z, Shahzad F, Shahzad K (2021) Investigating the nexus between economic complexity, energy consumption and ecological footprint for the United States: new insights from quantile methods. J Cleaner Prod 279:123806. https://doi.org/10.1016/j.jclepro.2020.123806
Sreenu N (2022) Impact of FDI, crude oil price and economic growth on CO2 emission in India: - symmetric and asymmetric analysis through ARDL and non -linear ARDL approach. Environ Sci Pollut Res 29:42452–42465. https://doi.org/10.1007/s11356-022-19597-x
Streimikiene D, Kasperowicz R (2016) Review of economic growth and energy consumption: a panel cointegration analysis for EU countries. Renew Sustain Energy Rev 59:1545–1549. https://doi.org/10.1016/j.rser.2016.01.041
Sun Y, Anwar A, Razzaq A, Liang X, Siddique M (2022) Asymmetric role of renewable energy, green innovation, and globalization in deriving environmental sustainability: evidence from top-10 polluted countries. Renewable Energy 185:280–290. https://doi.org/10.1016/j.renene.2021.12.038
Sunday T, Altuntaş M, Goyibnazarov S (2022) Dynamic effect of disintegrated energy consumption and economic complexity on environmental degradation in top economic complexity economies. Energy Rep 8:12832–12842. https://doi.org/10.1016/j.egyr.2022.09.161
Thompson M (2018) Social capital, innovation and economic growth. J Behav Exp Econ 73:46–52. https://doi.org/10.1016/J.SOCEC.2018.01.005
Timmons JA, Bygrave WD (1986) Venture capital’s role in financing innovation for economic growth. J Bus Ventur 1(2):161–176. https://doi.org/10.1016/0883-9026(86)90012-1
Troster V, Shahbaz M, Uddin GS (2018) Renewable energy, oil prices, and economic activity: a Granger-causality in quantiles analysis. Energy Econ 70:440–452. https://doi.org/10.1016/j.eneco.2018.01.029
Tugcu CT, Ozturk I, Aslan A (2012) Renewable and nonrenewable energy consumption and economic growth relationship revisited: evidence from G7 countries. Energy Econ 34:1942–1950
United Nations (2021). UN Climate Change Conference UK 21. UN Climate Change Conference UK 21. Glasgow
Wang C, Raza SA, Adebayo TS, Yi S, Shah MI (2023) The roles of hydro, nuclear and biomass energy towards carbon neutrality target in China: a policy-based analysis. Energy 262(PA):125303. https://doi.org/10.1016/j.energy.2022.125303
Wang G, Sadiq M, Bashir T, Jain V, Ali SA, Shabbir MS (2022a) The dynamic association between different strategies of renewable energy sources and sustainable economic growth under SDGs. Energ Strat Rev 42:100886
Wang Q, Dong Z, Li R, Wang L (2022b) Renewable energy and economic growth: new insight from country risks. Energy 238:122018
Wen Y, Shabbir MS, Haseeb M, Kamal M, Anwar A, Khan MF and Malik S (2022) The dynamic effect of information and communication technology and renewable energy on CO2 emission: Fresh evidence from panel quantile regression. Front Environ Sci 10:953035. https://doi.org/10.3389/fenvs.2022.953035
Wong PK, Ho YP, Autio E (2005) Entrepreneurship, innovation and economic growth: evidence from GEM data. Small Bus Econ 24(3):335–350. https://doi.org/10.1007/s11187-005-2000-1
Wu L, Adebayo TS, Yue XG, Umut A (2022) The role of renewable energy consumption and financial development in environmental sustainability: implications for the Nordic countries. Int J Sust Dev World 00(00):1–16. https://doi.org/10.1080/13504509.2022.2115577
Yang L, Li Z (2017) Technology advance and the carbon dioxide emission in China — empirical research based on the rebound effect. Energy Pol. 101:150-e161. https://doi.org/10.1016/j.enpol.2016.11.020
Yoo S-H (2006) The causal relationship between electricity consumption and economic growth in the ASEAN countries. Energy Pol 34(18):3573–3582: S0301421505001928. https://doi.org/10.1016/j.enpol.2005.07.011
Zafar MW, Saleem MM, Destek MA, Caglar AE (2022) The dynamic linkage between remittances, export diversification, education, renewable energy consumption, economic growth, and CO2 emissions in top remittance-receiving countries. Sustain Dev 30(1):165–175
Zafar MW, Shahbaz M, Hou F, Sinha A (2019) From nonrenewable to renewable energy and its impact on economic growth: the role of research & development expenditures in Asia-Pacific Economic Cooperation countries. J Clean Prod 212:1166–1178. https://doi.org/10.1016/j.jclepro.2018.12.081
Zhang Q, Adebayo TS, Ibrahim RL, Al-Faryan MAS (2022) Do the asymmetric effects of technological innovation amidst renewable and nonrenewable energy make or mar carbon neutrality targets? Int J Sust Dev World 00(00):1–13. https://doi.org/10.1080/13504509.2022.2120559
Zhao J, Shahbaz M, Dong X, Dong K (2021) How does financial risk affect global CO2 emissions? The role of technological innovation. Technol Forecast Soc Chang 168:120751
Author information
Authors and Affiliations
Contributions
E. E. A. is responsible for organizing the progress of paper, part of the manuscript writing, analysis and software, finalization, and submission. D. Ö. is responsible for guiding the topic selection, data collection, and part of the manuscript writing.
Corresponding author
Ethics declarations
Ethical approval
The authors affirm that they are free of any known financial conflicts of interest or close personal ties that could have an impact on the work described in this publication.
Consent to participate
We confirm that we do not have any human participants, data, or tissues.
Consent for publication
The authors grant permission for publication, and this paper has not been submitted to or published in any other journals.
Conflict of interest
The authors declare no competing interests.
Additional information
Communicated by Arshian Sharif
Publisher's note
Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.
This article has been retracted. Please see the retraction notice for more detail:https://doi.org/10.1007/s11356-024-33124-0
Rights and permissions
Springer Nature or its licensor (e.g. a society or other partner) holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law.
About this article
Cite this article
Ayvaz, E.E., Över, D. RETRACTED ARTICLE: How economic growth affected from technological innovation, CO2 emissions, and renewable energy consumption? Empirical analysis in G7 countries. Environ Sci Pollut Res 30, 35127–35141 (2023). https://doi.org/10.1007/s11356-022-24676-0
Received:
Accepted:
Published:
Issue Date:
DOI: https://doi.org/10.1007/s11356-022-24676-0