Innovation, the knowledge economy, and green growth: Is knowledge-intensive growth really environmentally friendly?

Xinxin Wang, Zeshui Xu, Yong Qin and Marinko Skare

Energy Economics, 2022, vol. 115, issue C

Abstract: Green growth plays a vital role in achieving ecological sustainability in the presence of eco-innovation. This study explores the relationship between technological innovation, the knowledge economy, and sustainability using panel 1996–2017 data from 30 Organization for Economic Cooperation and Development countries. The knowledge economy variables are presented as intangible assets from the EU KLEMS Release 2019 database, and panel vector autoregression estimation, the Granger causality tests impulse response functions, and the forecast-error variance decomposition technique are used to test the link. The findings demonstrate that the knowledge economy is good for sustainability and that technological innovation results in green growth. Intangible asset is positively associated with green growth. Green growth has a positive effect on purchased organizational capital, vocational training, and own-account organizational capital. Granger causality test results indicate a causal relationship between intangible asset and green growth. This work contributes to the current literature on sustainable development and highlights five aspects that affect performance. Our study provides a novel insight on knowledge intensive growth impact on environment and economy. Policymakers and practitioners can use this study quantitative knowledge to design efficient policy and management guidelines for promoting green growth.

Keywords: Green growth; Knowledge economy; Innovation; Panel vector autoregression; Environmental policies (search for similar items in EconPapers)
JEL-codes: O44 Q56 Q58 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:115:y:2022:i:c:s0140988322004601

DOI: 10.1016/j.eneco.2022.106331

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