Moderating roles of technological innovation and economic complexity in financial development-environmental quality nexus of the BRICS economies

Adewale Alola Andrew, Tomiwa Sunday Adebayo, Taiwo Temitope Lasisi and Obumneke Muoneke

Technology in Society, 2024, vol. 78, issue C

Abstract: The aspects of globalization are certainly not without economic-related opportunities especially in the developing countries such as Brazil, Russia, India, China, and South Africa (BRICS). By employing the cross-sectionally augmented autoregressive distributed lag among other empirical approaches over the period 1995–2017, the following critical results are presented by the investigation. Economic complexity, technological innovation, and financial development all yield desirable outlook toward carbon emission mitigation in the countries while economic growth further shows short- and long-run detrimental effect on environmental quality. Moreover, the combined effect of financial development and economic complexity has no significant effect on carbon emission in the short- and long-run while also neutralizing the direct environmental effect of financial development. Additionally, technological innovation moderate financial development to further mitigate carbon emission, thus justifying the direct and indirect environmental effects of technological innovation. Meanwhile, negative environmental effect of economic growth remained unabated in the entire scenario. This result emphasizes the role of environmental-related technologies transfer in improving the bloc's environmental sustainability.

Keywords: Climate policy; Innovation; Environmental quality; Economic complexity; BRICS (search for similar items in EconPapers)
JEL-codes: F15 Q55 Q56 R11 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0160791X24001295
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:teinso:v:78:y:2024:i:c:s0160791x24001295

DOI: 10.1016/j.techsoc.2024.102581

Access Statistics for this article

Technology in Society is currently edited by Charla Griffy-Brown

More articles in Technology in Society from Elsevier
Bibliographic data for series maintained by Catherine Liu ().