Innovational Duality and Sustainable Development: Finding Optima amidst Socio-Ecological Policy Trade-off in post-COVID-19 Era

Avik Sinha, Arnab Adhikari and Ashish Kumar Jha

MPRA Paper from University Library of Munich, Germany

Abstract: Purpose: This study attempts to analyze the socio-ecological policy trade-off caused by technological innovations in the post-COVID-19 era. The study outcomes are utilized to design a comprehensive policy framework for attaining sustainable development goals. Design/methodology/approach: Study is done for 100 countries over 1991-2019. Second-generation estimation method is used. Innovation is measured by total factor productivity, environmental quality is measured by carbon dioxide (CO2) emissions, and social dimension is captured by unemployment. Findings: Innovation-CO2 emissions association is found to be inverted U-shaped and Innovation-Unemployment association is found to be U-shaped. Research implications: Study outcomes show the conflicting impact of technological innovation leading to policy trade-off. This dual impact of innovation is considered during policy recommendation. Social Implications: Policy recommendations in the study show a way to internalize the negative social externality exerted by innovation. Practical implications: The policy framework recommended in the study shows a way to address the objectives of SDG 8, 9, and 13 during post-COVID-19 period. Originality/value: This study contributes to the literature by considering the policy trade-off caused by innovation and recommending an SDG-oriented policy framework for the post-COVID-19 era.

Keywords: Innovation; SDG; COVID; CO2 emissions; Unemployment (search for similar items in EconPapers)
JEL-codes: Q4 Q5 (search for similar items in EconPapers)
Date: 2021, Revised 2021
New Economics Papers: this item is included in nep-ene and nep-env
References: View references in EconPapers View complete reference list from CitEc
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