The dynamics effect of green technology innovation on economic growth and CO 2 emission in Singapore: new evidence from
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RESEARCH ARTICLE
The dynamics effect of green technology innovation on economic growth and CO2 emission in Singapore: new evidence from bootstrap ARDL approach Tang Meirun 1 & Leonardus WW Mihardjo 2 & Muhammad Haseeb 3 & Syed Abdul Rehman Khan 4 & Kittisak Jermsittiparsert 5,6 Received: 17 July 2020 / Accepted: 7 September 2020 # Springer-Verlag GmbH Germany, part of Springer Nature 2020
Abstract For an economy to excel in growth, there is usually a trade-off between financial development and environment deterioration. For a country like Singapore, which has shown a radical growth and is known for its population density, it is important to explore the role of green technology innovation in the pursuit of economic excellence with the least possible cost to the environment. By employing the novel bootstrap autoregressive-distributed lag (BARDL) technique using a time series data from 1990 to 2018, the results reported a positive and significant relationship of green technology innovation with economic growth and negative and significant relationship with carbon emissions in both long run and short run. Based on the findings, several managerial implications were discussed, whereas based on the limitations, directions for future researchers are also given. Keywords Green technology . Economic growth . CO2 emission . Singapore . Bootstrap ARDL . STIRPAT
Introduction One of the major determinants of global warming is human activity, which deteriorates the quality of the environment by consuming more oil and burning more coal thus ignoring the preservation principles of restricting the excess consumption up to the levels of actual need (Du et al. 2019). Industrial revolutions not only improve the optimization of the global production and lead the world to evolve at a faster speed (Du and Li 2019; Du et al. 2019), but they also enable people to
have an improved standard of living due to increased urbanization which also leads to excess consumption (Ding and Peng 2018); however, this has also increased the level of environmental pollution which has alarmed environmental scientists, researchers, and policymakers (Elmqvist et al. 2013). Nevertheless, human activities are the predominant cause of the unusual changed weather conditions, global warming, abnormal flooding, unexpected droughts, and abrupt glacier melting (Balsalobre-Lorente et al. 2018; Destek and Sarkodie 2019); therefore, there is a need to have serious
Responsible Editor: Nicholas Apergis * Kittisak Jermsittiparsert [email protected]
1
School of Management, Guizhou University, Guiyang, China
2
Bina Nusantara University, Jalan Hang Lekir I no. 6, Senayan, Jakarta 10270, Indonesia
3
Taylor’s Business School (TBS), Taylor’s University Lakeside Campus, 1 Jalan Taylors, Subang Jaya, Selangor, Malaysia
4
School of Economics and Management, Tsinghua University, Beijing, China
Muhammad Haseeb [email protected]; [email protected]
5
Department for Management of Science and Technology Development, Ton Duc Thang Uni
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