The role of ecological consequences of green energy in developed and developing economies

Abstract

Recently, green energy has been a significant factor in the technology changes that require researchers’ emphasis. Thus, this study examines the impact of green energy such as renewable energy production, energy import and renewable energy consumption on the technological changes. The current article also investigates the role of economic factors (control variables) such as economic growth and population growth on the technological changes. The present research has selected ten developed and ten developing countries and extracted the data from 2008 to 2019. This article adopted fixed-effect model (FEM), robust standard error and generalized method of moments (GMM) to examine the association between the variables. The results indicated that green energy, such as renewable energy production and renewable energy consumption, along with economic factors such as economic growth, have a positive association with technological changes. The results also indicated that energy import and population growth have a negative association with technological changes. This article guides the regulators while developing effective policies regarding technological changes in the country.