Technological Innovation, Renewable Energy and Green Growth: perspective of SAARC Countries

Abstract

The paper explores the significance of green growth as a model for sustainable economic development, resource utilization, and environmental conservation. Exploring the influence of technical innovation and clean energy usage on green growth in SAARC-4 nations from 1992 to 2020, the study employs panel data, conducting unit root and co-integration techniques. Results indicate that the variables under consideration become stationary after taking first difference, affirming their stability. Employing FMOLS and DOLS models, the research reveals a negative effect of technical advancement and Government quality on green growth, interestingly, economic growth is found to impede green growth in SAARC countries positively. In conclusion, the study advocates for increased emphasis on technological innovation to foster green growth, urging governments and policymakers to invest in and encourage the development of innovative renewable resources