Sustainable Development, Год журнала: 2023, Номер 32(1), С. 959 - 978

Опубликована: Авг. 8, 2023

Abstract Due to substantial development in emerging economies over the last three decades, climate complexities are increasing which have posed serious threats environmental quality and sustainability. To this end, eco‐innovation, green trade openness (GTO), carbon price been recognized as effective tools for mitigation promotion of growth (GG) core COP 26, Sustainable Development Goals 2030, Carbon Neutrality by 2060. Considering this, aim study is investigate influence GTO, on GG low‐carbon emissions period 1996–2021. The current provides a standard Solow model introducing new index using entropy weight method. This incorporates 30 indicators across five dimensions emphasizes essential roles investigated factor. Additionally, GTO utilizing an extensive trading basket 255 commodities. cross‐sectional dependency, slope heterogeneity models, used dynamic heterogeneous panel data estimation techniques that is, based augmented nonlinear autoregressive distributed lag, mean group probe asymmetric effects. outcomes from empirical analysis reveal positive shocks innovation, price, energy mitigate promote economic while negative these variables cause degradation reduce economies. Finally, policy insight, suggests makers should invigorate stimulate innovation energy, implement mechanisms, establish balance between protection growth.

Язык: Английский