Catalyzing change: a cross-country perspective on diffusion patterns of green innovation

Central to sustainability is environmental-friendly technology and innovation realized through the introduction of new products or processes in the market. The subsequent diffusion process is crucial, representing the gradual and widespread availability of successful innovations through their adoption by countries for relevant applications. Promoting the dissemination of eco-friendly innovation and ensuring a habitable world for future generations necessitate the pivotal roles played by green innovation and the diffusion of environment-friendly technology. This study delves into the complex landscape of green innovation diffusion, offering a comprehensive exploration of patterns observed across various economies. Focusing on a group of developed and emerging economies, our work aims to uncover distinctive trends in the adoption and dissemination of environmentally sustainable innovations using the bass diffusion model . Bass diffusion model suggested that some countries are laggards and others are advanced in the green innovation diffusion process. By employing the feasible generalized least square (FGLS) model, we empirically identified the key factors influencing green innovation diffusion. Our findings suggest that relative competitive advantage and complexity boost the diffusion of green innovation in the selected developed and emerging economies.