<p>The remarkable surge of economic growth has damaged the environmental quality in the world, especially in the Organization of the Petroleum Exporting Countries (OPEC) economies. However, the major polluted countries slow down their shift to green energy sources to ensure their long-term sustainability and respect climate change. This article seeks to analyze the knowledge aspects of technological innovation and financial development in ecological footprints in OPEC countries by utilizing longitudinal data over the period 1990–2018. This research inspires a new knowledge economy aspect of technological innovation (KnwTI) and financial development (KnwFD) through precept component analysis, including renewable energy (RNE), energy use (EU), economic growth (GDP), and urban population (POP) for substantial indicators that perform the technology and use a harmonious environmental setting specified as Eco-synergy Stochastic Impacts by Regression on Population, Affluence, and Technology (Eco-synergy-STIRPAT) model. The key findings explore that RNE and KnwTI are substantial variables appealing to environmental degradation. A 1% increase in the KnwTI reduces the ecological footprint (EFP) by 6.9% in the long run. Therefore, the validity of the U-shaped environmental Kuznets curve (EKC) hypothesis in the context of Eco-synergy STIRPAT modeling is supported by a powerful scope that effectively discourages endogeneity elements and allows a non-linear link between EFP and economic growth in the first stage and EFP and the KnwTI in the second instance. Finally, our research highlights external shocks, such as economic crises and energy use price fluctuations, that can destabilize this U-shaped relationship, affirming that policymakers should take an integrated green energy and green innovation approach into account when formulating environmental regulations.</p>

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The Knowledge Economy Aspects of Technological Innovation and Financial Development on Ecological Footprints in OPEC Countries: An Eco-Synergy STIRPAT Methodology

  • Lamia Ben Amor,
  • Hassen Toumi,
  • Rania Ben Hamida,
  • Habiba Ameur,
  • Hizia Bennia

摘要

The remarkable surge of economic growth has damaged the environmental quality in the world, especially in the Organization of the Petroleum Exporting Countries (OPEC) economies. However, the major polluted countries slow down their shift to green energy sources to ensure their long-term sustainability and respect climate change. This article seeks to analyze the knowledge aspects of technological innovation and financial development in ecological footprints in OPEC countries by utilizing longitudinal data over the period 1990–2018. This research inspires a new knowledge economy aspect of technological innovation (KnwTI) and financial development (KnwFD) through precept component analysis, including renewable energy (RNE), energy use (EU), economic growth (GDP), and urban population (POP) for substantial indicators that perform the technology and use a harmonious environmental setting specified as Eco-synergy Stochastic Impacts by Regression on Population, Affluence, and Technology (Eco-synergy-STIRPAT) model. The key findings explore that RNE and KnwTI are substantial variables appealing to environmental degradation. A 1% increase in the KnwTI reduces the ecological footprint (EFP) by 6.9% in the long run. Therefore, the validity of the U-shaped environmental Kuznets curve (EKC) hypothesis in the context of Eco-synergy STIRPAT modeling is supported by a powerful scope that effectively discourages endogeneity elements and allows a non-linear link between EFP and economic growth in the first stage and EFP and the KnwTI in the second instance. Finally, our research highlights external shocks, such as economic crises and energy use price fluctuations, that can destabilize this U-shaped relationship, affirming that policymakers should take an integrated green energy and green innovation approach into account when formulating environmental regulations.