The Influence of Sustainable Technology Transfer and Sustainable Innovation on Green Growth

Nations globally have realized the need to implement sustainable strategies, such as green technology transfer, to address alarming environmental concerns. This study investigates the influence of sustainable technology transfer (STT) and sustainable innovation (SI) on green growth (GG) and the subsequent influence of GG on economic growth (EG), using fixed effect model with data from 18 G20 nations spanning from 1991 to 2022. The findings show that sustainable innovation and sustainable technology transfer help promote the country's green growth, which further helps achieve better economic performance. Additionally, results indicate the viability of attaining environmentally sustainable growth and economic growth simultaneously. It highlights the importance of creating sustainable business models that encourage and profit from the transition to a greener, more environmentally conscious society. The study offers significant implications for academicians and policymakers, encouraging deeper exploration of strategies to incorporate green growth concepts into economic policies and suggesting avenues for future research.