Does Technological Innovation Promote Renewable Energy Investment?
Technological innovation ( TI ) is conducive to economic growth, but whether it promotes the development of renewable energy remains controversial. This study aims to analyze the interrelation between TI and renewable energy investment ( REI ) to see how to promote the coordinated development of TI...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
SAGE Publishing
2024-02-01
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| Series: | SAGE Open |
| Online Access: | https://doi.org/10.1177/21582440241227760 |
| _version_ | 1797321232224354304 |
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| author | Qian Zhao Chi-Wei Su Jun-Mo Guo |
| author_facet | Qian Zhao Chi-Wei Su Jun-Mo Guo |
| author_sort | Qian Zhao |
| collection | DOAJ |
| description | Technological innovation ( TI ) is conducive to economic growth, but whether it promotes the development of renewable energy remains controversial. This study aims to analyze the interrelation between TI and renewable energy investment ( REI ) to see how to promote the coordinated development of TI and REI . By using the bootstrap rolling-window subsample Granger causality test and the sample from January 2010 to July 2022 in China, we find that the influence of a country’s overall TI level on REI is twofold. On the one hand, the increase in a country’s overall TI level has a positive influence on REI by reducing the renewable energy risk. On the other hand, TI can reduce REI by bringing more demand for relatively stable non-renewable energy. Conversely, REI has both positive and negative influences on a country’s overall TI level. Additional REI promotes renewable energy-related TI , but it may crowd out the investment in other fields and impede TI . Based on these results, policymakers intended to achieve sustainable development should encourage renewable energy TI , which is conducive to reducing the risk of renewable energy. In addition, policymakers should pay attention to REI ’s role in crowing out the investment in other fields, and take measures to promote TI of the whole society. JEL Classification: C32, O32, Q2. |
| first_indexed | 2024-03-08T04:54:40Z |
| format | Article |
| id | doaj.art-83ff5bf73931425c9d5510c426f4d53a |
| institution | Directory Open Access Journal |
| issn | 2158-2440 |
| language | English |
| last_indexed | 2024-03-08T04:54:40Z |
| publishDate | 2024-02-01 |
| publisher | SAGE Publishing |
| record_format | Article |
| series | SAGE Open |
| spelling | doaj.art-83ff5bf73931425c9d5510c426f4d53a2024-02-07T16:03:52ZengSAGE PublishingSAGE Open2158-24402024-02-011410.1177/21582440241227760Does Technological Innovation Promote Renewable Energy Investment?Qian Zhao0Chi-Wei Su1Jun-Mo Guo2Central University of Finance and Economics, Beijing, ChinaQingdao University, Qingdao, Shandong, ChinaFujian Jiangxia University, Fuzhou, Fujian, ChinaChi-Wei Su is also affiliated to Adnan Kassar School of Business, Lebanese American University, Beirut, LebanonTechnological innovation ( TI ) is conducive to economic growth, but whether it promotes the development of renewable energy remains controversial. This study aims to analyze the interrelation between TI and renewable energy investment ( REI ) to see how to promote the coordinated development of TI and REI . By using the bootstrap rolling-window subsample Granger causality test and the sample from January 2010 to July 2022 in China, we find that the influence of a country’s overall TI level on REI is twofold. On the one hand, the increase in a country’s overall TI level has a positive influence on REI by reducing the renewable energy risk. On the other hand, TI can reduce REI by bringing more demand for relatively stable non-renewable energy. Conversely, REI has both positive and negative influences on a country’s overall TI level. Additional REI promotes renewable energy-related TI , but it may crowd out the investment in other fields and impede TI . Based on these results, policymakers intended to achieve sustainable development should encourage renewable energy TI , which is conducive to reducing the risk of renewable energy. In addition, policymakers should pay attention to REI ’s role in crowing out the investment in other fields, and take measures to promote TI of the whole society. JEL Classification: C32, O32, Q2.https://doi.org/10.1177/21582440241227760 |
| spellingShingle | Qian Zhao Chi-Wei Su Jun-Mo Guo Does Technological Innovation Promote Renewable Energy Investment? SAGE Open |
| title | Does Technological Innovation Promote Renewable Energy Investment? |
| title_full | Does Technological Innovation Promote Renewable Energy Investment? |
| title_fullStr | Does Technological Innovation Promote Renewable Energy Investment? |
| title_full_unstemmed | Does Technological Innovation Promote Renewable Energy Investment? |
| title_short | Does Technological Innovation Promote Renewable Energy Investment? |
| title_sort | does technological innovation promote renewable energy investment |
| url | https://doi.org/10.1177/21582440241227760 |
| work_keys_str_mv | AT qianzhao doestechnologicalinnovationpromoterenewableenergyinvestment AT chiweisu doestechnologicalinnovationpromoterenewableenergyinvestment AT junmoguo doestechnologicalinnovationpromoterenewableenergyinvestment |