{"title":"Financial development and green technological innovation: a case of GCC countries","authors":"Umar Farooq, M. Tabash, Adel Ahmed","doi":"10.1108/ijis-09-2023-0206","DOIUrl":null,"url":null,"abstract":"\nPurpose\nThe purpose of this study is to check the impact of financial development on green technological innovation (GTI).\n\n\nDesign/methodology/approach\nThe sample size includes the 20-year (2001–2020) financial statistics of six Gulf Cooperation Council (GCC) region countries. To check the proposed relationship, this research uses a series of econometric models including fixed effect, fully modified ordinary least square and robust least square models.\n\n\nFindings\nThe statistical results imply that financial sector development has a direct significant impact on GTI. A developed financial sector can uplift green technological development by offering more loans to industrial sectors and the import of modern technology. The statistical analysis further reveals the positive impact of gross domestic product (GDP), foreign direct investment inflow and trade volume while the negative impact of resources contribution on GTI.\n\n\nPractical implications\nThe findings suggest key policy suggestions regarding the role of the financial sector in promoting GTI in the GCC region.\n\n\nOriginality/value\nThe novelty of this study lies in its examination of the relationship between FD and GTI in the GCC countries, a region with its unique economic and environmental dynamics.\n","PeriodicalId":44643,"journal":{"name":"International Journal of Innovation Science","volume":null,"pages":null},"PeriodicalIF":3.0000,"publicationDate":"2024-01-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Innovation Science","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1108/ijis-09-2023-0206","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 0
Abstract
Purpose
The purpose of this study is to check the impact of financial development on green technological innovation (GTI).
Design/methodology/approach
The sample size includes the 20-year (2001–2020) financial statistics of six Gulf Cooperation Council (GCC) region countries. To check the proposed relationship, this research uses a series of econometric models including fixed effect, fully modified ordinary least square and robust least square models.
Findings
The statistical results imply that financial sector development has a direct significant impact on GTI. A developed financial sector can uplift green technological development by offering more loans to industrial sectors and the import of modern technology. The statistical analysis further reveals the positive impact of gross domestic product (GDP), foreign direct investment inflow and trade volume while the negative impact of resources contribution on GTI.
Practical implications
The findings suggest key policy suggestions regarding the role of the financial sector in promoting GTI in the GCC region.
Originality/value
The novelty of this study lies in its examination of the relationship between FD and GTI in the GCC countries, a region with its unique economic and environmental dynamics.
期刊介绍:
The International Journal of Innovation Science publishes fundamental and applied research in innovation practices. As the official journal of the International Association of Innovation Professionals (IAOIP), the journal is a forum for the exchange of advanced knowledge in innovation, including emerging technologies and best practices, tools and techniques, metrics, and organization design and culture; as well as the stakeholder engagement, change management, and leadership skills required to ensure innovation succeeds. Areas of Coverage: -Innovation processes, methods, techniques- Individual''s role in Innovation- Improvements in HR, marketing, finance, or other disciplines that enable innovation- Innovation practices in specific industries or countries- Innovation centers, incubators, labs...- Regional or national economic development/policies related to innovation- Innovation competency, skills- Innovation conventions, competitions, or training- Innovation for entrepreneurs-Regional impacts on innovation- Growing innovationthrough university programs- Attracting innovative companies and entrepreneurs