Financial development and green technological innovation: a case of GCC countries

Umar Farooq, M. Tabash, Adel Ahmed
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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.
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金融发展与绿色技术创新:海湾合作委员会国家的案例
本研究的目的是检验金融发展对绿色技术创新(GTI)的影响。样本量包括海湾合作委员会(GCC)地区六个国家 20 年(2001-2020 年)的金融统计数据。为了验证所提出的关系,本研究使用了一系列计量经济学模型,包括固定效应模型、完全修正的普通最小二乘法模型和稳健最小二乘法模型。发达的金融部门可以通过向工业部门提供更多贷款和进口现代技术来促进绿色技术发展。统计分析进一步揭示了国内生产总值 (GDP)、外国直接投资流入量和贸易量对 GTI 的积极影响,而资源贡献对 GTI 的消极影响。原创性/价值本研究的新颖之处在于研究了海湾合作委员会国家金融发展与 GTI 之间的关系,该地区具有独特的经济和环境动态。
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来源期刊
CiteScore
6.30
自引率
10.30%
发文量
32
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
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