Impact of supply chain digitalization, business enterprise R&D expenditure and government budget allocations for R&D: A roadmap towards carbon neutrality

IF 13.6 2区经济学 Q1 ECONOMICS Energy Economics Pub Date : 2024-11-20 DOI:10.1016/j.eneco.2024.108057

Zhouzhi Li, Jiaguo Liu

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Abstract

Reliance only on economic growth fueled by fossil fuels may become unsustainable, where the negative ecological consequences of this growth path are rapidly impacting the ecosystem. To address these challenges, enhancing supply chain digitalization, increasing business enterprise R&D expenditure, and boosting government budget allocations for R&D are essential. Additionally, improving fossil fuel energy efficiency can play a critical role in reducing the environmental impact while transitioning to a more sustainable economic model. Hence, to solve this policy issue, this study empirically analyzed the drivers of CO₂ emissions (CEM) between 2000Q₁ and 2022Q₄. By using time-frequency estimators, such as wavelet quantile-on-quantile regression (WQQR) and bootstrap Fourier Granger causality (BFQC), the research produces a variety of results that may be used to shape a policy framework focused on Sustainable Development Goals (SDGs). The results from BFQC show that business enterprise R&D expenditure, government budget allocations for R&D, fossil fuel energy efficiency, and oil Price Uncertainty lessen CEM while supply chain digitalization increases CEM. The bootstrap Fourier Granger causality also disclosed negative causality from business enterprise R&D expenditure government budget allocations for R&D, fossil fuel energy efficiency, and oil Price Uncertainty to CEM. In addition, supply chain digitalization has a positive predictive power over CEM. This study contributes to the existing literature by proposing an exhaustive and flexible policy structure designed to promote the advancement of SDGs 7, 8, and 13.

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来源期刊

Energy Economics ECONOMICS-

CiteScore

18.60

自引率

12.50%

发文量

524

期刊介绍： Energy Economics is a field journal that focuses on energy economics and energy finance. It covers various themes including the exploitation, conversion, and use of energy, markets for energy commodities and derivatives, regulation and taxation, forecasting, environment and climate, international trade, development, and monetary policy. The journal welcomes contributions that utilize diverse methods such as experiments, surveys, econometrics, decomposition, simulation models, equilibrium models, optimization models, and analytical models. It publishes a combination of papers employing different methods to explore a wide range of topics. The journal's replication policy encourages the submission of replication studies, wherein researchers reproduce and extend the key results of original studies while explaining any differences. Energy Economics is indexed and abstracted in several databases including Environmental Abstracts, Fuel and Energy Abstracts, Social Sciences Citation Index, GEOBASE, Social & Behavioral Sciences, Journal of Economic Literature, INSPEC, and more.