Abstract
The present paper explored the effect of renewable energy, financial development, and technological innovation on the ecological footprint in Brazil using a yearly dataset stretching between 1990 and 2018. The research leverage dynamic autoregressive distributed lag, Bayern and Hank cointegration, and frequency domain causality to explore these interrelationships. The ARDL bounds test outcome confirms a long-run connection between ecological footprint and its drivers. Besides, we employed the Bayern and Hank cointegration, and the outcome resonated with the ARDL bounds test result. Moreover, the dynamic ARDL outcomes disclosed that economic progress worsens the ecosystem whilst renewable energy, trade globalization, and technological innovation lessen the ecological footprint. In addition, no significant interrelationship was found between financial development and ecological footprint. Moreover, with the exemption of financial development, all the exogenous variables can forecast the ecological footprint in Brazil. The study proposes that policymakers in Brazil should undertake investments in research and development in order to achieve technological innovation. Furthermore, since technological innovation has been shown to contribute significantly to lowering the ecological footprint, it is possible to assume that enhancing current technology is the ultimate remedy to Brazil's ecological problems.
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