Nexus among green energy consumption, foreign direct investment, green innovation technology, and environmental pollution on economic growth.

Abstract

The objective of this study is to examine the impact of green energy consumption (GEC), foreign direct investment (FDI), green innovation technology (GIT), and environmental pollution (EP) on economic growth (EG) of selected South Asian countries under the sustainable development goal (SDGs) number seven (7). This study uses panel annual data set from world development indicators (WDI) and OECD statistics for twenty-one (21) years starting from 2000 to 2020. This study applies dynamic ordinary least squares (DOLS) and fully modified ordinary least squares (FMOLS) for data analysis and long-run relationship among variables. The findings of our study states that FDI, green energy consumption, and green innovation technology have positive effect among selected sample countries. However, it is noted that environmental degradation has adverse effect on economic growth.