Green innovation-green growth nexus in BRICS: Does financial globalization matter?

Green growth is a novel theme, gaining prominence in the current era. Therefore, this study investigates the impact of green innovation and financial globalisation on green growth in the BRICS (Brazil, Russia, India, China and South Africa) economies. The study employs the CS-ARDL model for the analysis. The findings con -firm that the long-run estimates of environmental innovations and patents are positively significant, ensur-ing that environment-related technologies are helpful in attaining green growth in the BRICS economies. Moreover, the estimates of financial globalisation are significantly positive, suggesting that a rise in financial globalisation leads to an increase in green growth in the BRICS economies. Our findings imply that, to pro-mote green growth in the BRICS economies, policymakers should focus on R & D activities that can encourage the development of green innovations.& COPY; 2022 The Authors. Published by Elsevier Espana, S.L.U. on behalf of Journal of Innovation & Knowledge. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)

Automated summary

This study investigates the impact of green innovation and financial globalisation on green growth in the BRICS economies, and employs the CS-ARDL model for analysis. The findings show that environmental innovations and patents have a positive and significant long-term effect on green growth in the BRICS economies. Additionally, financial globalisation has a significantly positive effect on green growth in these economies. The study suggests that policymakers should focus on R&D activities to promote the development of green innovations and achieve green growth in the BRICS economies.