The dynamics effect of green technology innovation on economic growth and CO2emission in Singapore: new evidence from bootstrap ARDL approach

For an economy to excel in growth, there is usually a trade-off between financial development and environment deterioration. For a country like Singapore, which has shown a radical growth and is known for its population density, it is important to explore the role of green technology innovation in the pursuit of economic excellence with the least possible cost to the environment. By employing the novel bootstrap autoregressive-distributed lag (BARDL) technique using a time series data from 1990 to 2018, the results reported a positive and significant relationship of green technology innovation with economic growth and negative and significant relationship with carbon emissions in both long run and short run. Based on the findings, several managerial implications were discussed, whereas based on the limitations, directions for future researchers are also given.

Automated summary

There is a positive relationship between green technology innovation and economic growth, and a negative relationship between green technology innovation and carbon emissions. Therefore, developing green technology can help reduce environmental damage while pursuing economic growth.