The Dynamic Impact of Financial Globalization, Environmental Innovations and Energy Productivity on Renewable Energy Consumption: Evidence From Advanced Panel Techniques

Attaining cleaner production is a major challenge for BRICS economies. In this context, study explores the effect of financial globalization on renewable energy consumption in economies from 1990 to 2018. It probably first research linkage between and consumption. Therefore, adds current literature by presenting new empiric evidence how globalization, conjunction with environmental innovations, productivity, prices, economic growth, affect doing so, utilized novel econometric methods such as continuously updated fully modified (CUP-FM) bias-corrected (CUP-BC) techniques evaluate long-run results. The empirical findings show that innovation, prices promote contrast, growth impedes This suggests governments policymakers countries should consider increasing role innovations increase share, which can be appropriate solutions challenges achieve Paris Climate Agreement’s goals. require speeding up permits projects, raising tax credits, including substantially more grants loans, extending timelines pandemic-affected investing directly emerging clean sources.