Intellectual property's role in achieving carbon neutrality through resource efficiency

This study conducts an assessment and comparative analysis of the impact of intellectual property on resource efficiency in both emerging economies (E7) and developed economies (G7). The investigation utilizes annual data spanning from 2000 to 2020 and employs the ARDL (Autoregressive Distributed Lag) technique. The findings reveal distinct patterns: intellectual property rights have a limited impact on resource efficiency in E7 nations, while they act as catalysts for enhancing resource efficiency in G7 countries, showing both short-term and long-term effects. Furthermore, the analysis uncovers varying effects of the Consumer Price Index (CPI) on resource efficiency, with notably adverse consequences in E7 countries. ICT development has a negative influence on resource efficiency in E7 countries but a positive impact in G7 countries, primarily due to disparities in energy sources. Additionally, the stock exchange market value and engagement in green energy trade emerge as positive drivers of resource efficiency in both E7 and G7 groups. Building on these insights, the study proposes practical policy recommendations, such as developing energy-efficient solutions, expanding international collaboration for the exchange of green technologies, and providing green financial support and grants.