IDEAS home Printed from https://ideas.repec.org/a/eee/renene/v217y2023ics0960148123011473.html
   My bibliography  Save this article

Impact of eco-innovation and financial efficiency on renewable energy – Evidence from OECD countries

Author

Listed:
  • Wang, Qiang
  • Hu, Sailan
  • Ge, Yunfei
  • Li, Rongrong

Abstract

The research on the driving factors of renewable energy consumption has attracted a lot of attention, but the impact of eco-innovation and financial efficiency on it is rare, therefore, we launched this study to explore the impact of financial efficiency and ecological innovation on renewable energy consumption in OECD countries between 2001 and 2018 using fully modified ordinary least square (FMOLS) and Driscoll-Kraay standard error regression. Empirical results show that both financial efficiency and eco-innovation have long-term positive correlations with renewable energy consumption. In addition, we analyzed the heterogeneity of the impact of selected factors on renewable energy consumption through fixed-effects panel quantile regression, and found that with the increase of quantile, the promotion effect of financial efficiency and ecological innovation on renewable energy consumption is decreasing. Finally, we suggest that OECD countries increase and expand their total financial resources, while promoting healthy competition among financial institutions to improve financial efficiency; promote ecological innovation in energy production, transmission and distribution, in order to improve the use of renewable energy.

Suggested Citation

  • Wang, Qiang & Hu, Sailan & Ge, Yunfei & Li, Rongrong, 2023. "Impact of eco-innovation and financial efficiency on renewable energy – Evidence from OECD countries," Renewable Energy, Elsevier, vol. 217(C).
    • Handle: RePEc:eee:renene:v:217:y:2023:i:c:s0960148123011473
    DOI: 10.1016/j.renene.2023.119232
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0960148123011473
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.renene.2023.119232?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:renene:v:217:y:2023:i:c:s0960148123011473. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/renewable-energy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.