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Is Green innovation the “Golden Ticket” in achieving energy security and sustainable development?

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  • Wang, Kai-Hua
  • Li, Shu-Mei
  • Lobonţ, Oana-Ramona
  • Moldovan, Nicoleta-Claudia

Abstract

This study employs the time-varying parameter vector autoregression method to explore the paths for achieving sustainable development (SD) and energy security (ES) by investigating the dynamic connectedness between green innovation (GI), fossil energy (FE), clean energy (CE), and ES in the context of SD. The empirical results reveal that short-term connectedness between variables dominates overall connectedness, with GI acting as the transmitter. Time-frequency analysis demonstrates that the total spillovers of system change with market and policy turbulence and a clearer SD strategy can reduce spillovers between variables. Finally, net pairwise connectedness indicates that GI functions as a stable transmitter in the system, advancing SD and ES. The main contributions of this study include constructing a framework that includes GI, FE, CE, ES, and SD across major action paths and determining the responses of specific variables to other variables under external shocks. Distinguishing these spillover variations in the time domain provides a basis for developing a targeted risk assessment framework and offers valuable information for market participants operating at different times. Based on our findings, we suggest that the government can promote sustainable development and energy security by advancing green innovation.

Suggested Citation

  • Wang, Kai-Hua & Li, Shu-Mei & Lobonţ, Oana-Ramona & Moldovan, Nicoleta-Claudia, 2025. "Is Green innovation the “Golden Ticket” in achieving energy security and sustainable development?," Economic Analysis and Policy, Elsevier, vol. 87(C), pages 297-314.
    • Handle: RePEc:eee:ecanpo:v:87:y:2025:i:c:p:297-314
    DOI: 10.1016/j.eap.2025.06.016
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