Akademik Məlumat İdarəetmə Sistemi
ECONOMIC CHANGE AND RESTRUCTURING, vol.57, no.3, 2024 (SSCI)
The study examines the relationship between climate change, the interconnected elements of BRICS countries, and investments in research and development for renewable energy. The paper employing the augmented mean group estimator and Dumitrescu-Hurlin non-causality test for the economy of BRICS countries from 1990 to 2021 revealed robust evidence that increasing investments in renewable energy research and development (RandD) significantly reduces greenhouse gas emissions in BRICS nations. A 1% increase in per capita renewable energy RandD spending is associated with a 2.24% decrease in emissions. Likewise, a 1% rise in overall energy technology RandD budgets corresponds to a 3.15% emissions reduction. These findings highlight the considerable potential of innovation-focused policies to promote sustainability alongside continued economic growth. It suggests the need for more research to devise effective policies that use RandD to reduce emissions without compromising larger development objectives.