Innovation, export, CO2 emission and economic growth : a panel analysis of selected Central and Eastern European countries

Veselinović, Nevena and Bugarčić, Filip Ž. and Radonjić, Ljubivoje (2020) Innovation, export, CO2 emission and economic growth : a panel analysis of selected Central and Eastern European countries. In: Sixth international scientific conference "Contemporary Issues in Economics, Business and Management" [EBM 2020]. Faculty of Economics, Kragujevac, pp. 235-245. ISBN 978-86-6091-116-4 !

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Abstract

The article presents an effort to examine the development patterns of the Central and Eastern European countries (CEEC), considering notable macroeconomic relations amongst export intensity, energy use, innovation capacity, and economic growth. From that perspective, the main objective of the article is to identify the significance and impact of prior mentioned macroeconomic features on economic growth, as well as the dynamics of CO2 emission in the CEEC. The Panel Auto Regressive Distributed Lag (ARDL) is utilized as the central model for examining the long-term and short-term relations among economic growth, technological innovations, export intensity, and CO2 emission. Based on the Pooled Mean Group (PMG) estimator, outcomes exhibit that the export intensity and the dynamics of CO2 emission have a notable impact on economic growth in the long term, while the impact of export intensity becomes irrelevant to explain the movement of economic growth in the short term. Innovation capacity has no significant impact on economic growth trends in the long or the short term. The different outcomes are obtained regarding the influence of the specified variables on the dynamics of CO2 emission. Trends in economic growth, in the long run, moderately determine the dynamics of CO2 emission. The innovation capacity and the export intensity have a significant negative impact on the movement of CO2 emission dynamics in the long run, although the dynamics of CO2 emissions remain determined only by innovation capacity in the short term.

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