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AbstractIn this paper, we examine the relationship between government political ideology and green innovation. We employ data on 20 democratic countries with multi-party systems between 2010 and 2018. Green innovation is measured by the total patents in environment-related technologies. We find a negative relationship between left-leaning government and green innovation, suggesting that leftist governments are associated with low green innovations. This finding is consistent with the political assumption that leftist governments resist technological advancement because it may cause unemployment, whereas rightist promotes technological advancement to benefit the capitalist. We also find that the effect of political ideology remains the same during electoral years, implying that elections do not present any pressure on parties to change their course towards green innovation. Our result implies that partisan politics matters in finding solutions to unending environmental challenges. The results are robust to alternative measurements of variables and econometric identification strategies.

AbstractThis study investigates the impact of environmental‐technological innovation and energy credit rebates on carbon reductions in Australia and its global comparison. We applied a system generalized method of moment (S‐GMM) on a dataset of 11 years (from 2008 to 2019) for Australia and 23 top green scheme economies. The main findings suggested that Australia's environmental innovation and energy credit rebates are associated with carbon reduction. Similarly, we found that environmental innovation is associated with carbon reduction in the 23 top green schemes economies, but energy credit rebate increases carbon emissions. This is due to the weak green financial system in the 23 top green schemes economies. We robust our findings, and the result confirmed a robust alternative model. These findings offer numerous essential policies for the government and stakeholders in the energy and environmental sectors. More specifically, it recommends more investment in environmental innovation and an overhaul of the green financial market.

AbstractConsidering the need for environmental sustainability while ensuring economic growth and development by 2030, this study uses data on 123 developed and developing countries to examine factors that influence green growth. The empirical results show that economic development positively influences green growth. However, trade openness is detrimental to green growth. Regarding energy-related factors, we find energy consumption negatively affecting green growth, but renewable energy consumption significantly improves green growth. In further analysis, we find that the influence of these factors differs between developed and developing countries. The result implies that countries at a different development level will require different strategies in achieving the Sustainable Development Goals in 2030. The results are robust to alternative identification strategies such as the System Generalised Method of Movement, which accounts for potential endogeneity.

AbstractThe authors have employed several techniques to account for model uncertainty in the inequality-growth model. However, the BMA technique is the most prominent approach that solves model uncertainty in the inequality-growth literature. This study applied a recent BMA analysis using panel data to examine the role of fiscal policy on income inequality in 37 OECD countries from 2000 to 2015. Fiscal policy (in terms of tax revenue increase) serves as a redistributive tool or instrument to transfer income from higher income earners to lower earners and is considered a mechanism for income equality. To the best of the author's knowledge, only a few empirical growth studies have considered fiscal policy impact in their income inequality model setup. Our work contributes to very little research on the fiscal policy–income nexus using a novel BMA and MCMC regression as a robust methodology. Our empirical evidence on the role of fiscal policy on income inequality has found three variables, namely, economic growth, fiscal policy, and urban population, to impact income inequality significantly. We also found that the countries are conditionally neither converging nor diverging because of the probability of their coefficient being high at 100%. As expected, the coefficient of fiscal policy has a significant negative relationship with income inequality, indicating that fiscal policy reduces income inequality significantly by an average of 22% (with 100% certainty) for both BMA and Bayes models in OECD countries.