HOW DOES GLOBALIZATION IMPACT THE ADOPTION OF GREEN TECHNOLOGIES BY COUNTRIES?

Abstract

Globalization unfolds itself continuously in the form of economic integration, policy transfer across borders, cultural exchange, and dissemination of technological advancements in the new digitalized times. Mitigating climate change requires the development and implementation of environmentally friendly technologies and the use of innovative measures. This paper examines how different types of globalization influence and affect the adoption of green technologies. We use country-level data for the globalization index (KOF), development of environmentally related technologies by total technologies(ET), carbon dioxide emissions per capita interaction with globalization, environmental taxes as a percentage of total tax revenue of government(TAX), environmentally related ODA as a percentage of total allocated ODA (ODA), mortality by exposure to ambient ozone(OZO) and total energy supply index(TES) for 81countries for the years 1990 to 2019 and using advanced panel data modelling. The various globalizations are separately examined which include trade, finance, informational and interpersonal globalizations. The empirical results show that globalization can positively and significantly influence the introduction of green technologies in all countries. The results are quite robust when using different alternative model specifications. The results of this study also show how the adoption, collaboration, acceleration and transfer of green technologies between economies worldwide can be promoted and accelerated.