Theoretical Analysis and Empirical Test of Innovation Driving Green Economic Growth
The research on innovation-driven green economic growth has provided valuable insights into the direct action mechanism and transmission mechanism of innovation driving green economic growth.Theoretical analysis is conducted,and a research hypothesis is proposed to further explore the relationship between innovation and green economic growth.Subsequently,direct and intermediary effect models are constructed,and empirical testing is performed using China's provincial panel data from 2005 to 2020.The empirical results reveal the significant direct effect of innovation on positively empowering green economic growth.It implies that regions that prioritize and foster innovation are more likely to experience higher levels of green economic growth.Moreover,the research findings indicate that the positive effect of innovation driving green economic growth has a stronger impact in regions with higher levels of economic development.It suggests that the benefits of innovation-driven growth are more pronounced in economically advanced areas.Furthermore,the study identifies several intermediary transmission mechanisms through which innovation indirectly empowers green economic growth.These mechanisms include human capital,industrial upgrading,financial development,and government intervention.Each of these factors plays a role in facilitating the positive effects of innovation on green economic growth.Among the intermediary variables,human capital emerges as the most influential factor in driving the indirect empowerment of green economic growth.It highlights the significance of investing in education,skills development,and knowledge creation to enhance the overall innovation capacity of a region.Industrial upgrading also plays a vital role in the transmission of innovation-driven,as it enables the transformation and modernization of industries more sustainability.The research further emphasizes the importance of government intervention and policies that support innovation and green economic growth.Additionally,the intensities of intermediary variables are ranked based on their impacts on green economic growth.Human capital is identified as the strongest intermediary variable,followed by industrial upgrading and government intervention.Financial development,on the other hand,exhibits the least intensifying role among the intermediary variables.The ranking provides valuable insights for policymakers and stakeholders to prioritize their efforts and resources in promoting innovation-driven for sustainable and green economic growth.To effectively realize innovation-driven and promote green economic growth,it is crucial to consider both the direct and indirect enabling effects of innovation.While leveraging the direct impact of innovation is important,equal attention should be given to the intermediary variables that facilitate the transmission of innovation's positive effects.The entails implementing policies and strategies that foster human capital development,encourage industrial upgrading,promote financial development,and facilitate appropriate government interventions.In conclusion,the research on innovation driving green economic growth highlights the direct and indirect effects of innovation on empowering sustainable and environmentally friendly economic growth.By understanding the mechanisms through which innovation drives green economic growth,policymakers and stakeholders can make informed decisions and implement targeted strategies to foster innovation,enhance intermediary variables,and ultimately achieve a more sustainable and prosperous future.
green economic growthinnovation drivendriving mechanismthe mediation effect
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