Share:


The perceived relationship between sustainable energy technologies, eco-innovation, economic growth and social sustainability: evidence from China

    FengSheng Chien Affiliation
    ; Ka Yin Chau Affiliation
    ; Xiang-Chu Huang Affiliation

Abstract

Social sustainability is a global necessity because of environmental and economic uncertainty. This issue needs the foremost solution, and for this purpose, researchers’ and policymakers’ emphasis is required. Thereby, the present paper investigates sustainable energy technologies such as solar and hydroelectric, eco-innovation and EG and their impact on social sustainability in China. The study also used industrialization and inflation as the control variables in the time span of 1981 to 2020. The present study also applied the Dynamic Auto-regressive Distributed Lags (DARDL) model to evaluate the association between the outlined variables. The results indicated that sustainable energy technologies such as solar and hydroelectric, eco-innovation, economic growth, industrialization and inflation are significantly associated with social sustainability in China. The present paper offers standard policies to regulators in making regulations related to maintaining social sustainability by using effective sustainable energy technologies and eco-innovation.

Keyword : sustainable energy technologies, social sustainability, eco-innovation, economic growth, industrialization, inflation

How to Cite
Chien, F., Chau, K. Y., & Huang, X.-C. (2024). The perceived relationship between sustainable energy technologies, eco-innovation, economic growth and social sustainability: evidence from China. Technological and Economic Development of Economy, 30(1), 175–195. https://doi.org/10.3846/tede.2024.20445
Published in Issue
Feb 12, 2024
Abstract Views
390
PDF Downloads
484
Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

References

Ahmed, Z., Cary, M., Shahbaz, M., & Vo, X. V. (2021). Asymmetric nexus between economic policy uncertainty, renewable energy technology budgets, and environmental sustainability: Evidence from the United States. Journal of Cleaner Production, 313, Article 127723. https://doi.org/10.1016/j.jclepro.2021.127723

Aldewachi, B., & Ayağ, Z. (2022). Achieving sustainability in solar energy firms in Turkey through adopting lean principles. Sustainability, 14(1), Article 108. https://doi.org/10.3390/su14010108

Alnabulsi, Z. H., & Salameh, R. S. (2021). Financial inclusion strategy and its impact on economic development. International Journal of Economics and Finance Studies, 13(2), 226–252.

Anwar, A., Sharif, A., Fatima, S., Ahmad, P., Sinha, A., Khan, S. A. R., & Jermsittiparsert, K. (2021). The asymmetric effect of public private partnership investment on transport CO2 emission in China: Evidence from quantile ARDL approach. Journal of Cleaner Production, 288, Article 125282. https://doi.org/10.1016/j.jclepro.2020.125282

Apaydin, M., Bayraktar, E., & Hossary, M. (2018). Achieving economic and social sustainability through hyperconnectivity: A cross-country comparison. Benchmarking: An International Journal, 25(9), 3607–3627. https://doi.org/10.1108/BIJ-07-2017-0205

Barbieri, E., Di Tommaso, M. R., Pollio, C., & Rubini, L. (2020). Getting the specialization right. Industrialization in Southern China in a sustainable development perspective. World Development, 126, Article 104701. https://doi.org/10.1016/j.worlddev.2019.104701

Campos-Guzmán, V., García-Cáscales, M. S., Espinosa, N., & Urbina, A. (2019). Life cycle analysis with multi-criteria decision making: A review of approaches for the sustainability evaluation of renewable energy technologies. Renewable and Sustainable Energy Reviews, 104, 343–366. https://doi.org/10.1016/j.rser.2019.01.031

Cera, G., Khan, K. A., Blahova, A., & Belas Jr, J. (2022). Do owner-manager demographics in SMEs matter for corporate social responsibility? Equilibrium. Quarterly Journal of Economics and Economic Policy, 17(2), 511–531. https://doi.org/10.24136/eq.2022.018

Chang, L., Saydaliev, H. B., Meo, M. S., & Mohsin, M. (2022). How renewable energy matter for environmental sustainability: Evidence from top-10 wind energy consumer countries of European Union. Sustainable Energy, Grids and Networks, 31, Article 100716. https://doi.org/10.1016/j.segan.2022.100716

Dat, N. M., Dai, N. Q., & Ngoc, P. B. (2022). The impact of corporate social responsibilities (CSR), entrepreneurship, and financial factors on the financial performance of the banks in ASEAN countries. Contemporary Economics, 16(2), 227–240. https://doi.org/10.5709/ce.1897-9254.479

Demirel, P., & Kesidou, E. (2019). Sustainability‐oriented capabilities for eco‐innovation: Meeting the regulatory, technology, and market demands. Business Strategy the Environment, 28(5), 847–857. https://doi.org/10.1002/bse.2286

Fang, Z., Razzaq, A., Mohsin, M., & Irfan, M. (2022). Spatial spillovers and threshold effects of internet development and entrepreneurship on green innovation efficiency in China. Technology in Society, 68, Article 101844. https://doi.org/10.1016/j.techsoc.2021.101844

Gaines, V. W., & Kasztelnik, K. (2021). Personnel factors of corporate internal auditing on the contemporary microeconomics environment in the United States. Contemporary Economics, 15(2), 138–152. https://doi.org/10.5709/ce.1897-9254.440

Gasparėnienė, L., Remeikiene, R., Sosidko, A., & Vėbraitė, V. (2021). A modelling of S&P 500 index price based on US economic indicators: Machine learning approach. Engineering Economics, 32(4), 362–375. https://doi.org/10.5755/j01.ee.32.4.27985

Grazuleviciute-Vileniske, I., Seduikyte, L., Teixeira-Gomes, A., Mendes, A., Borodinecs, A., & Buzinskaite, D. J. S. (2020). Aging, living environment, and sustainability: What should be taken into account? Sustainability, 12(5), Article 1853. https://doi.org/10.3390/su12051853

Grum, B., & Grum, D. K. (2020). Concepts of social sustainability based on social infrastructure and quality of life. Facilities, 38(11/12), 783–800. https://doi.org/10.1108/F-04-2020-0042

Gusmano, M. K., & Okma, K. (2018). Population aging and the sustainability of the welfare state. Hastings Center Report, 48(S3), S57–S61. https://doi.org/10.1002/hast.915

Hansen, P., Morrison, G. M., Zaman, A., & Liu, X. (2020). Smart technology needs smarter management: Disentangling the dynamics of digitalism in the governance of shared solar energy in Australia. Energy Research Social Science, 60, Article 101322. https://doi.org/10.1016/j.erss.2019.101322

Hussain, H. I., Kamarudin, F., Anwar, N. A. M., Sufian, F., Ali, A., & Saudi, M. H. (2022). Social globalisation and efficiency of microfinance institutions nexus: Empirical evidence on financial and social efficiency. Engineering Economics, 33(1), 27–46. https://doi.org/10.5755/j01.ee.33.1.29130

Ijadi Maghsoodi, A., Ijadi Maghsoodi, A., Mosavi, A., Rabczuk, T., & Zavadskas, E. K. (2018). Renewable energy technology selection problem using integrated h-swara-multimoora approach. Sustainability, 10(12), Article 4481. https://doi.org/10.3390/su10124481

Jonah, B., & Kanyangale, M. I. (2021). Mid-career employees’perceptions and strategies of pre-retirement planning and financial security in gambling company in Durban. International Journal of Business and Management Studies, 13(1), 60–82.

Jordan, S., & Philips, A. Q. (2018). Cointegration testing and dynamic simulations of autoregressive distributed lag models. The Stata Journal, 18(4), 902–923. https://doi.org/10.1177/1536867X1801800409

Joshi, G., & Yenneti, K. (2020). Community solar energy initiatives in India: A pathway for addressing energy poverty and sustainability? Energy Buildings, 210, Article 109736. https://doi.org/10.1016/j.enbuild.2019.109736

Kuo, T.-C., & Smith, S. (2018). A systematic review of technologies involving eco-innovation for enterprises moving towards sustainability. Journal of Cleaner Production, 192, 207–220. https://doi.org/10.1016/j.jclepro.2018.04.212

Larbi-Siaw, O., Xuhua, H., Owusu, E., Owusu-Agyeman, A., Fulgence, B. E., & Frimpong, S. A. (2022). Eco-innovation, sustainable business performance and market turbulence moderation in emerging economies. Technology in Society, 68, Article 101899. https://doi.org/10.1016/j.techsoc.2022.101899

Li, L., Li, Z., Li, X., Zhang, S., & Luo, X. (2020). A new framework of industrialized construction in China: Towards on-site industrialization. Journal of Cleaner Production, 244, Article 118469. https://doi.org/10.1016/j.jclepro.2019.118469

Lin, B., & Zhu, J. (2019). Determinants of renewable energy technological innovation in China under CO2 emissions constraint. Journal of Environmental Management, 247, 662–671. https://doi.org/10.1016/j.jenvman.2019.06.121

Loia, F., & Adinolfi, P. (2021). Teleworking as an eco-innovation for sustainable development: Assessing collective perceptions during COVID-19. Sustainability, 13(9), Article 4823. https://doi.org/10.3390/su13094823

Mahmood, N., Zhao, Y., Lou, Q., & Geng, J. (2022). Role of environmental regulations and eco-innovation in energy structure transition for green growth: Evidence from OECD. Technological Forecasting and Social Change, 183, Article 121890. https://doi.org/10.1016/j.techfore.2022.121890

Marin-Garcia, A., Gil-Saura, I., & Ruiz-Molina, M. E. (2022). Do innovation and sustainability influence customer satisfaction in retail? A question of gender. Economic Research-Ekonomska Istraživanja, 35(1), 546–563. https://doi.org/10.1080/1331677X.2021.1924217

Mendoza-del Villar, L., Oliva-Lopez, E., Luis-Pineda, O., Benešová, A., Tupa, J., & Garza-Reyes, J. A. (2020). Fostering economic growth, social inclusion & sustainability in Industry 4.0: A systemic approach. Procedia Manufacturing, 51, 1755–1762. https://doi.org/10.1016/j.promfg.2020.10.244

Moner-Girona, M., Kakoulaki, G., Falchetta, G., Weiss, D. J., & Taylor, N. (2021). Achieving universal electrification of rural healthcare facilities in sub-Saharan Africa with decentralized renewable energy technologies. Joule, 5(10), 2687–2714. https://doi.org/10.1016/j.joule.2021.09.010

Moriarty, P., & Honnery, D. (2020). New approaches for ecological social sustainability in a post-pandemic world. World, 1(3), 191–204. https://doi.org/10.3390/world1030014

Musarat, M. A., Alaloul, W. S., Liew, M., Maqsoom, A., & Qureshi, A. H. (2021). The effect of inflation rate on CO2 emission: A framework for Malaysian construction industry. Sustainability, 13(3), Article 1562. https://doi.org/10.3390/su13031562

Nazir, M. I., Nazir, M. R., Hashmi, S. H., & Ali, Z. (2018). Environmental Kuznets Curve hypothesis for Pakistan: Empirical evidence form ARDL bound testing and causality approach. International Journal of Green Energy, 15(14–15), 947–957. https://doi.org/10.1080/15435075.2018.1529590

Niaz, A., Asad, M. M., Abdulmuhsin, A. A., Shavanov, M., & Churi, P. (2022). Risk factors for the rice crop farming community in China: A documentary analysis of the challenges during post COVID-19. Asian Education and Development Studies, 11(2), 298–310. https://doi.org/10.1108/AEDS-11-2020-0257

Niţescu, D.-C., & Cristea, M.-A. (2020). Environmental, social and governance risks – new challenges for the banking business sustainability. Amfiteatru Economic, 22(55), 692–706. https://doi.org/10.24818/EA/2020/55/692

Nowotny, J., Dodson, J., Fiechter, S., Gür, T. M., Kennedy, B., Macyk, W., Bak, T., Sigmund, W., Yamawaki, M., & Rahman, K. A. (2018). Towards global sustainability: Education on environmentally clean energy technologies. Renewable and Sustainable Energy Reviews, 81(Part 2), 2541–2551. https://doi.org/10.1016/j.rser.2017.06.060

Nzotcha, U., Kenfack, J., & Manjia, M. B. (2019). Integrated multi-criteria decision making methodology for pumped hydro-energy storage plant site selection from a sustainable development perspective with an application. Renewable Sustainable Energy Reviews, 112, 930–947. https://doi.org/10.1016/j.rser.2019.06.035

Orji, I. J., Kusi-Sarpong, S., Gupta, H., & Okwu, M. (2019). Evaluating challenges to implementing eco-innovation for freight logistics sustainability in Nigeria. Transportation Research Part A: Policy and Practice, 129, 288–305. https://doi.org/10.1016/j.tra.2019.09.001

Pan, X., Sinha, P., & Chen, X. (2021). Corporate social responsibility and eco‐innovation: The triple bottom line perspective. Corporate Social Responsibility and Environmental Management, 28(1), 214–228. https://doi.org/10.1002/csr.2043

Paraschiv, S., Paraschiv, L. S., & Serban, A. (2021). Increasing the energy efficiency of a building by thermal insulation to reduce the thermal load of the micro-combined cooling, heating and power system. Energy Reports, 7(Suppl 5), 286–298. https://doi.org/10.1016/j.egyr.2021.07.122

Peternel, I., & Grešš, M. (2021). Economic diplomacy: Concept for economic prosperity in Croatia. Economic Research-Ekonomska Istraživanja, 34(1), 109–121. https://doi.org/10.1080/1331677X.2020.1774788

Rani, P., Mishra, A. R., Pardasani, K. R., Mardani, A., Liao, H., & Streimikiene, D. (2019). A novel VIKOR approach based on entropy and divergence measures of Pythagorean fuzzy sets to evaluate renewable energy technologies in India. Journal of Cleaner Production, 238, Article 117936. https://doi.org/10.1016/j.jclepro.2019.117936

Salite, D., Kirshner, J., Cotton, M., Howe, L., Cuamba, B., Feijó, J., & Macome, A. Z. (2021). Electricity access in Mozambique: A critical policy analysis of investment, service reliability and social sustainability. Energy Research Social Science, 78, Article 102123.

Sandberg, M., Klockars, K., & Wilén, K. (2019). Green growth or degrowth? Assessing the normative justifications for environmental sustainability and economic growth through critical social theory. Journal of Cleaner Production, 206, 133–141. https://doi.org/10.1016/j.jclepro.2018.09.175

Sarkodie, S. A., & Strezov, V. (2019). Effect of foreign direct investments, economic development and energy consumption on greenhouse gas emissions in developing countries. Science of the Total Environment, 646, 862–871. https://doi.org/10.1016/j.scitotenv.2018.07.365

Shafi, M., Szopik-Depczyńska, K., Cheba, K., Ciliberto, C., Depczyński, R., & Ioppolo, G. (2022). Innovation in traditional handicraft companies towards sustainable development. A systematic literature review. Technological and Economic Development of Economy, 28(6), 1589–1621. https://doi.org/10.3846/tede.2022.17085

Shahzad, M., Qu, Y., Rehman, S. U., & Zafar, A. U. (2022). Adoption of green innovation technology to accelerate sustainable development among manufacturing industry. Journal of Innovation & Knowledge, 7(4), Article 100231. https://doi.org/10.1016/j.jik.2022.100231

Skare, M., & Soriano, D. R. (2021). How globalization is changing digital technology adoption: An international perspective. Journal of Innovation & Knowledge, 6(4), 222–233. https://doi.org/10.1016/j.jik.2021.04.001

Sovacool, B. K., & Walter, G. (2019). Internationalizing the political economy of hydroelectricity: Security, development and sustainability in hydropower states. Review of International Political Economy, 26(1), 49–79. https://doi.org/10.1080/09692290.2018.1511449

Sudusinghe, J. I., & Seuring, S. J. S. (2020). Social sustainability empowering the economic sustainability in the global apparel supply chain. Sustainability, 12(7), Article 2595. https://doi.org/10.3390/su12072595

Waddell, T. (2021). The relationship between creativity, identity, place, and community resilience: The renaissance of Clarksdale, Mississippi, United States. Creativity Studies, 14(1), 175–186. https://doi.org/10.3846/cs.2021.12958

Wang, S., Hung, K., Li, M., & Qiu, H. (2021). Developing a customer loyalty model for guest houses in China: A congruity-based perspective. Tourism Review, 76(2), 411–426. https://doi.org/10.1108/TR-05-2019-0166

Wang, Y., & Shaw, D. (2018). The complexity of high-density neighbourhood development in China: Intensification, deregulation and social sustainability challenges. Sustainable Cities and Society, 43, 578–586. https://doi.org/10.1016/j.scs.2018.08.024

Westerlund, J., & Edgerton, D. L. (2008). A simple test for cointegration in dependent panels with structural breaks. Oxford Bulletin of Economics and Statistics, 70(5), 665–704. https://doi.org/10.1111/j.1468-0084.2008.00513.x

Wosiek, M. (2021). Unemployment and new firm formation: Evidence from Polish industries at the regional level. Equilibrium. Quarterly Journal of Economics and Economic Policy, 16(4), 765–782. https://doi.org/10.24136/eq.2021.028

Xiao, Q., Shan, M., Gao, M., Xiao, X., & Guo, H. (2021). Evaluation of the coordination between China’s technology and economy using a grey multivariate coupling model. Technological and Economic Development of Economy, 27(1), 24–44. https://doi.org/10.3846/tede.2020.13742

Yi, P., Li, W., & Zhang, D. (2021). Sustainability assessment and key factors identification of first-tier cities in China. Journal of Cleaner Production, 281, Article 125369. https://doi.org/10.1016/j.jclepro.2020.125369

Yodchai, N., Ly, P. T. M., & Tran, L. T. T. (2022). Co-creating creative self-efficacy to build creative performance and innovation capability for business success: A meta-analysis. Creativity Studies, 15(1), 74–88. https://doi.org/10.3846/cs.2022.13852

Zaidi, S., & Saidi, K. (2018). Environmental pollution, health expenditure and economic growth in the Sub-Saharan Africa countries: Panel ARDL approach. Sustainable Cities and Society, 41, 833–840. https://doi.org/10.1016/j.scs.2018.04.034

Zhang, A., Li, A., & Gao, Y. (2018). Social sustainability assessment across provinces in China: An analysis of combining intermediate approach with data envelopment analysis (DEA) window analysis. Sustainability, 10(3), 732–749.