Green Economy and Sustainable Development: The Role of Green Innovation in Driving Economic Development
DOI:
https://doi.org/10.61100/tacit.v3i3.407Keywords:
Green Economy, Green Innovation, Sustainable Development, Resource Efficiency, Economic GrowthAbstract
This study examines the role of green innovation in promoting economic development within the framework of the green economy and sustainable development. Using an integrative literature review, the study synthesizes theoretical perspectives and empirical findings concerning green innovation, resource efficiency, economic productivity, and environmental sustainability. The findings indicate that green innovation can improve resource utilization, strengthen productivity, and create new economic opportunities. However, these benefits are not automatic and depend on technological capabilities, financial accessibility, environmental regulations, and institutional readiness. Resource efficiency emerges as a potential mechanism linking green innovation with economic development, although productivity improvements do not necessarily reduce overall environmental pressures. By integrating the Natural Resource-Based View and environmental innovation perspectives, this study proposes a conceptual framework explaining these relationships. The findings emphasize the importance of aligning technological advancement with environmental protection, institutional support, and inclusive economic growth to achieve long-term sustainable development.
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