Financial Efficiency and Its Impact on Renewable Energy Demand and CO2 Emissions: Do Eco-Innovations Matter for Highly Polluted Asian Economies?

The analysis aims to examine the impact of eco-innovation and financial efficiency on CO2 emissions renewable energy consumption in highly polluted Asian economies, including China, India, Russia, Japan. For empirical analysis, we have applied ARDL pooled mean group (ARDL-PMG) model. long-run estimated coefficient environmental innovations is positively significant both models negatively These results imply that help facilitate reduce emissions. On other side, estimates development are insignificant models. However, institution markets models, implying institutions market increase decrease