Impact of environmental innovation on country socio-economic development

Global warming and deterioration of the ecological situation trigger necessity innovation development implementation to reduce negative impact industry on environment. It is considered that oil one most environmentally damaging industries. Therefore, environmental in becomes crucial. This paper dedicated identifying country socio-economic parameters countries specialized extraction production. The article realized a bibliometric analysis with VOSviewer v.1.6.16 identify critical contextual directions scientific research innovation. In paper, it developed tested hypothesis about positive influence (CO2 emissions from manufacturing industries construction, electricity production sources, employment industry, value added are chosen as proxies innovation, while GDP growth, current account balance, foreign direct investment gross fixed capital formation – development). Under testing hypothesis, several procedures: 1) correlation aimed at identification strongly correlated explanatory variables their elimination avoid multicollinearity problem; 2) comprehensive descriptive statistics data sufficiency; 3) model specification Hausman test (random or effects model); 4) regression modeling characteristics its results (in this research, four models different dependent variables). Technically all these procedures Stata 12/SE software. Research based for 9 specializing production, such Azerbaijan, Canada, Brazil, Russian Federation, Saudi Arabia, Oman, Romania, Republic Yemen, Islamic Iran. time horizon 2005-2019 (or available last year). Bibliometric panel allows concluding oil-producing countries' improves enterprises' competitiveness stimulates growth countries.