Influence of green technology, tourism, and inclusive financial development on ecological sustainability: exploring the path toward green revolution

Abstract

This study demonstrates the linkages between green technological innovations, sustainable tourism, financial development, economic growth, and ecological sustainability using China's regional data from 2000 to 2019. The study applies the novel estimation technique, Quantile Autoregressive Distributive Lag (QARDL) approach to examine long-run and short-run relationships between the stated variables. The initial findings confirm non-linearity in the data verified through J-B test statistics. It approves the implication of QARDL estimation for exploring ecological sustainability trends over the study period. The study outcomes confirm that tourism and green technology innovation assists in reducing ecological footprints in China in the long run. Moreover, financial development and economic growth reflect a direct role towards more ecological footprints; therefore, the sustainability dimension has been missing both in financial development and growth. Furthermore, the results in the short run cover the same phenomenon and confirm that ecological innovations and tourism would help in sustaining the natural environment. The study outcomes demonstrate that government officials in China should specifically implement long-term policies to support the natural environment from adverse shocks of more financial development and economic growth.