Does technological innovation reduce CO2 emissions?Cross-country evidence

Based on the data of BP Statistical Review of World Energy, KOF Globalization Index, and the World Development Indicators, this paper explores the impact of technological innovation on CO 2 emissions in a panel of 96 countries over the period 1996–2018 with spatial econometric models. First, both CO 2 emissions and R&D intensity show significant spatial correlation across countries, and thus spatial econometric models are more suitable for research. Second, technological innovation has no significant mitigation effect on CO 2 emissions globally. However, group-based studies show that technological innovation in high-income, high-technology, and high-CO 2 emission countries can significantly reduce CO 2 emissions in neighboring countries, while R&D intensity in other countries even increase CO 2 emissions. Third, the higher the level of globalization is in a country, the more obvious the effect technological innovation has on reducing CO 2 emissions. Among them, the moderating effect of political globalization is the most obvious and even low-income, low-technology, and low-CO 2 emission countries can benefit from it; the “pollution haven” in economic globalization and the guidance of environmental protection awareness in social globalization deserve more attention. Therefore, countries should pay attention to the spillover effects of technological innovation, improve the corresponding level of globalization according to their own characteristics, and ultimately enhance environmental quality through international cooperation.