BITS Faculty Publications
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Item Linking information and communication technology diffusion with green technology innovation in emerging economies: Does globalization and green energy growth matters?(Emerald, 2025-06) Giri, Arun Kumar; Mohapatra, GeetilaxmiThe present study aims to explore the intricate dynamics that shape the development of green technology innovation (GTI) in emerging economies during the period spanning from 2000 to 2020. With a specific focus on the crucial factors of ICT diffusion, globalization, green energy and economic growth, this research aims to elucidate the complex dynamics that contribute to the development of sustainable technological advancements.Item ICT diffusion, energy consumption, institutional quality, and environmental sustainability in 20 emerging economies during 2005–2019(Springer, 2023-10) Giri, Arun KumarAlthough developing market economies have expanded substantially over the past three decades, rising pollution has prompted policymakers to question whether this growth is sustainable over the long term. The issue with these markets is that they have prioritized economic growth over environmental protection, even though the former is indispensable to the latter. Nevertheless, the expansion of the Internet, the energy industry, and the unregulated financial sector all contributed to environmental degradation. In light of this, the present study investigates the environmental sustainability of twenty emerging economies for the period 2005–2019, focusing on the impact of ICT diffusion, energy consumption, trade openness, and institutional quality on CO2 emissions. Using economic methodologies robust to CSD, such as Westerlund cointegration and system GMM, the findings confirm the pollution haven theory due to the leakage phenomena. A unit increase in ICT reduces CO2 emissions by 0.007, but its inability to improve energy efficiency raises environmental concerns. The findings indicate that the advantages of renewable sources are insufficient to offset the ecological harm produced by conventional energy production. The efficient use of renewable energy sources is contingent on the quality of institutional regulatory frameworks and the efficacy of regulation enforcement. As a result, if developing economies want to assure a sustainable economic future, they should focus on enhancing the quality of their institutions and investing more in ICTs. To enhance and maintain environmental quality, emerging economies must advocate for the adoption of trade-related ecological standards and energy efficiency measures.Item Does ICT diffusion reduce poverty? Evidence from SAARC countries(Wiley, 2023-03) Giri, Arun Kumar; Debata, ByomakeshThe present study aims to explore the relationship between ICT diffusion and poverty reduction in SAARC countries using panel data from 2005 to 2020. This study uses econometric techniques robust to cross-sectional dependence (CSD) including Pesaran's CSD tests; second-generation unit root test; Pedroni, Kao, Westerlund cointegration tests; CS-ARDL, Driscoll-Kraay (DK) standard error approach; and D&H causality test. The investigation is based on the ICT diffusion index constructed using principal component analysis (PCA). The study's major finding shows that ICT diffusion reduces poverty both in the long and short run, indicating the favorable impact of ICT on the development process in SAARC countries. Further, economic growth, financial development, and remittances all serve to minimize the poverty level. The causality test reveals bidirectional causation between ICT diffusion and poverty reduction. The study highlights the crucial role of ICT diffusion and selected economic variables in reducing poverty. The findings of the present research shall benefit policymakers to formulate appropriate policies and programs to improve the well-being of people and enhance macroeconomic performance, which impacts both the societal and environmental development of a country.Item ICT Diffusion, Financial Instability, and Shadow Economy: Panel Evidence from SAARC Economies(Springer, 2024-11) Debata, Byomakesh; Giri, Arun KumarThe relevance of digital finance to developing economies has been bolstered by the rapid invention of ICTs in emerging markets. While widespread use of digital finance may increase credit availability, it may also increase the likelihood of systemic risk in the financial system. Furthermore, emerging economies face the challenges of shadow economic growth, which affects taxable income revenue and hinders the chances for financial inclusion. This research investigates how ICT diffusion has affected the shadow economy and financial stability in the SAARC economies, in line with SDG 9 for 2030 by the United Nations. We employed the DCCE and DK standard error estimate methods, which are resistant to CSD, to measure the relationship for 2005–2019 on two model frameworks. The stationarity and cointegration among the variables are verified using the second-generation unit root test and the Westerlund cointegration analysis. The Westerlund test has confirmed cointegration between the dependent and the independent variables. Long-term estimation also suggests that a rise in the spread of ICTs can help slow the expansion of the shadow economy in SAARC nations. Nevertheless, it also heightens the possibility of systemic risks and exacerbates financial instability. Regarding control variables, the study revealed that economic growth and FDI slowed the expansion of the shadow economy, whereas unemployment and inflation sped it up. The research results will shed light on how digital money affects the shadow economy and advances financial inclusion and stability in developing countries.Item Does ICT diffusion make human development sustainable in the era of globalization? An empirical analysis from SAARC economies(Europe PMC, 2022-04) Giri, Arun Kumar; Debata, ByomakeshThis study intends to examine the impact of ICT diffusion, globalization, financial development, government effectiveness, and economic growth on sustainable human development (SHD) i.e., the development of human capital adjusted against the human ecological footprint, using 2005-2020 panel data of SAARC economies. The methodology involves econometric techniques robust to cross-sectional dependence (CSD) such as Pesaran’s CSD tests, second-generation unit root test, Pedroni, Kao, Westerlund cointegration tests, FMOLS, DCCE-MG, Driscoll-Kraay (DK) regression, and DH causality test. The findings of the cointegration tests demonstrate that the variables are cointegrated and have long run equilibrium relationship. The results from DCCE-MG and DK regression, indicate that ICT diffusion has a significant, favorable impact on SHD. Similarly, globalization and economic growth also have a significant positive impact on SHD. On the other hand, the impact of government effectiveness and financial development was found to be insignificant. In addition, the DH causality test results show the presence of a unidirectional causality running from ICT diffusion to SHD and globalization to SHD. A bidirectional causal link is detected between economic growth and SHD. Therefore, the study concludes that in order to resolve the undesirable consequences of environmental degradation on human development in the globalized era, it is essential for SAARC economies to tackle challenges for adequate ICT infrastructure, particularly: access and affordability. By eliminating these significant barriers to ICT access, CO2 emissions can be reduced, and human development can be sustained simultaneously. JEL code: C23, O15, 033, O40Item ICT diffusion, women empowerment, and sustainable development in SAARC countries(Emerald, 2022-08) Giri, Arun Kumar; Debata, ByomakeshThe main purpose of this paper is to analyze the role of information and communication technology (ICT) diffusion in women empowerment and in fostering the process of achieving the Sustainable Development Goals (SDGs) in South Asian Association for Regional Cooperation (SAARC) countries using panel data from 2005 to 2020.Item Leapfrogging into knowledge economy: Information and communication technology for human development(Australasian Journal of Information Systems, 2022) Giri, Arun Kumar; Debata, ByomakeshModern-day economic growth is focused on productivity and innovation, which puts information and technology integral to economic policy issues. In this context, ICT has a significant position as it increases efficiency, promotes information dissemination, and enhances innovation, resulting in a global shift in social and human development processes. The purpose of this research is to examine the significance of ICT diffusion in fostering human development in the South Asian Association for Regional Cooperation (SAARC) countries from 2005 to 2019. ICT diffusion is measured using a principal component analysis (PCA)- based composite index that combines telephone, mobile, broadband, and internet usage. The United Nations Development Programme (UNDP) created Human Development Index (HDI) serves as a proxy for human development. To adjust for any confounding bias, macroeconomic indicators, such as gross domestic product (GDP), inflation, and trade are also included. Utilizing econometric methods robust to cross-sectional dependence (CSD) such as the dynamic common correlated effect (DCCE) estimator, Driscoll-Kraay (DK) regression, and the Dumitrescu-Hurlin (DH) causality test, the study highlights the strong positive relationship between ICT and HDI. In addition, GDP boosts HDI owing to productivity gains. Similarly, trade expansion, in addition to its direct effects, also influences HDI by boosting economic growth. Inflation, on the other hand, has a negative impact on the HDI. Consequently, the study recommends a cohesive setting that unifies ICT with human development in this modern framework.Item The role of ICT diffusion in sustainable human development: an empirical analysis from SAARC economies(Springer, 2022-09) Giri, Arun Kumar; Debata, ByomakeshThis study intends to examine the impact of ICT diffusion, globalization, financial development, government effectiveness, and economic growth on sustainable human development (SHD) (i.e., the development of human capital adjusted against the human ecological footprint) using 2005–2020 panel data of SAARC economies. The methodology involves econometric techniques robust to cross-sectional dependence (CSD), such as Pesaran CSD tests; second-generation unit root tests; Pedroni, Kao, and Westerlund cointegration tests; FMOLS, DCCE-MG, and Driscoll-Kraay (DK) regressions; and DH causality tests. The findings of the cointegration tests demonstrate that the variables are cointegrated and have a long-run equilibrium relationship. The results from the DCCE-MG and DK regressions indicate that ICT diffusion has a significant favorable impact on SHD. Similarly, globalization and economic growth also have a significant positive impact on SHD. On the other hand, the impact of government effectiveness and financial development was found to be insignificant. In addition, the DH causality test results show the presence of a unidirectional causality running from ICT diffusion to SHD and globalization to SHD. A bidirectional causal link is detected between economic growth and SHD. Therefore, the study concludes that in order to resolve the undesirable consequences of environmental degradation on human development in the globalized era, it is essential for SAARC economies to tackle the challenges of adequate ICT infrastructure: particularly, access and affordability. By eliminating these significant barriers to ICT access, CO2 emissions can be reduced, and human development can be sustained simultaneously.Item Environmental effects of ICT diffusion, energy consumption, financial development, and globalization: panel evidence from SAARC economies(Springer, 2022-12) Giri, Arun KumarThe rising energy demand for information and communication technology (ICT) devices has piqued the interest of scholars and policymakers. Given that ICT devices are ubiquitous, any attempt to mitigate climate change should address the carbon footprint of the ICT sector. The present study examines the direct impact of ICT on the environment and the indirect impact through interaction with energy consumption, financial development, and globalization in SAARC economies from 2000 to 2020. Using econometric approaches robust to cross-sectional dependence, such as the Driscoll-Kraay estimator and the Dumitrescu-Hurlin causality test, the study found that ICT, renewable energy consumption, and globalization significantly reduce CO2 emission, whereas non-renewable energy consumption and financial development significantly increase emission. However, the interaction between financial development and ICT jointly reduces CO2 emissions. Similarly, renewable energy and globalization reduce emissions from increased ICT usage. The study also confirms the validity of the environmental Kuznets curve hypothesis for ICT diffusion. The causality test indicates bidirectional causality between ICT and CO2 emissions. Results suggest that SAARC economies can safely boost ICT and related applications to minimize emissions. They should also use renewable energy and green innovations in telecommunications to reduce their adverse environmental repercussions.