Ecological footprint-technological innovations nexus: new empirical evidence from panel data estimations

The aim of this approach is to establish a relation between ecological footprint and technological innovations by using panel data techniques and taking Union for the Mediterranean member countries as the case. On the one hand, the Mediterranean region is an alarming region when it comes to environmental degradation; on the other hand, existing intergovernmental organizations such as the Union for the Mediterranean may provide a sound ground to take common action among all members against such a degradation. The approach takes eleven member countries from the Union for the Mediterranean (Bosnia and Herzegovina, France, Greece, Israel, Italy, Jordan, Morocco, Portugal, Spain, Tunisia, Türkiye) and observes them for the time frame 1992-2020. By using panel unit root tests and cross-sectional dependency tests, the data is being analyzed for further evaluation using mean group, common correlated effect mean group, and augmented mean group analysis. Regarding the observed variables, we could not identify a common trend for these eleven countries. For the sample of eleven countries, the impact of technological innovations was not significant, but country-level augmented mean group analysis results indicated that for Portugal, this impact was significant and positive.