Title: The effect of nanotechnology in the energy sector on economic growth and sustainable development

Authors: Zahra Fotourehchi; Amir Ali Farhang

Addresses: Department of Economics, Faculty of Social Sciences, University of Mohaghegh Ardabili, P.O. Box 56199-11367, Ardabil, Iran ' Department of Economics, Payame Noor University, Iran

Abstract: In the present work, the effect of nanotechnology in the energy sector on sustainable development and economic growth is compared in 28 developed and developing countries for a period of time 2015-2019. Empirical results indicate that the nanotechnology index in the energy sector positively and significantly affects economic growth and sustainable development. This impact is stronger and greater in developed countries compared to developing ones. Moreover, the stronger effect of nanotechnology on sustainable development than economic growth in the energy sector indicates the significant role of nanotechnology in developing innovative approaches for creating novel products, replacing current manufacturing equipment, reproducing new materials, and improving the structure of chemicals. This also includes reducing the consumption of materials, storage and transfer of energy, and reducing damage to the environment and its protection. These results provide useful information to sustain development globally.

Keywords: nanotechnology; energy sector; economic growth; EG; sustainable development.

DOI: 10.1504/IJGW.2023.128841

International Journal of Global Warming, 2023 Vol.29 No.1/2, pp.49 - 65

Received: 16 Nov 2021
Accepted: 06 Apr 2022
Published online: 07 Feb 2023 *

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