Influence of income inequality and patenting activity on the ecological footprint in Latin America: An analysis of panel data

Resumen

This paper studies the influence of income inequality and patenting activity on ecological footprint in selected Latin American countries from 1991 to 2018. In this research, econometric methods of panel data are applied (e.g., the new Moment Quantile Regression Method, the panel-corrected standard error (PCSE), and the fully modified ordinary least squares (FMOLS) method). The results demonstrate that renewable energy and patenting activity reduce environmental degradation while income inequality and economic growth increase it. Therefore, promoting renewable energy, the patenting activity of cleaner technologies, and environmental regulation to reduce environmental degradation are essential. In addition, it is urgent to design and apply income redistribution policies to reduce environmental pressure.