The carbon dioxide neutralizing effect of energy innovation on international tourism in EU-5 countries under the prism of the EKC hypothesis

Mitigation of carbon dioxide emissions has become an utmost important global agenda, keeping into consideration the associated environmental hardships. As a result, it is important to unearth the factors which can neutralize carbon emissions to transform the world economy into a low-carbon one. Against this backdrop, this study explores the carbon dioxide neutralizing effects of economic growth, international tourism, clean energy promotion, and technological innovation in the context of five European Union (EU-5) nations during the 1990-2015 period. This study's main contribution is in terms of its approach to test the interaction effect between foreign direct investment (FDI) inflows and energy innovation on carbon dioxide emissions. The econometric analysis chronologically involves the employment of unit root, cointegration, causality, and regression…