Figure 4
Left panel (A): The vertical axis is labeled “Predicted E W with positive 10 percent delta in Green Innovation,” ranging from negative 2 to 8 with an interval of 2. The horizontal axis is labeled “Time,” ranging from negative 0 to 30 with an interval of 10. Black dots mark predicted values for each time point, with blue vertical error bars indicating uncertainty. The curve for blue dots starts at (1, 0.65) and rises rapidly, then slows and plateaus just above (14, 5.52). The vertical bars follow the same trends, with their lower sides at (1, negative 0.9), (14, 3.35), and (31, 3.4), while the upper sides are at (1, 2.3), (14, 8), and (31, 8). Right panel (B): The vertical axis is labeled “Predicted E W with negative 10 percent delta in Green Innovation,” ranging from negative 8 to 2 with an interval of 2. The horizontal axis is the same as in (A). Black dots mark predicted values for each time point, with blue vertical error bars. The curve for blue dots begins at (1, negative 0.6), drops sharply, and flattens close to (14, negative 5.3). The vertical bars follow the same trends, with their lower sides at (1, negative 1.9), (14, negative 6.6), and (31, negative 6.8), while the upper sides are at (1, 0.8), (14, negative 3.7), and (31, negative 4). Note: All the numerical data values are approximated.(a), (b) The Impulse Response Plot for Green Innovation and Economic Welfare. It depicts a 10% increase and decrease in renewable energy and its impact on economic Welfare. The dots indicate the average prediction value. Conversely, the dark blue to light blue line specifies 75, 90 and 95% confidence intervals, respectively. Source(s): Authors’ computation