Investigating a connectedness between green innovation and ocean health performance in Vietnam

The blue economy (BE) development has recently grown in importance, but scholars have kept silent on their determinants, especially in developing countries. This article focuses on the role of green innovation (EI). Utilizing the R² decomposed linkage method, our investigation aims to delineate connections, particularly differentiating between contemporaneous and lagged linkages. This innovative approach is employed to examine the return transmission mechanism among the Ocean Health Index (OHI), green innovation (EI), nonrenewable energy (NONRENEW), and CO₂ emissions (CO2). The dynamic total linkage, subject to temporal variation, is contingent on economic events. Our findings emphasize the heightened influence of lagged linkage prevailing over contemporaneous linkage for all four variables. As observed before 2019, ocean health was acknowledged for its prominent role as a net receiver. Subsequently, ocean health was recognized as a net receiver in contemporaneous dynamics, while its significant impact as a net transmitter in lagged linkage persisted. The results have important policy implications for governments in promoting the use of green innovation to enhance blue health performance in Vietnam.