Integrating GMM and TODIM Methods into Macroeconomic Assessments: An Analysis on G20 Countries

<p dir="ltr">In this study, the economic impacts of clean technologies are examined from two different perspectives. While System GMM analysis measures the direct impact of clean technology on GDP, TODIM analysis provides a broader macroeconomic performance assessment. This dual approach aims to comprehensively assess the economic impacts of clean technologies by addressing the issue from both specific (GDP-oriented) and general (macroeconomic performance) perspectives. The diffusion of clean technologies, increased investments in renewable energy sources, exports of high-tech products and increased trade openness contribute to the increase in GDP in the context of economic growth. Population density and industrial value added are among the critical factors that play an effective role in the efficiency of growth. The findings of the study show that the widespread use of clean technologies reduces fossil fuel consumption and minimizes energy costs. Lower energy costs and reduced production costs contribute to increased economic efficiency, which in turn improves the overall GDP situation and growth potential. The system analysis using the Generalized Method of Moments (GMM) reveals that clean technologies have significant and important effects on GDP. Moreover, evaluations using the Normalized Maximum Values (NMV) based TODIM method, a Multi-Criteria Decision Making (MCDM) method, support the positive effects of clean technologies on economic performance. These results point to the potential of clean technologies to balance economic growth.</p>