1,721,040 research outputs found
Modeling the dynamic Nexus among coal consumption, pollutant emissions and real income: empirical evidence from South Africa
No full textThis study explores the interaction among coal consumption, pollutant emissions, and real income for South Africa in a multivariate setting. To achieve this objective, annual frequency data spanning from 1965 to 2017 is used for analysis. A series of econometrics tests were conducted ranging from stationarity and non-stationarity tests for unit root properties of the variables under consideration. Empirical evidence finds support for the inverted U-shaped pattern between energy consumption and environmental degradation in South Africa. The Toda-Yamamoto Granger causality test shows a feedback causality between economic growth and carbon dioxide emissions, as well as between GDP and coal consumption. All these highlighted findings have inherent environmental implications. Based on these outcomes, policy directions such as diversification of the South Africa energy mix to renewables and cleaner energy sources and also the adoption of carbon capturing and storage techniques were suggested to engender a cleaner and friendlier environment
Significance of Air Transport to Tourism-Induced Growth Hypothesis in E7 Economies: Exploring the Implications for Environmental Quality
Get PDFThe study seeks to examine the significance of the tourism-induced growth hypothesis from the perspective of air transportation among seven emerging (E7) countries, including China, India, Brazil, Mexico, Russia, Indonesia, and Turkey. The combined impact of energy consumption and globalization was also factored into the analysis in order to draw cogent implications for environmental quality as energy demand in E7 economies continues to rise amidst growing urbanization in recent times. The study leverages on secondgenerational panel data estimators, namely cross-sectional autoregressive distributed lag, augmented Mean Group, and Dumitrescu-Hurlin Causality techniques. Having established a long-run equilibrium relationship among the outlined variables, the result validates the pertinent role of air transport in enhancing economic growth as a percent rise in airline passengers\u27 arrivals significantly enhances growth in the E7 economies by 0.77%. In addition, the feedback causality between the variables also strengthens the pivotal roles of air transport in economic growth, thereby giving credence to the tourism-led growth hypothesis (TLGH) in the E7. However, there are detrimental environmental implications for the E7 when considering the causal nexus between economic growth and the dynamics of carbon-inducing energy consumption among the countries. Hence, investments in clean energy and transport infrastructures are recommended to ensure a sustainable environment where the tourism industry can flourish
Energy Utilization and Output Dynamics in the Middle East and North Africa Countries : Is the Export- and Globalization-Led Hypothesis Valid?
No full text©2024 CRC Press. This is an Accepted Manuscript of a book chapter published by Routledge/CRC Press in Economic Trends and Sustainable Environmental Assessment on 30 August 2024, available online: https://doi.org/10.1201/9781003306214fi=vertaisarvioitu|en=peerReviewed
Energy consumption, economic policy uncertainty and carbon emissions; causality evidence from resource rich economies
No full textThe study uses the World Uncertainty Index to analyze the long-run relationship of economic policy uncertainty and energy consumption for countries with high geopolitical risk over the period 1996–2017. The Kao test shows a cointegration association between energy consumption, economic growth, geopolitical risk, economic policy uncertainty, and carbon dioxide (CO ) emissions. The results based on the Panel Pooled Mean Group-Autoregressive Distributed lag model (PMG-ARDL) show that energy consumption and economic growth contribute to (CO ) emissions. Additionally, there is a significant association between economic uncertainty and CO emissions in the long-run. The panel causality analysis by Dumitrescu and Hurlin (2012) shows a bidirectional relationship between CO emissions and energy consumption, economic policy uncertainty and CO emissions, economic growth and CO emissions, but a unidirectional causality from CO emissions to geopolitical risks. The findings call for vital changes in energy policies to accommodate economic policy uncertainties and geopolitical risks. 2 2 2 2 2 2
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No full textSUSTAINABLE DEVELOPMENTEmissions from several emerging economies currently constitute the largest contributions to the global carbon emissions levels thereby triggering concerns on the prospects for achieving global environmental sustainability-related goals (SGDs-13 and 11). Thus, this research examines whether technological innovation and renewables pose any moderating roles in the environmental quality advancements of rapidly emerging economies using the bloc of the emerging seven (E7) economies. The empirical framework of the study capitalizes on the strengths of the novel CS-ARDL technique in addressing the pitfalls of cross-sectional dependence (CD) from common factors that marred the understudied panel observations for the bloc between 1992 and 2018. The long-run estimations provide crucial insights into the environmental sustainability dynamics of the E7 bloc. First, the observed impacts of the rapid economic expansion alongside the fast-growing energy consumption were significantly detrimental to environmental sustainability over the period of study (1992-2018). Second, the duo of technological innovations and renewables place the E7 on an environmental sustainability path as they significantly dampen the CO2 emissions level in the bloc. Third, the inverted U-shape growth-emission conjecture of the EKC was confirmed for these groups of emerging economies within the innovation-environment nexus exploration. Fourthly, although both innovations and renewable energy consumption enhance sustainability, however, the magnitude of their desirable environmental impacts is quite low compared to the observed impacts of the pollution damages created by the observed energy consumption-driven economic growth expansion in the bloc over the years. Overall, the results are indicative that the E7 needs to do more in terms of investments in environmental-related technological innovations and the expansion of renewables in overall energy portfolios to harness the inherent benefits of the duo to position the bloc on a sustainability path. More recommendations for environmental sustainability enhancement from technological innovation and renewable perspectives were further enunciated for the E7 bloc in the main text
Synthesizing Urbanization And Carbon Emissions In Africa: How Viable Is Environmental Sustainability Amid The Quest For Economic Growth In A Globalized World?
Get PDFENVIRONMENTAL SCIENCE AND POLLUTION RESEARCHGlobal emission statistics show that Africa is among the least carbon-emitting continents. However, the rising drive for economic growth amid urbanization and globalization in recent years has continued to attract the attention of policymakers to the attendant potential environmental risks. Hence, using robust empirical techniques, this study examines the impacts of increasing urbanization alongside its interactions with energy portfolios on environmental prospects of 15 selected African countries including the most urbanized and leading oil producers in the continent of Africa. The results of the analysis produced insightful implications for achieving both environmental and economic sustainability for the understudied countries. Firstly, the trio of urbanization, economic globalization, and income levels aggravate environmental degradation among these countries as they were found to be essential drivers of carbon emission levels over the understudied period (1990-2015). Secondly, while urbanization significantly poses threat to environmental sustainability, the evidence obtained regarding its interaction with energy portfolios of the understudied countries differs. The significant detrimental environmental impacts of the interaction between urbanization and energy portfolios were only confirmed in the context of fossil energy consumption among the countries, while renewables exist as a significant decarbonization channel within the framework of the increasing level of urbanization among the countries. Thirdly, the study upholds the EKC conjecture. Hence, policymakers and authorities in Africa should capitalize on maximizing the benefits of the huge renewable resource potentials on the continent through adequate investments in green energy technologies for urban infrastructures toward the realization of sustainable development goals (SDGs 11 and 13)
Determinants of renewable energy consumption in agrarian Sub-Sahara African economies
Get PDFThe effect of ecological distortions and climate change issues have been at the forefront of the minds of policymakers and energy practitioners in recent decades. This concern is associated with the vision of the seventh and thirteenth Sustainable Development Goals that are centered on access to clean energy sources and mitigating climate change issues, as detailed in Vision 2030. To this end, the present study uses Pesaran’s Pooled Mean Group Auto Regressive Distributed Lag model to investigate the determinants of clean/non-conventional energy in the case of Sub-Saharan Africa. The empirical results show that a 1% increase in economic activity increases the level of renewable energy consumption by 0.128% in the short run. In the long-run, economic growth dampens the consumption of renewable energy by 0.402% over the investigated period. The reason for this peculiar result for the Sub-Saharan African economies could be attributed to the prevalent demand for conventional energy sources and the cost-related factor associated with clean energy technologies even when the economy (herein measured by Gross Domestic Product) is improving. Furthermore, the effect of energy (electricity from fossil fuel) also shows a statistically significant impact when trying to reduce the clean energy consumption. This arises from an expected trade-off effect. Regarding the causality analysis using the heterogeneous panel, the causality results present a one-way causality running from economic growth to renewable energy consumption. We also found there to be a feedback causality relationship between urbanization and renewable energy as well as agricultural value added and economic growth. Based on these findings, several policy decisions were prescribed for Sub-Saharan African economies such as the diversification of Sub-Saharan African economies energy to more renewable energy sources and the adoption of clean energy technologies that are reputed to be cleaner and environmentally friendly.© The Author(s) 2022. This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article's Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article's Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/.fi=vertaisarvioitu|en=peerReviewed
Spillover dynamics across price inflation and selected agricultural commodity prices
No full textThis article contributes to the existing empirical literature by examining the spillovers across price inflation and agricultural commodity prices for the case of Nigeria. To achieve this objective, we employ the Diebold and Yilmaz (Int J Forecast 28(1):57-66, 2012) spillover index. Subsequently, we examine the directional spillover, total spillover, and net spillover indexes. Further analysis to capture cyclical and secular movements was addressed with 40 months of subsamples via the rolling window analysis. Our empirical results, based on the monthly frequency data from January 2006 to July 2016 show that the total spillover effect was about 75%. This suggests a high interconnectedness of the selected agricultural commodity prices and inflation. Further empirical findings shows that inflation, sorghum, soybeans, and wheat were net receivers while cocoa, barley, groundnut, maize, rice were net givers. We find a negative net spillover for price inflation, implying a net positive spillover from commodity prices to price inflation. Based on these outcomes, several inherent policy implications for the government administrators, farmers, investors and all stakeholders abound. For instance, the need for government officials to insulate the agricultural market from externalities for optimum prices stability is pertinent
Do oil prices and exchange rates account for agricultural commodity market spillovers? Evidence from the Diebold and Yilmaz Index
Get PDFThis paper examines the nature of interconnectedness between the returns of the price of oil and foreign exchange on selected agricultural commodity prices. To do this, the authors leverage the novel methodology of a spillover index developed by Diebold and Yilmaz (2012) that reports predictive directional measurement of volatility spillovers. International Journal of Forecasting 28, no. 1: 57–66) that reports: (i) Net spillovers; (ii) Directional spillovers; (iii) Pairwise net spillovers; and (iv) Total spillover indices. This study also captures all secular and cyclical movements with the aid of rolling window analysis to ensure the robustness of the estimations. Empirical analyses are constructed based on monthly realised frequency data from 2006M1 to 2016M7. The empirical analysis from the full sample size shows that rice, sorghum, price inflation, a nominal effective exchange rate and oil price display weak pass-through among the investigated variables while banana, cocoa, groundnut, maize, soybean and wheat are net transmitters of spillover. Based on these revelations, several policy prescriptions for the agricultural commodity markets and their diverse responses to either exchange rate fluctuations or a dwindling oil price are suggested for Nigeria
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