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Öğe Another outlook into energy-growth nexus in Mexico for sustainable development: Accounting for the combined impact of urbanization and trade openness(Wiley, 2023) Adebayo, Tomiwa Sunday; Bekun, Festus Victor; Ozturk, Ilhan; Haseki, Murat IsmetThis study corroborates the importance of United Nations Sustainable Development Goal 7 (SDG-7), intended to ensure access to affordable, reliable, sustainable energy for all, and SDG-8, designed to promote decent work and sustainable economic growth. This article is motivated by the highlighted SDGs and empirically explores the long-run and causality relationship between energy consumption, urbanization, trade openness, and economic growth for annual frequency data from 1965 to 2021 for the case of Mexico. To this end, we leverage the use of fully modified ordinary least squares, dynamic ordinary least squares, and canonical regression estimation methods, while for the direction of causality, the gradual shift and wavelet coherence methods are used. According to the Autoregressive distributed lag (ARDL), the bounds test traces a long-run relationship between the outlined variables over the sampled period. Empirical evidence validates the energy-induced growth hypothesis. This result resonates with the causality analysis, where energy consumption drives economic growth one way in Mexico. This suggests that Mexico cannot embark on energy-conservative policies, as such actions will hurt economic progress. In addition, unidirectional causality is seen between urbanization, trade openness, and economic growth. These findings have far-reaching implications for economic growth and macroeconomic indicators in Mexico. More insights are highlighted in the concluding section.Öğe Coal consumption-environmental sustainability nexus in developed and developing major coal-consuming economies(Cell Press, 2024) Alhassan, Abdulkareem; Ozturk, Ilhan; AL-Zyoud, Mohammad Fahmi; Bekun, Festus VictorCoal is crucial for economic progress but equally baneful to the environment. Thus, the coal consumption-environmental sustainability nexus attracted the attention of both policymakers and scholars. This study evaluates the coal consumption-environment nexus in developed and developing countries over the period 2000-2020. We used panel data econometric techniques and the Augmented Anderson-Hsiao (AAH) two-step GMM estimator to assess and compare the impact of coal consumption on CO2. The findings revealed that the consumption of coal aggravates environmental pollution and hinders environmental sustainability. Thus, this study confirms the environment-destroying effect of coal consumption. However, the findings reveal that the negative consequence of coal consumption on the environment is more for the sample of developed countries than that of developing countries. This suggests that coal use harms the environment developed economies than the developing countries. Specifically, we found that the carbon emissions emanating from a one percent (1%) increase in coal consumption of the developed countries is about six-fold more than that of the developing countries. Therefore, this study suggests a gradual phase-out, rather than sudden phase-out, of coal consumption with greater emphasis on developed countries. The implementation of the coal phase-out policy and the removal of fossil fuel subsidies should start with the developed countries or be made more stringent in such countries than the developing economies. The developed countries should relinquish a greater proportion of their coal consumption than the developing countries.Öğe Does carbon emission react to oil price shocks? Implications for sustainable growth in Africa(Elsevier Sci Ltd, 2023) Okwanya, Innocent; Abah, Patricia O.; Amaka, Eje-Ojeka G.; Ozturk, Ilhan; Alhassan, Abdulkareem; Bekun, Festus VictorThis study examines the asymmetric effect of oil price changes on CO2 emissions for 30 African countries from 1987 to 2019. Using the panel non-linear autoregressive distributive lag (NARDL) methodology, the study reveals that an asymmetric relationship exists between oil price and CO2 emission as positive changes in the oil price are associated with a reduction in CO2 emissions. The negative change is also found to be associated with an increase in CO2 emission across the panel countries. In addition, in the long run, the degree of CO2 emission response to positive changes in oil price is more in oil-importing countries relative to oil-exporting countries. While CO2 emission response in oil-exporting countries responds more to negative changes in oil prices than in oil-importing countries. When we examine the response of GDP to a reduction in CO2 emission, we found that while a negative change in CO2 is associated with an increase in GDP in oil-importing countries, negative changes in CO2 emission significantly lead to a reduction in GDP in net oil-exporting countries. The study suggests strengthening the call for carbon emission reduction, especially in oil-exporting countries as oil price does not exhibit enough push factor towards the mitigation of CO2 emission in the continent.Öğe An empirical assessment of the tripartite nexus between environmental pollution, economic growth, and agricultural production in Sub-Saharan African countries(Springer Heidelberg, 2023) Ali, Ernest Baba; Gyamfi, Bright Akwasi; Bekun, Festus Victor; Ozturk, Ilhan; Nketiah, PrinceA lot of attention has been paid to environmental pollution worldwide, due to the increase in anthropogenic activities. Massive investment in non-renewable energy options raises questions regarding environmental sustainability and how to maximize food and non-food output while still preserving a healthy ecosystem. To this end, the present study explores the three-way nexus between economic growth, CO2 emission, and agriculture-value added will accounting for other control variables across a balanced panel of selected African economies from 1997 to 2020. Panel econometrics method of the generalized method of moments (two-step difference GMM) is used to obtain a robust result. From the present study, the environmental pollution model shows that economic growth significantly contributes to environmental pollution in Africa. Additionally, the food price index, capital, and FDI promote pollution, while agricultural production and labor decrease pollution. In the case of the economic growth model, the findings reveal that environmental pollution supports the growth-led pollution hypothesis. Also, the food price index and capital ameliorate economic growth, while foreign direct investments decrease economic growth. Finally, the agricultural production model indicates that economic growth increases agricultural production when the interaction term between GDPC and FDI is included in the model. In summary, the combination of explanatory variables, environmental pollution, capital, and foreign direct investment decreases agricultural production. On the contrary, the food price index and labor promote agricultural production in Africa. Furthermore, the study provides a lot of policies for authorities and stakeholders in Sub-Saharan African countries and other developing economies.Öğe The Moderating Role of Employment in an Environmental Kuznets Curve Framework Revisited in G7 Countries(Univ Pasundan, 2020) Gyamfi, Bright Akwasi; Bein, Murad A.; Ozturk, Ilhan; Bekun, Festus VictorAnthropogenic activities have resulted in environmental concerns due to the global consciousness for mitigating climate change issues. This awareness is emphasized in the sustainable development goals contained in the seventh and 13th targets. The study investigates the nexus between energy and growth while considering the moderating role of employment and its interaction with energy consumption in G7 countries for the period of 1980-2018. To achieve this objective, a carbon-income function is fitted to ameliorate the problems related to omitted variable bias. Empirical results indicate that all outlined variables are cointegrated over the investigated period, as reported by the Kao cointegration test. The study further validates the environmental Kuznets curve (EKC) hypothesis in the short-run. With emphasis on economic growth relative to environmental quality while in the long run, there is no statistical evidence in support of the EKC phenomenon. Furthermore, a 1% increase in energy consumption increases pollutant emission in the long run by 3.80%. Similarly, a positive elastic relationship is observed between trade and environmental degradation. This outcome is demonstrated in the causality results, which reveal a one-way causality running from trade to pollutant emission. These findings provide insights that can help policy formulations, including decoupling economic growth from pollutant emission and the need to adopt cleaner and eco-friendly technologies.Öğe Synthesizing the role of technological innovation on sustainable development and climate action: Does governance play a role in sub-Saharan Africa?(Elsevier, 2023) Ofori, Elvis Kwame; Ozturk, Ilhan; Bekun, Festus Victor; Alhassan, Abdulkareem; Gimba, Obadiah JonathanThe present study draws motivation from United Nation Sustainable Development Goals (UNSDGs) and its impact by 2030. To this end, the current study explored the nexus between energy consumption (SDG-7), climate action (SDG-13), and economic growth (SDG-8) while controlling for role of government apparatus such as like voice of accountability, rule of law, control of corruption and technology innovation in a balanced panel of 46 Sub-Saharan African (SSA) economies from 1996 to 2020. For a robust study, the present study leverages on secondgeneration estimator such as cross-sectional SUR, two-stage least square (2SLS), 2SLS is referred to as the superior estimators to traditional pool OLS due to its capabilities of including endogenous regressors and efficiency. Empirical findings show that all the coefficients associated with mobile subscription (lnTI) are negative and statistically significant at 1% level of significance (P-value <0.01). This indicates that higher (lower) mobile cellular subscriptions results in the reduction (rise) of renewable energy consumption, implying that technological innovation in terms of the expansion of mobile cellular subscription hinders access to clean energy in SSA. Conclusively, the present study presents interesting outcomes concerning technology innovation, Governance, and SDGs goal 7 (clean energy) and 13 (climate action) in Sub-Saharan African blocs. Policy strategies are outlined in the concluding section.Öğe Unravelling the role of financial development in shaping renewable energy consumption patterns: Insights from BRICS countries(Elsevier, 2024) Yadav, Ashutosh; Bekun, Festus Victor; Ozturk, Ilhan; Ferreira, Paulo Jorge Silveira; Karalinc, TurgayIn line with the pursuit of clean and affordable energy, our study contributes to the United Nations Sustainable Development Goals (UNSDGs-7 and -13) and the global fight against climate change by offering evidence-based insights. We conducted a panel analysis of BRICS (Brazil, the Russian Federation, India, China, and South Africa) economies to investigate the relationship between financial development and renewable energy utilization. Our empirical findings highlight a positive statistical association between economic growth and renewable energy consumption, indicating that higher economic growth correlates with increased renewable energy adoption. Similarly, significant positive relationships are observed between the consumer price index and domestic credit with renewable energy consumption. Moreover, our study also uncovers a counterintuitive relationship between foreign direct investment and renewable energy consumption. These results provide valuable insights into the determinants of renewable energy consumption in BRICS countries. From a policy perspective, we advocate for robust strategies to promote the adoption and utilization of renewable energy sources alongside the implementation of policies encouraging the uptake of clean technologies. Such measures can spur economic growth and contribute to achieving low-carbon targets and sustainability goals within the BRICS economies. Practical steps, including incentives like feed-in tariffs and subsidies, can further enhance the cost-effectiveness of renewable energy adoption in the investigated bloc.