14 results on '"Bekun, Festus Victor"'
Search Results
2. Beyond the environmental Kuznets curve: Do combined impacts of air transport and rail transport matter for environmental sustainability amidst energy use in E7 economies?
- Author
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Gyamfi, Bright Akwasi, Bekun, Festus Victor, Balsalobre-Lorente, Daniel, ONIFADE, Stephen Taiwo, and Ampomah, Asiedu Benjamin
- Published
- 2022
- Full Text
- View/download PDF
3. Revisiting the pollution haven hypothesis within the context of the environmental Kuznets curve
- Author
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Bekun, Festus Victor, Gyamfi, Bright Akwasi, Etokakpan, Mfonobong Udom, and Çakır Gündoğdu, Burçin
- Subjects
General Energy ,Strategy and Management ,Renewable energy Turkey ,Environmental sustainability ,Pollution haven hypothesis ,Carbon-reduction strategies - Abstract
Purpose This purpose of this study is to explore the impact of global trend of economic integration and interconnectedness which has drawn the attention of world economies and their implications on trade inflow. This trajectory has its impact, either positive/negative, on key macroeconomic indicators, to say the least on environmental sustainability, especially emerging economies. To this end, the need to explore the connection between foreign direct investment (FDI) inflow and energy consumption amidst the wave of economic globalisation is timely and pertinent for the case of Turkey. Design/methodology/approach This study seeks to explore the interaction between the outlined variables in a carbon-income framework for annual time series data from 1970 to 2016. A series of econometrics strategies was used consisting of unit root tests to examine the stationarity properties of the highlighted series. Subsequently, Pesaran’s Bounds testing technique is used to explore the long-run equilibrium relationship between the highlighted variables in conjunction with the Johansen cointegration test. For long-run regression coefficients, Pesaran’s autoregressive distributed lag and dynamic ordinary least squares methodology are used, and innovative accounting approaches are used to explore the responsiveness of each variable on another. Findings Empirical results validate the pollution haven hypothesis (PHH) in the long run for the case of Turkey. Thus suggesting that FDI inflow induced environmental degradation in Turkey. Additionally, this study observed that renewable energy, on the contrary, improves the quality of the environment. This study also affirms the presence of the environmental Kuznets curve phenomenon, indicating that Turkey, at its early stage of economic trajectory, emphasis is on economic growth rather than environmental quality. This suggests a need for more deliberate action(s) by the government administrators to pursue cleaner FDI inflow and energy technologies and strategies to foster a clean environment in Turkey and a cleaner ecosystem at large. Originality/value This study is unique in its choice of variables which is in line with the United Nations Sustainable Development Goals (SDGs) agenda to be achieved by 2030 and is very limited in the extant literature. From the economic perspective, the effect of the PHH is of interest especially to ascertain the extent the interplay among the variables has on the economy of Turkey. The empirical insights on PHH hypothesis have received less documentation in the extant literature especially for emerging economy like Turkey. Thus, this study seeks to revisit this theme for Turkey with aim to presents environmentally sustainable strategies without compromise for economic growth. Thus, this study seeks to revisit this theme.
- Published
- 2023
4. Can information and communication technology and institutional quality help mitigate climate change in E7 economies? An environmental Kuznets Curve extension
- Author
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Gyamfi, Bright Akwasi, Ampomah, Asiedu B., Bekun, Festus Victor, and Asongu, Simplice
- Subjects
ICT ,ddc:330 ,institutional quality ,E7 economies ,economic globalization, panel econometrics ,environmental sustainability ,renewable energy transition ,carbon-reduction - Abstract
Understanding the role of information communication and technology (ICT) in environmental issues stemming from extensive energy consumption and carbon dioxide emission in the process of economic development is worthwhile both from policy and scholarly fronts. Motivated on this premise, the study contributes to the rising studies associated with the roles economic growth, institutional quality and information and communication technology (ICT) have on CO2emissionin the framework of the 21st Conference of the Parties (COP21) on climate convention in Paris. Obtaining data from the emerging industrialized seven (E7) economies (China, India, Indonesia, Russia, Mexico, Brazil and Turkey) covering annual frequency from 1995 -2016 for our analysis achieved significant outcome. From the empirical analysis, economic globalization and renewable energy consumption both reduce CO2 emissions while ICT, institutional quality and fossil fuel contribute to the degradation of the environment. This study affirms the presence of an Environmental Kuznets Curve (EKC) phenomenon which shows an invented U-Shaped curve within the E7 economies. On the causality front, both income and its square have a feedback causal relationship with carbon emissions while economic globalization, institutional quality, ICT and clean energy all have a one-way directional causal relationship with CO2 emissions. Conclusively, the need to reduce environmental degradation activities should be pursued by the blocs such as tree planting activities to mitigate the effect of deforestation. Furthermore, the bloc should shift from the use of fossil-fuel and leverage on ICT to enhance the use of clean energy which is environmentally friendly.
- Published
- 2022
5. Environmental degradation, energy consumption and sustainable development: Accounting for the role of economic complexities with evidence from World Bank income clusters.
- Author
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Adedoyin, Festus Fatai, Nwulu, Nnamdi, and Bekun, Festus Victor
- Subjects
SUSTAINABLE consumption ,ENVIRONMENTAL degradation ,SUSTAINABLE development ,SUSTAINABILITY ,CARBON emissions ,ENERGY consumption ,ENVIRONMENTAL auditing - Abstract
The anthropogenic consequences of renewable and non‐renewable energy consumption, economic growth, and air transport have been assessed enormously in the literature. However, given the complexities in many economies of the world today, it is important to reassess the ecological concerns of these factors in light of the Environmental Kuznets Curve framework. Therefore, this current study investigates the global assessment using data from World Bank Development database from 1995 to 2016. Evidence from the method employed, sys‐GMM, revealed that the economic complexities index increases the carbon emission in low‐income groups while it significantly decreases the carbon emission for upper‐middle and high‐income groups. For the combined group, the EKC hypothesis holds, and ECI significantly hampers carbon emissions. For the other variables, it is worthy of note that (1) economic growth contributes to the high carbon contents across the income group especially for low‐income, upper‐middle‐income and high‐income group; (2) the effects of air transport on carbon emission is positive for lower‐middle‐income and high‐income group and negative for the upper‐middle‐income group; (3) the use of coal rents and energy use leads to high release of carbon contents across all the income groups; and (4) a significant increase in the utilization of energy leads to increase in carbon contents except for lower‐income group, it leads to a decrease. From this empirical assessment, vital energy policy directions are suggested. [ABSTRACT FROM AUTHOR]
- Published
- 2021
- Full Text
- View/download PDF
6. Race to carbon neutrality in South Africa: What role does environmental technological innovation play?
- Author
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Bekun, Festus Victor
- Subjects
- *
ENVIRONMENTAL quality , *ENERGY consumption , *SUSTAINABLE development , *SUSTAINABILITY , *CARBON offsetting , *POLLUTION , *TECHNOLOGICAL innovations , *CARBON nanofibers - Abstract
Governments worldwide have prioritized carbon reduction and neutrality to address the escalating threat of climate change. These goals are in line with the United Nations Sustainable Development Goals (UNSDG-13). These goals stress taking action on climate change to lessen the bad effects of human activities and using fossil fuels for energy. To this end, the present study investigates the connection between conventional energy usage, agricultural practices, economic growth, and their impact on environmental sustainability in South Africa. Additionally, it explores the role of renewable energy consumption and environmental technological innovation in mitigating these effects. To achieve the study objectives, a carbon-income function is fitted with an annual frequency data from 1975 to 2020. The present study leverages on Pesaran's Autoregressive distributed lag (ARDL) method and for robustness analysis the dynamic ARDL simulations method to simultaneously explore the short and long-run coefficients of the study's outlined variables. Empirical analysis, confirmed by bounds testing for cointegration, reveals a long-term equilibrium relationship among the variables considered. Notably, economic growth, fossil fuel energy consumption, and agricultural activities have adverse effects on environmental sustainability in South Africa, indicating a trade-off between economic growth and environmental quality. Dynamic ARDL simulations provide further evidence of an Environmental Kuznets Curve (EKC) phenomenon. However, renewable energy consumption and environmental technological innovation positively influence environmental quality. These findings highlight the imperative for South Africa and its stakeholders to adopt green growth policies and transition to cleaner energy alternatives. • This study explored nexus between environmental pollution, economic growth, and environmental technological innovation in South Africa • Utilisation of Autoregressive distributed lag (ARDL) estimators were employed • Agricultural activities dampens environmental sustainability in South Africa • Green growth policies should be pursued in South Africa energy mix [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
7. Beyond the environmental Kuznets Curve in E7 economies: Accounting for the combined impacts of institutional quality and renewables.
- Author
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Bekun, Festus Victor, Gyamfi, Bright Akwasi, Onifade, Stephen Taiwo, and Agboola, Mary Oluwatoyin
- Subjects
- *
KUZNETS curve , *ENVIRONMENTAL quality , *EMERGING markets , *EMISSIONS (Air pollution) , *CLEAN energy , *ENVIRONMENTAL auditing - Abstract
This study explores the applicability of conventional environmental Kuznets curve (EKC) with an extension for the case of emerging industrialized economies, comprised of China, India, Brazil, Mexico, Russia, Indonesia, and Turkey, for annual time frequency from 1995 to 2016. This study is distinct from that already documented in the extant literature by extending the traditional EKC phenomenon by accounting for the combined impact of institutional quality and renewables in E7 blocs. The countries under review are known to be emerging and still at their scale stage of their growth path. As such, the need to explore the theme is pertinent for stakeholders. Empirical framework is built on second-generational panel econometrics strategies that consist of Augmented Mean Group, Common Correlated Effects Mean Group estimator, Driscoll-Kraay and Dumitrescu and Hurlin Causality analysis, which is superior to first-generation methods. Our study validates the EKC phenomenon in E7, i.e., where emphasis is placed on economic expansion relative to the quality of the environment. The EKC phenomenon is validated by the deteriorating effect of fossil-fuel energy consumption in the bloc. However, renewables are seen as a panacea to reduce pollution emission as renewable energy exerts a negative and statistical relationship with CO 2 emission over the sampled period. Additional results show that weak institution also dampens the quality of the environment in E7. These outcomes are suggestive to policy makers to reinforce their commitment to the quality of the environment in terms of growth and energy transition from fossil fuel to clean energy sources. Further policy prescriptions are presented in the concluding section. • We explore the impacts combined impact of institutional quality and renewables on the environmental quality in E7 economies. • We applied a battery of second-generation panel econometrics methods. • EKC phenomenon is validated in E7 bloc. • Weak institutions dampen the environmental quality of the E7 economies. • Renewables shows strong evidence to improve the quality of the environment. [ABSTRACT FROM AUTHOR]
- Published
- 2021
- Full Text
- View/download PDF
8. Fresh Validation of the Low Carbon Development Hypothesis under the EKC Scheme in Portugal, Italy, Greece and Spain.
- Author
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Balsalobre-Lorente, Daniel, Leitão, Nuno Carlos, and Bekun, Festus Victor
- Subjects
VECTOR error-correction models ,QUANTILE regression ,CARBON emissions ,CLIMATE change mitigation ,KUZNETS curve ,ENVIRONMENTAL degradation ,SUSTAINABILITY - Abstract
The present study is in line with the United Nations Sustainable Development Goals (UN-SDGs) that address pertinent global issues. This study focuses on the need for access to clean and affordable energy consumption, responsible energy consumption, sustainable economic growth, and climate change mitigation. To this end, this paper evaluates the relevance of the renewable energy sector on the environmental Kuznets curve (EKC) framework in Portugal, Italy, Greece, and Spain for the period 1995–2015. As an econometric strategy, we adopt the use of panel data over the highlighted countries. In the first step, we apply the unit root test recommended by Levin, Lin, and Chu in conjunction with ADF-Fisher, and Phillips-Perron for robustness and consistency. We found that the variables used in this study are integrated I (1) in the first difference. In the second step, we apply the Pedroni cointegration test, and Kao Residual cointegration test, and we observe that the variables are cointegrated in the long run. The generalized least squares (GLS), the panel fully modified least squares (FMOLS), ordinary least squares robust (OLS), and panel quantile regression are considered in this research. The econometric results validate the assumption of the environmental Kuznets curve, i.e., and there is a positive correlation between income per capita and a negative effect of squared income per capita on carbon dioxide emissions. In contrast, we observe that renewable energy reduces CO
2 emissions. Finally, we also find a direct connection between the urban population and the environmental degradation in the examined blocs. These results show that in Portugal, Italy, Greece, and Spain, more is required to achieve environmental sustainability in the respective countries growth trajectory. Further policy prescriptions are appended in the concluding section of this study. [ABSTRACT FROM AUTHOR]- Published
- 2021
- Full Text
- View/download PDF
9. Renewables as a pathway to environmental sustainability targets in the era of trade liberalization: empirical evidence from Turkey and the Caspian countries
- Author
-
Mehmet Alagöz, Festus Victor Bekun, Stephen Taiwo Onifade, Savaş Erdoğan, and Bekun, Festus Victor
- Subjects
Turkey ,Health, Toxicology and Mutagenesis ,010501 environmental sciences ,01 natural sciences ,EKC ,Globalization ,Turkey and Caspian countries ,Economics ,Trade ,Environmental Chemistry ,Environmental sustainability ,Renewable Energy ,Empirical evidence ,CO2 emission reduction ,Free trade ,Environmental quality ,0105 earth and related environmental sciences ,Sustainable development ,business.industry ,General Medicine ,Energy consumption ,International economics ,Carbon Dioxide ,Sustainable Development ,Pollution ,Renewable energy ,Sustainability ,Economic Development ,business - Abstract
The quest for improved environmental quality through low-carbon emission has been explored in this study in the wake of the growing call for a transition to renewable energy use amidst widening trade relations between Turkey and the countries in the Caspian region including Azerbaijan, Iran, Kazakhstan, Russia, and Turkmenistan. This study draws strength from the United Nations Sustainable Development Goals (UN-SDGs) and their impact by 2030. These SDGs encompass pertinent targets on responsible energy consumption (SDG-12), access to clean and affordable energy (SDG-7), and climate change action (SDG-13). Empirical evidence from the dynamic ordinary least squares (DOLS) technique corroborated by the fully modified ordinary least squares (FMOLS) technique shows that a percent rise in renewable energy consumption level significantly abates carbon emission among these countries by about 0.26% while growing globalization vis-à-vis a percent increase in openness to trade significantly hampers environmental quality via inducement of carbon emission level by 0.32%. Extended findings from the Granger causality analysis corroborate the significance of the long-run coefficients with regard to the double-edged benefits of renewable energy consumption in enhancing both environmental quality and income levels through lower carbon emission and sustainable economic growth stimulations among the countries. The study confirmed the inverted U-shape relation between income growth and environmental deterioration, thus validating the EKC hypothesis for Turkey and the Caspian countries. This suggests that both blocs are still at the scale stage of their growth trajectory, where the emphasis is focused on increasing income level relative to environmental sustainability. As such, important policy measures were provided in the concluding section of this study.
- Published
- 2021
10. Environmental degradation, energy consumption and sustainable development: Accounting for the role of economic complexities with evidence from World Bank income clusters
- Author
-
Festus Victor Bekun, Nnamdi Nwulu, Festus Fatai Adedoyin, and Bekun, Festus Victor
- Subjects
Natural resource economics ,Strategy and Management ,environmental degradation ,Geography, Planning and Development ,coal rents ,010501 environmental sciences ,Management, Monitoring, Policy and Law ,01 natural sciences ,energy use ,Energy policy ,Kuznets curve ,environmental policy ,0502 economics and business ,Economics ,air transportation ,environmental sustainability ,income clusters ,Business and International Management ,economic complexity index ,Environmental degradation ,0105 earth and related environmental sciences ,Sustainable development ,05 social sciences ,emissions ,Energy consumption ,economic growth ,Greenhouse gas ,Economic complexity index ,Sustainability ,050203 business & management - Abstract
The anthropogenic consequences of renewable and non-renewable energy consumption, economic growth, and air transport have been assessed enormously in the literature. However, given the complexities in many economies of the world today, it is important to reassess the ecological concerns of these factors in light of the Environmental Kuznets Curve framework. Therefore, this current study investigates the global assessment using data from World Bank Development database from 1995 to 2016. Evidence from the method employed, sys-GMM, revealed that the economic complexities index increases the carbon emission in low-income groups while it significantly decreases the carbon emission for upper-middle and highincome groups. For the combined group, the EKC hypothesis holds, and ECI significantly hampers carbon emissions. For the other variables, it is worthy of note that (1) economic growth contributes to the high carbon contents across the income group especially for low-income, upper-middle-income and high-income group; (2) the effects of air transport on carbon emission is positive for lower-middle-income and high-income group and negative for the upper-middle-income group; (3) the use of coal rents and energy use leads to high release of carbon contents across all the income groups; and (4) a significant increase in the utilization of energy leads to increase in carbon contents except for lower-income group, it leads to a decrease. From this empirical assessment, vital energy policy directions are suggested.
- Published
- 2021
11. The anthropogenic consequences of energy consumption in E7 economies: Juxtaposing roles of renewable, coal, nuclear, oil and gas energy: Evidence from panel quantile method
- Author
-
Festus Victor Bekun, Divine Quazie Agozie, Bright Akwasi Gyamfi, Murad A. Bein, Festus Fatai Adedoyin, and Bekun, Festus Victor
- Subjects
Energy utilization ,Regulatory quality and E7 countries ,020209 energy ,Strategy and Management ,Environmental pollution ,02 engineering and technology ,Industrial and Manufacturing Engineering ,0202 electrical engineering, electronic engineering, information engineering ,Economics ,Coal ,Environmental sustainability ,Coal rents ,0505 law ,General Environmental Science ,Consumption (economics) ,Renewable Energy, Sustainability and the Environment ,business.industry ,05 social sciences ,Fossil fuel ,Building and Construction ,Energy consumption ,Renewable energy ,Real gross domestic product ,Economy ,050501 criminology ,business ,Energy source ,CO2 pollution - Abstract
The emerging industrialized seven (E7) economies are not excluded from the global warming issues which is a major problem for most economies. The E7 member countries have partaken in policies to mitigate against global warming in terms of decoupling CO2 emission from economic growth trajectory in the highlighted economies. It is on this premise that the present study is motivated to consider the connection among economic growth, pollutant emissions, coal rent while accounting for the role of other co-variates such as CO2 damage and energy from a nuclear energy source, oil gas energy between 1990 and 2016 on an annual frequency. This study adopts the use of panel ordinary least squares alongside panel quantile regression to explore the coal rent-energy and environment nexus. The empirical result shows a positive and significant effect of both real GDP and coal rent on CO2 emissions. More precisely, a 1% increase in GDP growth increases pollution emission by 0.400% while for coal rent, an increase in coal consumption dampens environmental quality by 0.088% as reported by the panel regression which is resonated by the quantile regression estimations at different tails of the data. Nevertheless, we observe that 0.95 percentile GDP growth strongly contributes to environmental pollution while at the median tail i.e. 0.5 percentile renewable energy consumption dampens the adverse effect of environmental degradation. Additionally, renewable energy, on the other hand, was found a negative and significant impact on CO2 emissions in E7 countries as a 1% increase in renewable energy consumption improves environmental quality by 0.588% Moreover, the estimated results indicate that regulation of coal consumption through the rent in addition to the cost of carbon damage will further increase the CO2 emissions in E7 countries. This study implies that putting stringent regulations on coal consumption as it concerns the increasing cost of carbon damage will not be of help to environmental sustainability within the E7 economies. The adoption of renewable energy consumption, nuclear energy, oil energy will reduce CO2 emissions in E7 countries. Thus, suggesting a paradigm shift for low-carbon energy sources which are more environmentally friendly.
- Published
- 2021
12. Fresh Validation of the Low Carbon Development Hypothesis under the EKC Scheme in Portugal, Italy, Greece and Spain
- Author
-
Daniel Balsalobre-Lorente, Nuno Carlos Leitão, Festus Victor Bekun, and Bekun, Festus Victor
- Subjects
Renewable energy ,Control and Optimization ,020209 energy ,Population ,Energy Engineering and Power Technology ,02 engineering and technology ,Generalized least squares ,environmental Kuznets curve ,Carbon dioxide emissions ,010501 environmental sciences ,lcsh:Technology ,01 natural sciences ,carbon-reduction ,climate change mitigation ,Climate change mitigation ,Kuznets curve ,0202 electrical engineering, electronic engineering, information engineering ,Economics ,Econometrics ,Environmental sustainability ,environmental sustainability ,Electrical and Electronic Engineering ,education ,Engineering (miscellaneous) ,0105 earth and related environmental sciences ,education.field_of_study ,Portugal ,Greece ,Cointegration ,lcsh:T ,Renewable Energy, Sustainability and the Environment ,Carbon-reduction ,Per capita income ,renewable energy ,Quantile regression ,Italy ,Spain ,Environmental Kuznets curve ,Ordinary least squares ,carbon dioxide emissions ,Energy (miscellaneous) ,Panel data - Abstract
The present study is in line with the United Nations Sustainable Development Goals (UN-SDGs) that address pertinent global issues. This study focuses on the need for access to clean and affordable energy consumption, responsible energy consumption, sustainable economic growth, and climate change mitigation. To this end, this paper evaluates the relevance of the renewable energy sector on the environmental Kuznets curve (EKC) framework in Portugal, Italy, Greece, and Spain for the period 1995–2015. As an econometric strategy, we adopt the use of panel data over the highlighted countries. In the first step, we apply the unit root test recommended by Levin, Lin, and Chu in conjunction with ADF-Fisher, and Phillips-Perron for robustness and consistency. We found that the variables used in this study are integrated I (1) in the first difference. In the second step, we apply the Pedroni cointegration test, and Kao Residual cointegration test, and we observe that the variables are cointegrated in the long run. The generalized least squares (GLS), the panel fully modified least squares (FMOLS), ordinary least squares robust (OLS), and panel quantile regression are considered in this research. The econometric results validate the assumption of the environmental Kuznets curve, i.e., and there is a positive correlation between income per capita and a negative effect of squared income per capita on carbon dioxide emissions. In contrast, we observe that renewable energy reduces CO2 emissions. Finally, we also find a direct connection between the urban population and the environmental degradation in the examined blocs. These results show that in Portugal, Italy, Greece, and Spain, more is required to achieve environmental sustainability in the respective countries growth trajectory. Further policy prescriptions are appended in the concluding section of this study.
- Published
- 2021
13. Environmental consequences of economic complexities in the EU amidst a booming tourism industry: Accounting for the role of brexit and other crisis events.
- Author
-
Fatai Adedoyin, Festus, Agboola, Phillips O., Ozturk, Ilhan, Bekun, Festus Victor, and Agboola, Mary Oluwatoyin
- Subjects
- *
ECONOMIC impact , *TOURISM , *BRITISH withdrawal from the European Union, 2016-2020 , *CARBON emissions , *KUZNETS curve - Abstract
The European Union (EU) is one of the strongest, but most complex unions in the world with a competitive tourism industry. The aim of this study, therefore, is to account for economic complexity index (ECI), Brexit and other crisis episodes in the growth-energy-emissions nexus. Theoretically, the traditional Environmental Kuznets Curve (EKC) model is assessed by adopting a One-step System Generalized Method of Moment (Sys GMM) on data for 26 EU member states over the period from 1995 to 2018. For the first time, an EU-macro regional analysis is conducted with and without the UK. Empirical results reveal that an increase in tourism, real GDP per capita, and energy use across the four EU macro regions leads to increase in carbon emission. In some regions, it was observed that tourism, ECI, Brexit, and the Greece bailout have no significant impact on carbon emission. This suggests that the increase in international travel, complexity of the economy, and financial crisis do not accelerate environmental crisis in such regions. However, where such factors are statistically significant, Brexit and the Greece bailout crisis both heighten emissions. Particularly, when the UK is excluded, Brexit and the Greece bailout crisis increase and reduce emissions, respectively. The EKC hypothesis, however, holds in either scenario. Based on these empirical findings, vital policy directions are suggested for a post-Brexit EU-UK energy and environmental relations. • We examined ECI, Brexit and other crisis episodes in the growth-energy-emissions nexus. • An increase in tourism, real GDP per capita, and energy use lead to increase in carbon emission. • In some regions, tourism, ECI, Brexit, and the Greece bailout have no significant impact on carbon emission. • When the UK is excluded, Brexit and the Greece bailout crisis increase and reduce emissions, respectively. [ABSTRACT FROM AUTHOR]
- Published
- 2021
- Full Text
- View/download PDF
14. The anthropogenic consequences of energy consumption in E7 economies: Juxtaposing roles of renewable, coal, nuclear, oil and gas energy: Evidence from panel quantile method.
- Author
-
Gyamfi, Bright Akwasi, Adedoyin, Festus Fatai, Bein, Murad A., Bekun, Festus Victor, and Agozie, Divine Q.
- Subjects
- *
NUCLEAR energy , *ENERGY consumption , *COAL , *ENVIRONMENTAL quality , *PETROLEUM industry , *AUTOMOBILE emissions - Abstract
The emerging industrialized seven (E7) economies are not excluded from the global warming issues which is a major problem for most economies. The E7 member countries have partaken in policies to mitigate against global warming in terms of decoupling CO 2 emission from economic growth trajectory in the highlighted economies. It is on this premise that the present study is motivated to consider the connection among economic growth, pollutant emissions, coal rent while accounting for the role of other co-variates such as CO 2 damage and energy from a nuclear energy source, oil gas energy between 1990 and 2016 on an annual frequency. This study adopts the use of panel ordinary least squares alongside panel quantile regression to explore the coal rent-energy and environment nexus. The empirical result shows a positive and significant effect of both real GDP and coal rent on CO 2 emissions. More precisely, a 1% increase in GDP growth increases pollution emission by 0.400% while for coal rent, an increase in coal consumption dampens environmental quality by 0.088% as reported by the panel regression which is resonated by the quantile regression estimations at different tails of the data. Nevertheless, we observe that 0.95 percentile GDP growth strongly contributes to environmental pollution while at the median tail i.e. 0.5 percentile renewable energy consumption dampens the adverse effect of environmental degradation. Additionally, renewable energy, on the other hand, was found a negative and significant impact on CO 2 emissions in E7 countries as a 1% increase in renewable energy consumption improves environmental quality by 0.588% Moreover, the estimated results indicate that regulation of coal consumption through the rent in addition to the cost of carbon damage will further increase the CO 2 emissions in E7 countries. This study implies that putting stringent regulations on coal consumption as it concerns the increasing cost of carbon damage will not be of help to environmental sustainability within the E7 economies. The adoption of renewable energy consumption, nuclear energy, oil energy will reduce CO 2 emissions in E7 countries. Thus, suggesting a paradigm shift for low-carbon energy sources which are more environmentally friendly. [Display omitted] • We explore the nexus between renewables, nuclear, coal, oil, gas energy on CO 2 emission in E7. • Coal rent and renewable energy decreases CO 2 emission in E7 countries. • Energy diversification in the E7 countries can abate global dwindling energy market. • Environmental sustainability is obtained by decoupling CO 2 emission from economic growth. [ABSTRACT FROM AUTHOR]
- Published
- 2021
- Full Text
- View/download PDF
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