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This study tests the hypothesis; lower energy intensity and lower cost of energy do not foster financial development. To this end, we estimate a long-run econometric model based on three cointegrating techniques that correct for both the second-order bias and non-centrality bias, using data from Ghana. Different robustness checks were conducted to provide a justification for either the rejection/acceptance of the null hypothesis. On different accounts, we reject the null hypothesis. Thus, lower energy intensity and lower cost of energy foster financial development in the long-run. The negative effects of higher energy intensity and energy cost on financial development have important implications for the design of loan contracts and the behaviour of borrowers toward energy efficiency investments. Further, economic growth, democracy, and trade openness foster financial development. • Investigates the financial development – energy indices nexus. • Lower energy intensity fosters financial development. • Higher cost of energy reduces financial development. • Economic growth, democracy, and trade openness foster financial development. • Loan contracts should consider energy cost and utilization as potential risk factors. [ABSTRACT FROM AUTHOR]

Africa's population is growing at a faster pace, and the growth in megacities and rate of urbanization has been very rapid. Alongside, economic growth is expected to be very robust in the future. Altogether, these will pose serious challenges for the energy system in Africa; a condition that makes the development of renewables (RES) a necessity in the continent. Though the continent is well-endowed with RES, it is least developed and deployed, partly due to limited research and development in the sector. Particularly, the macroeconomic implications of RES have not been thoroughly studied in the continent, which leaves a big literature gap for the continent. This motivates the current study to investigate into the macroeconomic implications of RES using Ghana as the case study, a country that is well-endowed with RES and one of the few in the continent that has integrated RES into their overall energy policy. Specifically, in this study, we examined the implications of RES concentration on electricity price uncertainty. Further, we investigated the persistent profile effect of both system-wide and individual shocks on the equilibrium relations. Finally, we decomposed the variance in electricity price into permanent and transitory components and explained what drives these trends. [ABSTRACT FROM AUTHOR]

Abstract: The frequent power outages which characterises Ghana''s electricity sector have raised serious concerns among policy makers and stakeholders. The causes of this problem have been cited as growing demand and inadequate investment. The objective of this study, therefore, was to identify the factors that affect aggregate electricity demand in Ghana both in the short and long-run as a guide for demand-side management based on two econometric approaches-ARDL and PAM. Also predictions of aggregate electricity demand based on these econometric methods were obtained to guide investment decisions in the electricity sector. The result revealed that the positive output, urbanisation, and income effects more than offset the negative efficiency effects leading to growth in electricity consumption both in the short-run and long-run. The result further establishes the superiority of the ARDL approach to forecasting over the Partial adjustment approach to forecasting. For all three scenarios, future domestic consumption levels of electrical energy are predicted to increase ad infinitum from 2012 to 2020. Specifically electricity demand is estimated to fall within 20,453 and 34,867 GWh by the year 2020 for all three scenarios. This requires huge capital investments in additional plant capacity. [Copyright &y& Elsevier]

Globally, there are strategies to solve sustainability and health problems, but we continue to experience an increase in disease burden and environmental problems. This study applied a cross-sectional design to examine the perceived awareness on the environmental hazard-health nexus and the key factors that drive individuals WTP in environmental policy design in Accra, Ghana. Significant number of respondents, who reported of cases of air pollution and poor sanitation, revealed perceived relationship between these environmental problems and malaria, diarrhoea and respiratory tract infections. More respondents are willing to participate in environmental policy design, recommending a tripartite medium of engagement (i.e. group discussion, provision of information, and survey) as the ideal. Municipal Assembly and Polluters are the key trusted actors to provide environmental information and solve environmental problems, suggesting the desirability of Public-Private Partnerships (PPPs) to environmental related matters. Finally, education, age, gender, residence (urban or rural), prior existing health and environmental conditions, and length of stay influence WTP in environmental policy design. The odds to participate rises with the level of education while it decreases with age, suggesting the desire of younger generation to participate in environmental protection policy. Investing in the human capital capacity of the young people is crucial. • Examines environment-health nexus and WTP in environmental policy design • High perceived awareness on the link of environment and health • Higher WTP, driven by education, age, gender and residential type • Recommends tripartite medium of engagement as ideal means for participation • Public-Private Partnerships desirable for environmental related matters [ABSTRACT FROM AUTHOR]