Breaking the carbon curse: The role of financial development in facilitating low‐carbon and sustainable development in Algeria

Nwani, Chinazaekpere; Effiong, Ekpeno L.; Okpoto, Sunday Ituma; Okere, Ikechukwu Kingsley

doi:10.1111/1467-8268.12576

Cited by 27 publications

(10 citation statements)

References 51 publications

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“…Further, a growing body of literature has confirmed an intrinsic link between CO 2 emission and economic expansion (Abdulrazaq, 2020Aboagye, 2017Arouri et al, 2014;Balsalobre-Lorente et al, 2018;Ike et al, 2020;Iorember et al, 2020;Musa et al, 2021;Nwani et al, 2021;Odhiambo, 2015Odhiambo, , 2017Shahbaz et al, 2020;Usman, Alola, et al, 2020;. However, findings of their exact relationship still differ and remain a contentious issue.…”

Section: Income and Environmental Degradationmentioning

confidence: 99%

Impact of international trade, energy consumption and income on environmental degradation in Africa's OPEC member countries

Iorember

Gbaka

Jelilov

et al. 2022

African Development Review

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The huge endowment, exploitation and trading of carbon content energy resources by the African OPEC member countries for economic expansion substantiate the fears of increasing global warming and environmental degradation. This study explores the dynamic effects of trade flows, energy consumption and per capita income on environmental degradation in seven of Africa's OPEC member countries (Algeria, Angola, Congo, Equatorial Guinea, Gabon, Libya and Nigeria), within the framework of the environmental Kuznets curve (EKC) and the pollution haven hypothesis (PHH). By employing the bootstrap panel cointegration test and the PMG/ARDL estimation technique on panel data spanning from 1990 to 2017, the empirical results show a positive but insignificant effect of trade flows on environmental degradation. The results further show that while renewable energy dampens environmental degradation, non-renewable energy exerts upward pressure on environmental degradation. In addition, the results provide evidence in support of a U-shaped EKC in the long run. The study, therefore, recommends the expansion of renewable energy consumption to ensure not only environmental sustainability but also to attain the regional goal of sustainable development.

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Section: Income and Environmental Degradationmentioning

confidence: 99%

Impact of international trade, energy consumption and income on environmental degradation in Africa's OPEC member countries

Iorember

Gbaka

Jelilov

et al. 2022

African Development Review

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“…The paper's contribution is in threefolds: In the first place while research has indicated the need to reduce carbon dioxide emissions (Kwakwa and Adusah-Poku, 2020;Nwani et al, 2021; Natural resources, debt and carbon emissions Adebayo and Rjoub, 2021;Chien et al, 2021) empirical studies on the issue for Ghana is limited when compared to other developing countries. The study therefore helps to provide additional knowledge on the carbon dioxide emissions literature on the Ghanaian economy.…”

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

The effect of natural resources extraction and public debt on environmental sustainability

Alhassan

Kwakwa

2022

MEQ

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PurposeThe rise in public debt and the increased extraction of natural resources in Ghana at a time that environmental degradation is escalating, especially with carbon dioxide emission, is worrying. This seems to cast doubt on the country's ability to meet the goals of the Paris agreement for climate change and ensuring sustainable development. Consequently, in this study, the effect of natural resources extraction and government debt on carbon dioxide emission is investigated.Design/methodology/approachThe Environmental Kuznets Curve (EKC) hypothesis was adopted for this study. The Fully Modified Ordinary Least Square Model was used for assessing the data. An annual data from 1971 to 2018 was used for the analysis.FindingsThe long-run results based on the Fully Modified Ordinary Least Square analysis reveal that natural resources extraction increases carbon dioxide emissions. Moreover, the joint effect of post-oil production in commercial quantities and natural resources rent increases carbon dioxide emission. Further, the findings document that the initial stage of government debt improves environmental quality up to a point, beyond which an increase in debt hurts the environment. On the environmental degrading effect of economic growth, the findings validate the Environmental Kuznets Curve hypothesis. It is also observed that urbanization degrades environmental quality.Practical implicationsThe study offers appropriate recommendations policymakers need to embrace towards the attainment of lower carbon emissions from the loans and natural resources rent to achieve environmental sustainability.Originality/valueThe effect of debt on carbon dioxide emission is assessed for the Ghanaian economy. It also contributes to studies on the natural resources-carbon emission nexus.

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“…On the other hand, attention is gradually starting to rise on the subject matter for the case of African countries. However, this attempt has only been well-documented in a few studies (Ben Jebli et al 2015 ; Iorember et al 2020 , 2021 ; Nwani et al 2021 ). Ben Jebli et al ( 2015 ) explored the causality links between growth, renewable energy consumption, and carbon emissions in twenty-four sub-Saharan African nations.…”

Section: Literature Reviewmentioning

confidence: 99%

“…It is however crucial to note that the scope of the latter study is smaller compared to Ben Jebli et al ( 2015 ) since they only examined the specific case of the Nigerian economy among other sub-Saharan African states. Other studies on Africa like Nwani et al ( 2021 ) for the case of the Algerian economy have also bypassed the examination of the EKC. Therefore, the growing debate on the validity of the hypothesis is still open to further investigation.…”

Section: Literature Reviewmentioning

confidence: 99%

The role of alternative energy and globalization in decarbonization prospects of the oil-producing African economies

Onifade

Erdoğan

Alola

2023

Environ Sci Pollut Res

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This study assesses the environmental impacts of the energy mix of mainly oil-producing African nations. The economic aspects of decarbonization prospects were also viewed from the perspectives of fossil energy dependence among the countries. More insights on the impacts of energy mix on decarbonization prospects were also provided on a country-specific analysis basis via the application of second-generation econometric techniques in assessing carbon emission levels across the countries between 1990 and 2015. From the results, only renewable resources proved to be a significant decarbonization tool among the understudied oil-rich economies. Moreover, the consequences of the trio of fossil fuel consumption, income growth, and globalization are diametrically opposed to achieving decarbonization as the rise in their usage significantly acts as pollutant-inducing tools. The validity of the environmental Kuznets curve (EKC) conjecture was also upheld for the combined analysis of the panel countries. The study thus opined that the reduction in conventional energy dependence will enhance environmental quality. Consequently, given the advantages of the geographical locations of these countries in Africa, concerted strategies for more investment in clean renewable energy sources like solar and wind were suggested to policymakers among other recommendations.

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Breaking the carbon curse: The role of financial development in facilitating low‐carbon and sustainable development in Algeria

Cited by 27 publications

References 51 publications

Impact of international trade, energy consumption and income on environmental degradation in Africa's OPEC member countries

Impact of international trade, energy consumption and income on environmental degradation in Africa's OPEC member countries

The effect of natural resources extraction and public debt on environmental sustainability

The role of alternative energy and globalization in decarbonization prospects of the oil-producing African economies

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