Do Globalization and Economic Development Promote Renewable Energy Use in Ghana?

Gyimah, Justice; Seth, Prekoh; George, Nyantakyi; Philip, Adu Sarfo; Isaac, Sam Hayford

doi:10.22161/ijaers.84.12

Cited by 10 publications

(6 citation statements)

References 19 publications

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“…Renewable energy at 1% significance has 8.8% negative and significant effect on carbon emissions. The result is supported by Ofori et al [46] and the argument made by Gyimah et al [56] and Justice et al [57] that, renewable energy helps mitigate carbon emissions and provide reliable grounds for promoting environmental sustainability. Economic growth at 5% significance has 6% negative and significant effect on carbon emissions.…”

Section: Plos Onementioning

confidence: 82%

Achieving carbon neutrality in West Africa: The impact of financial development and good governance

Gyimah,

Nwigwe,

Safi

et al. 2023

PLoS ONE

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Achieving a net zero carbon has been one of the main agendas for all state and non-state actors. The political system of developing countries sometimes makes both internal and external actors question their efforts toward the agenda. Therefore, this study contributes to previous literature in analyzing the empirical effect of financial development and governance quality on carbon emissions. The study covers sixteen West African countries with data from 1996 to 2021. The study employs the Generalized Method of Moments for the analysis. Financial development in all the models contributes to carbon emissions. However, the effect of governance quality indicators varies depending on the model and the indicator(s) used. Nevertheless, economic governance and political governance in most models contribute to environmental pollution, but institutional governance helps promote environmental quality. Renewable energy and economic growth promote environmental quality through carbon mitigation. However, trade openness promotes environmental pollution by encouraging the release of carbon emissions. Finally, relevant policy implications are proposed based on the empirical findings of the study.

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Section: Plos Onementioning

confidence: 82%

Achieving carbon neutrality in West Africa: The impact of financial development and good governance

Gyimah,

Nwigwe,

Safi

et al. 2023

PLoS ONE

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“…Omri [49] employed GMM to explain the relationship between economic growth, carbon emissions, and energy consumption in MEAN (Saudi Arabia). Therefore to analyze energy (renewable and fossil energy) and economic growth effect on carbon emissions, the study considered these two models and further emulates Justice et al [50] and Tachega et al [51] empirical model to examine the effects. The model would help to analyze the long-term effect of the independent variables on the dependent variable.…”

Section: Plos Climatementioning

confidence: 99%

The role of energy and economic growth towards sustainable environment through carbon emissions mitigation

et al. 2023

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Promoting environmental sustainability to secure and protect the ecosystem has been a major concern to many nations and nongovernmental organizations. Energy is considered one of the main contributors to carbon emissions which destroys the quality of the environment. Therefore, the study uses Two-stage least squares to examine the effect of energy (renewable and fossil energy) and economic growth on carbon emissions in Ghana. To ensure the quality of our result, Robustness Least Square and Generalized Method of Moments are employed as a robustness check. The data for the study is from 1990 to 2018. The result of the study indicates that renewable energy and fossil fuel cause carbon emissions in Ghana within the years under review. Economic growth has no relevant effect on carbon emissions. To promote environmental sustainability in Ghana, measures should be put in place to encourage the use of cleaner energy. The government should establish cooperation with countries with high renewable technologies to benefit from their innovations to improve on their renewable energy consumption.

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“…Different research methods and subjects can lead to different results when studying the relationship between economic growth and renewable energy consumption (Šimelyt ė and Dudzeviči ūt ė, 2017) [7]. Previous studies, in order to establish the relationship between renewable energy and economic growth, have used autoregressive distributional lag methods (Cherni and Essaber Jouini, 2017) [23], Granger causality tests (Alsaleh and Abdul-Rahim, 2021) [24], FMOLS (Rahman and Velayutham, 2020) [25], DOLS (Fei et al 2011) [26], PVAR (Charfeddine and Kahia, 2019) [27], and GMM (Justice et al 2021) [28]. We did consider all of the above-listed methods, but most of these methods have been used to study the direct role of variables in enhancing the relationship between renewable energy consumption and economic growth while ignoring their indirect role.…”

Section: Model Settingmentioning

confidence: 99%

The Impact of Renewable Energy Consumption on Economic Growth: Evidence from Countries along the Belt and Road

2023

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To mitigate the adverse effects of climate change, the structure of global energy consumption has changed, and renewable energy consumption has increased rapidly, which may have a new impact on sustainable economic development. Against this backdrop, this paper investigates the direct and indirect effects of renewable energy consumption on economic growth, utilizing panel data from 90 countries along the Belt and Road between 2000 and 2019. Employing Granger causality tests and mediating effect models, we detect a bidirectional causal relationship between renewable energy consumption and economic growth, further affirming the feedback hypothesis. Our findings show that renewable energy consumption directly contributes to economic growth. Additionally, we found that renewable energy consumption has an indirect influence on economic growth via its impact on gross capital formation and trade. Drawing on these findings, we offer practical recommendations for the Belt and Road countries to implement appropriate countermeasures.

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Do Globalization and Economic Development Promote Renewable Energy Use in Ghana?

Cited by 10 publications

References 19 publications

Achieving carbon neutrality in West Africa: The impact of financial development and good governance

Achieving carbon neutrality in West Africa: The impact of financial development and good governance

The role of energy and economic growth towards sustainable environment through carbon emissions mitigation

The Impact of Renewable Energy Consumption on Economic Growth: Evidence from Countries along the Belt and Road

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