Does Rising Resources Income, Consumer Prices, Government Outlay, and Globalisation Hinder Africa's Sustainable Development?

Aladejare, Samson Adeniyi; Musa, Mohammed Auwal

doi:10.2139/ssrn.4296838

Cited by 5 publications

(6 citation statements)

References 31 publications

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“…The D–K approach introduced by Driscoll and Kraay ( 1998 ) produces robust estimates in the presence of serial and spatial dependence, heteroscedasticity, and CSD in the panel datasets. Like the DCCE technique, it is also adaptable to small and large panels and balanced and unbalanced panels (Nathaniel 2021 ; Aladejare and Musa 2022 ).…”

Section: Methodsmentioning

confidence: 99%

Does External Debt Promote Human Longevity in Developing Countries? Evidence from West African Countries

Aladejare¹

2023

Fudan J. Hum. Soc. Sci.

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This study assessed the impact of external debt on longevity in developing countries, particularly in West Africa, from 1981 to 2020. Longevity was proxied by life expectancy at birth, while the study evaluated effects from external debt from the perspective of sustainability, liquidity, and solvency. Furthermore, outcomes from macroeconomic volatility were controlled through inflation and exchange rate variability. Methodologically, the robustness of inferences was ensured by using estimated outcomes from the cross-sectional augmented autoregressive distributed lag (CS-ARDL), dynamic common correlated effects (DCCE), and the Driscoll–Kraay (D–K) methods. Empirically, the study showed that unsustainable, illiquid, and insolvent external debt and macroeconomic volatility shorten longevity mainly in the long-term in West African countries. Hence, longevity will decline when weak external debt management promotes poverty in developing countries.

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Section: Methodsmentioning

confidence: 99%

Does External Debt Promote Human Longevity in Developing Countries? Evidence from West African Countries

Aladejare¹

2023

Fudan J. Hum. Soc. Sci.

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“…Consequently, the study adopted four CSD tests for a robust output, and they include Breusch and Pagan's (1980) Lagrange multiplier (LM) test, Pesaran's (2004) Similarly, the susceptibleness of panel data analysis to slope homogeneity, arising from different economic and demographic configurations of cross-sectional units, may produce misleading regression results (Aladejare and Musa, 2022;Aladejare, 2023a,d). Therefore, having a slope heterogeneity test is necessary when evaluating panel datasets.…”

Section: Estimation Proceduresmentioning

confidence: 99%

“…Also, we applied the Westerlund (2007) error correction model (ECM)-based cointegration technique. Aside from correcting for CSD and heterogeneity, this long-run test can suitably combine variables of a different orders of stationarity in a model (Aladejare and Musa, 2022;Aladejare, 2023b,d).…”

Section: Estimation Proceduresmentioning

confidence: 99%

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Renewable Energy and Ecological Sustainability in Africa: Does Foreign Debt and Financial Globalisation Matter?

Aladejare¹

2023

Preprint

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Since the last decade, ecological preservation has become a critically debated topic in developing and developed nations. Hence, to ensure environmental sustainability, countries and international bodies have been canvassing for measures that support severe restrictions to protect the Earth's biodiversity. Without such an approach, sustaining the ecological quality needed for sustainable growth and development will be a mirage if current greenhouse gas levels are not tamed. Hence, this study investigated the effect of renewable energy consumption on the ecological sustainability of 44 African countries and the accompanying roles of external debt and financial globalisation in the relationship. Second-generation estimation techniques were employed and deduced inferences from the cross-sectional autoregressive distributed lag method used in the study. It was empirically demonstrated that renewable energy is insignificant for ecological sustainability without debt stock and financial globalisation. However, the inclusion of both variables revealed that while renewable energy and financial globalisation accelerated ecological sustainability, external debt worsened it in the short and long-term periods. Therefore, relevant policy measures were proposed in the study. JEL Classification: H54, N77, O3.

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“…In contrast, when trade and investment liberalisation exist with strong regulatory frameworks to guard the environment, their beneficial effect can be enormous on the QoL. Not only will efficient ecological policies defend against adverse economic effects, but they may also further enhance the positive utilisation and management of environmental wealth, and promote wider adoption of ecologically-friendly technologies in developing countries that can advance their life expectancy (Aladejare and Musa, 2024a).…”

Section: Introductionmentioning

confidence: 99%

The Ecological Burdens of Globalisation and Their Effects on the Quality of Life in African Economies

Aladejare

2024

Preprint

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A globalisation-induced environmental consequence can either improve or degenerate the quality of life (QoL), depending on its interference in the balance between the demand and supply of ecological resources, and food security. Hence, this study examined the ecological burdens of globalisation on the QoL for 38 African countries between 1990 and 2020. Empirical inferences for the study were robustly deduced through advanced estimation methodologies. They include Driscoll-Kraay (D-K), augmented mean group (AMG) and the panel dynamic ordinary least squares (PDOLS) techniques. The study further applied the method of moments quantile regression (MMQREG) approach, since the economic progressions in each selected African country are heterogeneous despite their classification as developing nations. Notable findings from these methodologies revealed the ecological demand burden of globalisation to be diminishing the QoL. In contrast, the supply and food security effects of liberalisation are QoL enhancing. Specifically, the MMQREG procedure revealed that the adverse acceleration in the demand side of the consequence grows larger in magnitude when compared to the positive effects in the supply and food security sides as the quantile advances. The implication is that depending on the level of QoL, the ecological burden of liberalisation tends to worsen through the overexploitation and retardation of the regenerative process of natural resources, and the exacerbation of food insecurity in African countries. Applicable policy measures were proposed by the study.

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Does Rising Resources Income, Consumer Prices, Government Outlay, and Globalisation Hinder Africa's Sustainable Development?

Cited by 5 publications

References 31 publications

Does External Debt Promote Human Longevity in Developing Countries? Evidence from West African Countries

Does External Debt Promote Human Longevity in Developing Countries? Evidence from West African Countries

Renewable Energy and Ecological Sustainability in Africa: Does Foreign Debt and Financial Globalisation Matter?

The Ecological Burdens of Globalisation and Their Effects on the Quality of Life in African Economies

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