Does Technological Progress Provide a Win–Win Situation in Energy Consumption? The Case of Ghana

Adom, Philip Kofi; Kwakwa, Paul Adjei

doi:10.1007/978-3-030-06001-5_14

Cited by 9 publications

(5 citation statements)

References 29 publications

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“…Therefore, there is a need for the EAC governments to come up with the agreed standards for the renewable energy products to be imported into the region. However, this finding agrees with Kumaran et al (2020), who conducted research in selected Asian nations, and Adom and Kwakwa (2019) in Ghana, but disagrees with Qamruzzaman and Jianguo (2020), who conducted research in countries at different levels of development, and Alam and Murad (2020) who conducted research in 25 OECD countries.…”

Section: Tablesupporting

confidence: 41%

Investigating the modern renewable energy-environmental Kuznets curve (REKC) hypothesis for East Africa Community (EAC) countries

Nabaweesi,

Kigongo,

Buyinza

et al. 2023

TECHS

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PurposeThe study aims to explore the validity of the modern renewable energy-environmental Kuznets curve (REKC) while considering the relevance of financial development in the consumption of modern renewable energy in East Africa Community (EAC). Modern renewable energy in this study includes all other forms of renewable energy except traditional use of biomass. The authors controlled for the effects of urbanization, governance, foreign direct investment (FDI) and trade openness.Design/methodology/approachPanel data of the five EAC countries of Burundi, Kenya, Rwanda, Tanzania and Uganda for the period 1996–2019 were used. The analysis relied on the use of the autoregressive distributed lag–pooled mean group (ARDL-PMG) model, and the data were sourced from the World Development Indicators (WDI), World Governance Indicators (WGI) and International Energy Agency (IEA).FindingsThe REKC hypothesis is supported for modern renewable energy consumption in the EAC region. Financial development positively and significantly affects modern renewable energy consumption, whereas urbanization, FDI and trade openness reduce modern renewable energy consumption. Governance is insignificant.Originality/valueThe concept of the REKC, although explored in other contexts such as aggregate renewable energy and in other regions, has not been used to explain the consumption of modern renewable energy in the EAC.

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Section: Tablesupporting

confidence: 41%

Investigating the modern renewable energy-environmental Kuznets curve (REKC) hypothesis for East Africa Community (EAC) countries

Nabaweesi,

Kigongo,

Buyinza

et al. 2023

TECHS

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“…Various factors have been identified to exert different effects on energy consumption at the national or regional level. Studies, including, Kwakwa et al (2020), Hasanov et al (2019), Adom and Kwakwa (2019), Kwakwa (2019), Rafindadi and Ozturk (2016) and Bass (2018), that have relied on the economic theory to model the drivers of energy consumption have revealed factors like income, price, trade, technology, dependency ratio, population, urbanization, industrialization, financial development and capital affect the amount of energy consumption.…”

Section: Literature Reviewmentioning

confidence: 99%

What determines renewable energy consumption? Startling evidence from Ghana

Kwakwa

2020

IJESM

Self Cite

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Purpose Owing to the adverse effect of carbon dioxide emission, there have been calls for economies to rely on (cleaner) renewable energy. Although empirical studies on the subject matter abound the conflicting outcome, the less attention paid to combustible renewable and waste, and the little empirical evidence of the effect of financial development and industrialization on renewable energy consumption necessitate further studies. This study aims to examine the drivers of renewable energy consumption for Ghana whose share of renewable energy consumption in the total energy consumption has been reducing over the past decade, with fossil fuel consumption remaining high. Design/methodology/approach Based on the demand theory and empirical studies, the paper models total renewable energy consumption and combustible renewables and waste as a function of income, price, financial development and industrialization. Regression and variance decomposition techniques were used to analyze the data. Findings Ghana’s renewable energy consumption is positively influenced by industrialization, but negatively influenced by price, income and financial development in the long run, while in the short run, industrialization and financial development affect renewable energy consumption. Research limitations/implications The findings imply that the transition to cleaner energy is not a matter of income level alone. Future research should investigate the drivers of other renewable energy consumption and the possible challenges to green finance in Ghana’s financial sector. Originality/value The effect of financial development and industrialization on renewable energy consumption is examined. Previous econometric analyses have also focused on total renewable energy, but this study adds combustible renewable and waste to the analysis.

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“…The results of this study contribute to Qamruzzaman and Jianguo (2020), who conducted research among countries at different levels of development, and Omri et al (2015), who conducted research in 64 nations that included high-, middle-and low-income countries. In addition, in countries such as Ghana (Adom and Kwakwa, 2019) and selected Asian nations (Kumaran et al, 2020) trade openness does not improve renewable energy consumption. This discrepancy with the latter studies in Asia and Ghana may be attributed to the inclusion of traditional renewable energy (forest-based biomass) in the model.…”

Section: Dynamic Panel Cs-ardl Approachmentioning

confidence: 99%

“…Furthermore, most studies have concentrated on aggregate renewable energy consumption (including the traditional use of biomass) and the factors affecting it. For example, the literature has explored perspectives such as carbon emissions (Attiaoui et al ., 2017), energy prices (Omri et al ., 2015), economic growth (Attiaoui et al ., 2017; Ergun et al ., 2019), trade openness (Adom and Kwakwa, 2019; Yahya and Rafiq, 2019), industrialization (Kwakwa and Aboagye, 2014; Raza et al ., 2020), financial market development (Omoju, 2015; Raza et al ., 2020), urbanization (Kwakwa and Aboagye, 2014; Salim and Shafiei, 2014), foreign direct investment (FDI) (Omoju, 2015; Salim et al ., 2017; Kutan et al ., 2018), education (Jamshid et al ., 2022) and political and institutional quality (Uzar, 2020; Wang et al ., 2022). Governance and the use of renewable energy have been mostly studied in other parts of the world, such as Asia (e.g.…”

Section: Introductionmentioning

confidence: 99%

Governance and modern renewable energy consumption in the East African Community (EAC): a dynamic panel CS-ARDL approach

Nabaweesi,

Kaawaase,

Buyinza

et al. 2023

MEQ

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PurposeThis study aims to examine the effect of governance on the consumption of modern renewable energy in the East African Community (EAC), controlling for economic growth, trade openness and foreign direct investment (FDI).Design/methodology/approachThe study relied on secondary data sourced from the World Development Indicators, World Governance Indicators and the International Energy Agency (IEA) for the EAC from 1996 to 2019. A panel Cross-Sectional Augmented Distributed Lag (CS-ARDL) model and second-generation panel data models were employed in the analysis.FindingsThe findings indicate that poor governance and inadequate FDI are significantly responsible for the low level of modern renewable energy consumption (MREC) in the EAC. On the other hand, trade openness significantly enhances MREC, while GDP per capita has no significant effect on MREC.Originality/valueThe consumption of modern renewable energy sources (excluding the traditional use of biomass) and its determinants, as most studies focus on renewable energy consumption as a whole. The study also employed the panel CS-ARDL model and second-generation panel data models.

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Does Technological Progress Provide a Win–Win Situation in Energy Consumption? The Case of Ghana

Cited by 9 publications

References 29 publications

Investigating the modern renewable energy-environmental Kuznets curve (REKC) hypothesis for East Africa Community (EAC) countries

Investigating the modern renewable energy-environmental Kuznets curve (REKC) hypothesis for East Africa Community (EAC) countries

What determines renewable energy consumption? Startling evidence from Ghana

Governance and modern renewable energy consumption in the East African Community (EAC): a dynamic panel CS-ARDL approach

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