Economic prosperity, asymmetric natural resource income, and ecological demands in resource-reliant economies

Aladejare, Samson Adeniyi

doi:10.1016/j.resourpol.2023.103435

Cited by 15 publications

(6 citation statements)

References 81 publications

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“…Thus, suggesting that expansions in the demand for and supply of different ecosystem resources reduce real government spending. About 62% of the African rural population significantly depends on the rich ecological resources of the continent for survival (Aladejare, 2018;Akeabeh et al, 2023;Aladejare, 2023d). This dependence is usually due to the inability of their governments to adequately meet fundamental needs such as agricultural, income, health care, and energy demands.…”

Section: Discussion Of Findingsmentioning

confidence: 99%

Revisiting Public Outlay Determinants in African Economies: Fresh Insight from Sustainability Perspectives

Aladejare

2024

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The objective of this study centred on assessing the impact of sustainability in public outlay determination for 26 African countries. For robustness of analyses, the mean group (MG), feasible generalised least squares (FGLS), generalised linear mixed effects model (GLMM), and the novel method of moments quantile regression (MMQREG) techniques were employed on a dataset sourced between 1990 and 2022. Sustainability indicators were decomposed into economic, social, and environmental components. For the economic indicators, while inflation and revenue had adverse effects, the exchange rate accelerated government spending. The social measures demonstrated that urbanisation diminished public expenditure aside from the increasing impacts of human development and population growth. Similarly, the environmental indicators expressed that demand and supply of ecological resources adversely impacted public outlay in contrast to the enhancing effect of food production. Aggregating these effects suggests that, while the economic and environmental factors are mostly diminishing in impact, the social elements are more accelerating on real government spending. Nevertheless, the magnitude of these impacts varies with the existing size of government expenditure in African economies. Consequently, an encompassing rather than a selective preference for sustainability elements matters in government spending determination. JEL Classification: E62, O55, Q01.

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Section: Discussion Of Findingsmentioning

confidence: 99%

Revisiting Public Outlay Determinants in African Economies: Fresh Insight from Sustainability Perspectives

Aladejare

2024

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“…The unprecedented rise in global energy demand has been generating critical concerns in recent decades due to its intense contribution to the context of global warming (Aladejare, 2022a;Aladejare, 2023a;Akram et al, 2022). For instance, in 1980, the energy consumption level was 7.323 terawatt-hours, but it moved to 25.343 terawatt-hours in 2021 (IRENA, 2022).…”

Section: Introductionmentioning

confidence: 99%

“…Intuitively, economic activities in every country rely mainly on energy use, given its pivotal role in accelerating productivity, income generation, and employment. However, many extant studies concur that the environment responds positively or negatively to the economic growth-energy utilisation nexus (Usman et al, 2019;Sarkodie and Strezov, 2019;Usman et al, 2020;Iorember et al, 2020;Aladejare, 2023a). Thus, nations face the dilemma of reducing energy utilisation intensity and reaping negative economic growth and development; or continuing the prevalence of unsustainable energy and exacerbating environmental atrophy.…”

Section: Introductionmentioning

confidence: 99%

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

Aladejare¹

2023

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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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“…However, their exhaustiveness and the prevailing inefficient extractive process in these economies can adversely deter SD (Aladejare, 2022c). For instance, the extraction of non-renewable resources, such as crude oil, minerals, natural gas, forestry and agricultural products, faster than their regeneration rate is known to deplete the quantum of these resources and degenerate SD (Majeed et al, 2021;Adekoya et al, 2022;Adebayo et al, 2022Ganda, 2022Aladejare, 2022b;Aladejare, 2023a). Also, rising consumer prices experienced worldwide is a current challenge most countries are grappling with.…”

Section: Introductionmentioning

confidence: 99%

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

Aladejare¹,

Musa²

2023

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This study examined the long-term effect of contemporary challenges such as growing resource income, rising consumer prices, inefficient public spending, and globalisation on Africa's quest for sustainable development. A robust measure of sustainable development that integrates resource productivity is adopted. The study period spanned from 1991 to 2021, and data sourced from 24 African countries. The empirical output for this study is derived using long-term methodologies, including feasible generalised least squares, Driscoll-Kraay, and panel dynamic ordinary least squares. The estimation of the long-term model was to capture the consequential effects of contemporary issues on sustainable development. Evidence from the model revealed that increases in resources income, consumer prices, public outlay, and globalisation are deterrents to sustainable development. The individual cross-sectional regression outputs also demonstrated similar effects. Given these contemporary challenges, the study proposed relevant policy measures to aid the attainment of sustainable development.

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Economic prosperity, asymmetric natural resource income, and ecological demands in resource-reliant economies

Cited by 15 publications

References 81 publications

Revisiting Public Outlay Determinants in African Economies: Fresh Insight from Sustainability Perspectives

Revisiting Public Outlay Determinants in African Economies: Fresh Insight from Sustainability Perspectives

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

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

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