Quantile relationship between financial development, income, price, CO2 emissions and renewable energy consumption: evidence from Nigeria

Somoye, Oluwatoyin Abidemi; Seraj, Mehdi; Özdeşer, Hüseyin; Mar’i, Muhammad

doi:10.1007/s12076-023-00330-2

Cited by 4 publications

(2 citation statements)

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“…On the contrary, Yi et al (2023) discovered a positive association between RENC and CO 2 for the USA because RENC is insufficient to reduce CO 2 . Somoye, Seraj, et al (2023) found a positive shock movement from CO 2 to RENC.…”

Section: Literature Reviewmentioning

confidence: 96%

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Modelling the connection between energy intensity, renewable energy, globalization, technological innovation and CO₂ emissions: A Quantile–on–Quantile technique

Somoye,

Seraj,

Ozdeser

et al. 2024

Geological Journal

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As Nigeria progresses towards reaching net‐zero emissions by 2060, it is crucial to identify the factors responsible for environmental deterioration and those that enhance ecological well‐being. It is equally significant to emphasize that Nigeria's economy is heavily dependent on fossil fuels, which have proven unsustainable and environmentally unsafe. As a result, this research investigates the impact of energy intensity (EINT), renewable energy consumption (RENC), globalization (GLOX), technological innovation (TINV) and carbon dioxide emissions (CO2) in Nigeria from 1990Q1–2019Q4. The methods employed include Quantile–on–Quantile (QQ) and non–parametric causality. The QQ method reveals that EINT has both positive and negative impacts on CO2, varying in magnitude from 3 to −5. Higher quantiles of RENC tend to influence CO2 positively, whereas the lower quantile has a negative impact. Negative shocks of GLOX on CO2 have less impact, with a maximum magnitude of −1 at the upper quantile of CO2. In contrast, the positive shocks seem to have a stronger impact and vary in magnitude. TINV has negative shocks across all quantiles. In addition, a significant causality is observed in the upper, middle and lower quantiles. This study suggests that policymakers should implement policies encouraging investments in renewable energy and green technologies.

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Section: Literature Reviewmentioning

confidence: 96%

“…Wu et al (2023) discovered the same result for Iceland. Somoye, Seraj, et al (2023) found that CO 2 supplies positive shocks to RENC in Nigeria. On the other hand, most studies have confirmed that RENC benefits the environment.…”

Section: Analysis and Interpretationmentioning

confidence: 99%

Modelling the connection between energy intensity, renewable energy, globalization, technological innovation and CO₂ emissions: A Quantile–on–Quantile technique

Somoye,

Seraj,

Ozdeser

et al. 2024

Geological Journal

Self Cite

View full text Add to dashboard Cite

show abstract

Evaluating the role of financial globalization and oil consumption on ecological quality: A new perspective from quantile-on-quantile granger causality

Adebayo,

Özkan

2024

Heliyon

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Does institutional quality matter in the financial Development-Economic complexity Nexus? Empirical insights from Africa

Olalekan Olaniyi,

Mbaya Odhiambo

2023

Research in Globalization

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Quantile relationship between financial development, income, price, CO2 emissions and renewable energy consumption: evidence from Nigeria

Cited by 4 publications

References 73 publications

Modelling the connection between energy intensity, renewable energy, globalization, technological innovation and CO₂ emissions: A Quantile–on–Quantile technique

Modelling the connection between energy intensity, renewable energy, globalization, technological innovation and CO₂ emissions: A Quantile–on–Quantile technique

Evaluating the role of financial globalization and oil consumption on ecological quality: A new perspective from quantile-on-quantile granger causality

Does institutional quality matter in the financial Development-Economic complexity Nexus? Empirical insights from Africa

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Quantile relationship between financial development, income, price, CO2 emissions and renewable energy consumption: evidence from Nigeria

Cited by 4 publications

References 73 publications

Modelling the connection between energy intensity, renewable energy, globalization, technological innovation and CO2 emissions: A Quantile–on–Quantile technique

Modelling the connection between energy intensity, renewable energy, globalization, technological innovation and CO2 emissions: A Quantile–on–Quantile technique

Evaluating the role of financial globalization and oil consumption on ecological quality: A new perspective from quantile-on-quantile granger causality

Does institutional quality matter in the financial Development-Economic complexity Nexus? Empirical insights from Africa

Contact Info

Product

Resources

About

Modelling the connection between energy intensity, renewable energy, globalization, technological innovation and CO₂ emissions: A Quantile–on–Quantile technique

Modelling the connection between energy intensity, renewable energy, globalization, technological innovation and CO₂ emissions: A Quantile–on–Quantile technique