The impact of financial development on carbon, non-carbon, and total ecological footprint in Nigeria: new evidence from asymmetric dynamic analysis

Omoke, Philip C.; Nwani, Chinazaekpere; Effiong, Ekpeno L.; Evbuomwan, Osaretin O.; Emenekwe, Chukwuemeka Chinonso

doi:10.1007/s11356-020-08382-3

Cited by 81 publications

(45 citation statements)

References 91 publications

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“…Recently, one of the studies reports that GPR asymmetrically effects carbon emissions in BRICS countries [20]. 15 Globalized countries qantile-on-quantile regression Globalization [55] South Asian countries Panel ARDL Globalization and technology [56] Nigeria NARDL approach Financial development…”

Section: Literature On the Impact Of Epu And Gpr On Environmental Degmentioning

confidence: 99%

Do Economic Policy Uncertainty and Geopolitical Risk Lead to Environmental Degradation? Evidence from Emerging Economies

et al. 2021

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Since the turn of twenty first century, economic policy uncertainty (EPU) and geopolitical risk (GPR) have escalated across the globe. These two factors have both economic and environmental impacts. However, there exists dearth of literature that expounds the impact of EPU and GPR on environmental degradation. This study, therefore, probes the impact of EPU and GPR on ecological footprint (proxy for environmental degradation) in selected emerging economies. Cross-sectional dependence test, slope heterogeneity test, Westerlund co-integration test, fully modified least ordinary least square estimator, dynamic OLS estimator, and augmented mean group estimator are employed to conduct the robust analyses. The findings reveal that EPU and non-renewable energy consumption escalate ecological footprint, whereas GPR and renewable energy plunge ecological footprint. In addition, findings from the causality test reveal both uni-directional and bi-directional causality between a few variables. Based on the findings, we deduce several policy implications to accomplish the sustainable development goals in emerging economies.

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Section: Literature On the Impact Of Epu And Gpr On Environmental Degmentioning

confidence: 99%

Do Economic Policy Uncertainty and Geopolitical Risk Lead to Environmental Degradation? Evidence from Emerging Economies

et al. 2021

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“…It is measured in global hectares of land (gha). Recent studies have adopted the EF to measure anthropogenic activities on our natural environment (Solarin et al, 2021;Nathaniel, 2020;Zameer et al, 2020;Nathaniel et al, 2020aNathaniel et al, , 2020bDanish et al, 2020;Destek and Sinha, 2020;Sharif et al, 2020;Usman et al, 2020;Jin et al, 2020;Altıntaş and Kassouri, 2020;Dogan et al, 2020;Yilanci and Pata 2020;Baz et al, 2020;Omoke et al, 2020). The link between NR and EF is heralded with lots of conflicts.…”

Section: Introductionmentioning

confidence: 99%

Modelling the Impact of Energy Consumption, Natural Resources, and Urbanization on Ecological Footprint in South Africa: Assessing the Moderating Role of Human Capital

Nathaniel¹,

Bekun²,

Faizulayev³

2021

IJEEP

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Apart from being the most urbanized and largest emitter of CO 2 emissions in Africa, South Africa currently harbours an ecological deficit territory mainly due to its desire to attain more growth with less attention to its natural environment. Since environmental distortions are mainly an outcome of human activities, this study becomes the first to investigate the linkage between natural resource (NR), human capital, energy consumption, and ecological footprint (EF) in South Africa. Findings from the long-run results reveal that energy consumption, natural resource, economic growth, and urbanization add to the EF, while human capital curtails environmental deterioration. The interaction between human capital and urbanization helps in mitigating environmental degradation, which suggests a moderating effect of human capital in urban sustainability. The CCR, DOLS and FMOLS confirm the robustness of the findings. A feedback causality exists between natural resource and economic growth, and between economic growth and EF. Natural resources and urbanization also Granger cause EF. Lastly, policies relating to urban and natural resource sustainability and human capital development are discussed.

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“…On one side, the use of fossil energy has generated full‐blown climate change and global warming (Leitão and Balsalobre‐Lorente, 2020). On the other side, it focused on the empirical evidence that is inconclusive and inconsistence cutting across differences in choice of methodologies, countries, sample size and choices of variables (Omoke et al ., 2020). As a result of this, we made use of most appropriate literature review which assesses the effect of financial development, urban populace, population age structure and trade on energy use.…”

Section: Literature Reviewmentioning

confidence: 99%

What drives the energy consumption mix in Nigeria? The role of financial development, population age groups, urbanization and international trade: insight from ARDL Analysis

Okere

Ogbulu

Onuoha³

et al. 2021

OPEC Energy Review

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This study aims to investigate the influence and the direct causal relationship between energy consumption and the selected explanatory variables in the Nigerian economic system. Using ARDL‐VECM over the period of 1972–2014, the results are that financial development exerts negative and significant influence on energy consumption. Trade openness and urbanisation exert positive and significant effect on energy consumption both in the short and long run, the active age (15–64) and old age (65 and >) have different effects on energy consumption. Although the number of the older population (age 65 and above) causes the energy consumption level to fall, the size of the working/active population (age 15–64) causes the energy consumption level to increase. Further results revealed (i) unidirectional causality runs from working population to energy consumption, (ii) uni‐directional causality runs from energy consumption to credit to private sector, (iii) uni‐directional from trade openness to real GDP per capita, (iv) bi‐directional causal relationship is observed between urbanisation and energy consumption, (v) bi‐directional relationship between trade openness and energy consumption. These findings may be a guide to policymakers in evaluating Nigerian economy's energy needs and effective energy policies needed to address environmental issues related to fossil fuel use.

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The impact of financial development on carbon, non-carbon, and total ecological footprint in Nigeria: new evidence from asymmetric dynamic analysis

Cited by 81 publications

References 91 publications

Do Economic Policy Uncertainty and Geopolitical Risk Lead to Environmental Degradation? Evidence from Emerging Economies

Do Economic Policy Uncertainty and Geopolitical Risk Lead to Environmental Degradation? Evidence from Emerging Economies

Modelling the Impact of Energy Consumption, Natural Resources, and Urbanization on Ecological Footprint in South Africa: Assessing the Moderating Role of Human Capital

What drives the energy consumption mix in Nigeria? The role of financial development, population age groups, urbanization and international trade: insight from ARDL Analysis

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