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Impact Of Economic Growth And Energy Consumption On CO2 Emission:an Empirical Evidence From African Countries

Posted on:2021-03-22Degree:MasterType:Thesis
Institution:UniversityCandidate:Kofi Agyenim BoatengFull Text:PDF
GTID:2491306455992789Subject:Management Science and Engineering
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Energy has an important role in agriculture,industry,education,trade,health,and communication.Theories exhibit energy consumption is essential for Sub Saharan Africa’s economic development.Renewable energy innovation will breed access to a green environment and mitigate the harmful effects of climate change.Energy knowledge and fusions have currently begun to transform.As an example,there were excessive recent growth charges in solar and energy consumption.This is critical because energy consumption(EC),which is less costly,is a crucial contributor to economic growth(EG).There are many influences of energy on financial development through social,health,and environmental channels.This study highlights the performance of the framework employed by using the Solow growth prototypical in the milieu of the Cobb-Douglas production function.This research examines the association between EC and EG in Africa using panel P-Var and panel quantile regression approach.The African countries are sampled into Northern and Southern groups.The findings of the study assist the objectivity theory in the short-run for each regional group in Africa,and substantial causatives in both directions are located inside the short-run period.The surprising outcomes from the quantile regression results suggest that conditioning on different determinants of the economic boom in both Southern and Northern countries provides proof of the causal relations.This study allows us to explain the nexus of EC-EG and the role of CO2 in Africa.The outcomes are perilous in expressing bearable developmental strategies geared towards allocating resources to intensify access to energy in Africa.Also,effects from the PMG assessment with panel ARDL model display;(a),short-time period,and long-time period interconnections from the PMG assessment via ARDL prototypical found a two-way connectedness is a threshold through(labor and trade)in the long-period in the lengthy-length.(b),long-term connectedness from PMG estimation through the ARDL model determined a one-way connectedness through(Fossil fuel and GDP)and(Labor and GDP)in the long-period inside the lengthy-period.Also,there is a uni-directional causality among(carbon emission and fossil fuel),(labor and carbon emission).Economists are intrusive about the rapport amongst EC-EG powered with the aid of the idea that energy charges at once affect spending choices on the families,businesses,and the general overall performance of the economic system.
Keywords/Search Tags:Economic growth, Energy consumption, Carbon emission, GDP, Panel Quantile regression, Panel P-Var,Pooled mean Group(PMG)
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