Despite the increased number of stock exchanges in Africa, this segment of the financial market remains underdeveloped with low market capitalization, volume and illiquidity. Furthermore, the aftershock of the 2008 financial crisis exacerbates the poor market condition with the attendant decrease in investment. Efforts of previous policies to promote stock market development and restore investors’ confidence did not yield a positive outcome as they are yet to meet the rising demand for capital needed by domestic firms. This paper examines the relationship between poverty reduction and stock market development in Africa, using the pooled mean group (PMG) model for the sample period of 1996 to 2016. The findings suggest poverty reduction has a positive effect on stock market development both in the long-run and short-run estimates. For policy prescription, the government of the respective countries should implement programs that will promote financial inclusion and alleviate poverty to promote domestic investment in stock markets in the region.

The increasing level of greenhouse gas carbon emission currently exacerbates the devastating effect of global warming on the Earth's ecosystem. Energy usage is one of the most important determinants that is increasing the amount of carbon gases being released. Simultaneously, the level of energy usage is derived by the price and therefore, this study examines the contribution of energy price to carbon gas emissions in thirteen African nations for the period spanning 1990 to 2017. It does this by utilizing the Cross-sectional Dependence (CD), Augmented Mean Group (AMG) and Pooled Mean Group (PMG) panel modelling methods. The findings of the AMG model suggest that a 1% increase in energy price leads to a 0.02% decerease in carbon emission. The results further reveal that a 1% increase in energy intensity and technological innovation lead to 0.04% and 3.65% increase in carbon emission, respectively, in the selected African countries. Findings will help policymakers to implement effective energy price policies to reduce carbon emissions and achieve sustainable development goals especially in the emerging economies of Africa.

The African stock market remains underdeveloped despite the increased number of stock exchanges in the region characterized by low market capitalization, volume and illiquidity. The efforts of the previous policies to promote stock market development and restore investors’ confidence in the region did not yield a positive outcome, as they are yet to meet the rising demand for capital by domestic firms. This article investigates the effects of life expectancy and financial crisis on the stock market development in Africa, using the pooled mean group (PMG) model for the sample period of 1996–2016. The findings reveal a positive and statistically significant long-run relationship between the life expectancy and stock market development. Furthermore, the financial crisis adversely affects the stock market development with an attendant decrease in investment. There is a need for policies that address infant mortality, encourage long-term investment and protect the African stock market against an adverse reaction of the financial crisis.

The increasing level of greenhouse gas carbon emission currently exacerbates the devastating effect of global warming on the Earth’s ecosystem. Energy usage is one of the most important determinants that is increasing the amount of carbon gases being released. Simultaneously, the level of energy usage is derived by the price and therefore, this study examines the contribution of energy price to carbon gas emissions in thirteen African nations for the period spanning 1990 to 2017. It does this by utilizing the Cross-sectional Dependence (CD), Augmented Mean Group (AMG) and Pooled Mean Group (PMG) panel modelling methods. The findings of the AMG model suggest that a 1% increase in energy price leads to a 0.02% decerease in carbon emission. The results further reveal that a 1% increase in energy intensity and technological innovation lead to 0.04% and 3.65% increase in carbon emission, respectively, in the selected African countries. Findings will help policymakers to implement effective energy price policies to reduce carbon emissions and achieve sustainable development goals especially in the emerging economies of Africa.