Climate change, technology and manufacturing sector growth in oil-rich Nigeria

Foye, Victoria Oluwatoyin; Benjamin, Oluwasegun Olawale

doi:10.1504/ijse.2021.116643

Cited by 5 publications

(5 citation statements)

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“…The results are consistent with studies in Economic Community of West African States exhibiting the influence of climate variables such as rainfall and temperature, and economic variables like capital and labor affects agricultural output [29]. In the same manner, it was found out that climate change in Nigeria deters the growth of the technology and manufacturing sector decreasing labor and capital productivity consequently hampering growth and sustainable development [12,34].…”

Section: Analysis Of Regression Results and Diagnostic Testssupporting

confidence: 89%

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Impact of Climate Change and Economic Activity on Philippine Agriculture: A Cointegration and Causality Analysis

Dait¹

2022

ujar

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Climate change impact is particularly severe in developing countries like the Philippines mainly because of low incomes, geographic state or condition, dependence on climate-sensitive sectors and inadequate capability to adapt to global warming. This paper aimed at analyzing the risk posed by climate change using climatic variables on Philippine agriculture. Likewise, it focused on the empirical measurement of the hypothesized relationship between agricultural output and the condition or predicted economic variables. This paper employed not only the Cobb-Douglas production function using time series data from 1980 to 2014 but also the modeling techniques -Cointegration and Granger causality to simulate the impact of changes of the aforementioned variables on output of Philippine agriculture. Results show that only three variables indicated considerable significance on agricultural production in the Philippines based on their respective t-ratios: Agricultural Employment (EA), temperature (TEMP), and La Nina (D1). Other things equally, a 1% rise in agricultural employment paves a 0.2% increase in agricultural production. On the other hand, a 1% increase in temperature, cet. par., decreases agricultural production by 0.08%. Correspondingly, the incidence of El Nino, other things equally, deceases agricultural output by 0.02%. The other variables are not statistically significant but are interpreted in the same way. With this, government expenditure should be redirected toward R&D in agriculture to improve resilience, competence and sustainability of the agriculture sector.

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Section: Analysis Of Regression Results and Diagnostic Testssupporting

confidence: 89%

“…Climate change endangers agricultural productivity and destabilizes production efficiency. Due to low resilience to climate change and variability, a lot of developing countries across the globe who are agriculture-dependent and insufficiently productive are estimated to have lower agricultural production and capacity [5,12,20].…”

Section: Introductionmentioning

confidence: 99%

Impact of Climate Change and Economic Activity on Philippine Agriculture: A Cointegration and Causality Analysis

Dait¹

2022

ujar

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“…Under the new economic norm, global warming will slow the growth of the surrounding economy, impede the growth in local government revenues, disrupt the stability of the real estate market, and cause a credit crisis. In contrast, the debt risk of local governments will gradually emerge, transforming a region's financial risk into overall financial system risk (Foye, 2018). Thus, global warming will decrease government revenues and increase government expenditures.…”

Section: Literature Reviewmentioning

confidence: 99%

Financial risk under the shock of global warming: Evidence from China

Gao,

Li,

Hao

2023

Bus Strat Env

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The economic and financial risks of global warming have become a hot issue of academic interest. This article analyzes global warming, financial risk, and the economic statistics of 30 provinces in China from 2010 to 2020 as a sample to assess the influence of the severity of global warming on financial risk. Global warming is found to affect financial risk and to have a substantial favorable influence on the amount of financial risk. Global warming also has significant effects on households, enterprises, financial institutions, and governments. There is heterogeneity in the effects of climate variation on financial risk. Global warming will cause a greater accumulation of financial risk in economically developed regions. Additionally, it will lead to financial risks by causing a decline in the incomes of residents, a decline in the profits of enterprises, growth in the number of loans that financial institutions consider to be nonperforming, and a widening of the gap between government revenue and expenditures. All of these effects will have an adverse domino effect on the economy. To reduce the financial risks caused by global warming, countermeasures are being offered to ensure social cohesion, conduct risk stress testing, create risk mitigation instruments, and encourage environmentally responsible development. This paper discusses policies and provides policymakers with recommendations on how to cope with the systematic financial risks induced by climate variation.

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“…From the equation (1), FPI is the dependent variable while Rainf and Tem (proxy for climate change) represent explanatory variables. Thus, Equation (1) indicates that FPI is influenced by climate change.…”

Section: Model Specificationmentioning

confidence: 99%

“…It encompasses various shifts in temperature, precipitation, wind patterns, and other climate-related factors that occur over extended periods, typically decades to millions of years. This change could be anthropogenic (human induced) or biogeographical [1]. The reality of climate change and its increasingly frequent and dire consequences pose significant threats to human populations across various regions globally.…”

Section: Introductionmentioning

confidence: 99%

Modelling Dynamic Linkage between Climate Change and Food Inflation in Nigeria

Ichoku,

Anthony,

Olushola

et al. 2023

IJECC

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The study delves into the critical issue of climate change and its detrimental impact on various regions worldwide, including Nigeria. It emphasizes the urgent need for global efforts to mitigate these effects and advocates for measures to address human activities contributing to climate dynamics. Specifically, the study empirically examines the affiliation between climate change shocks and food price inflation in Nigeria using a Nonlinear Autoregressive Distributed Lag (NARDL) approach. The dataset covers the period from January 2011 to December 2022.The empirical findings reveal a robust cointegrating relationship between climate change shocks and food price inflation in Nigeria. Notably, climate change shocks significantly contributed to rising food prices within the study period. Furthermore, the Error Correction Term (ECT), estimated at 52 percent, indicates that food price inflation adjusts by 52 percent in the current month to counteract the initial shock experienced in the previous month. The Dynamic Multiplier graph, along with a 95 percent confidence interval, demonstrates that the explanatory variables exert substantial influence on food price inflation in Nigeria during the study period. Considering these findings, the study recommends that Nigeria should transit from traditional agricultural practices to Climate-Smart Agriculture to address future needs and climate-related challenges. Additionally, the government and stakeholders should implement alternative practices such as irrigation and the replenishment of shrinking water bodies in the Sudan and Sahel savannah regions.

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Climate change, technology and manufacturing sector growth in oil-rich Nigeria

Cited by 5 publications

References 0 publications

Impact of Climate Change and Economic Activity on Philippine Agriculture: A Cointegration and Causality Analysis

Impact of Climate Change and Economic Activity on Philippine Agriculture: A Cointegration and Causality Analysis

Financial risk under the shock of global warming: Evidence from China

Modelling Dynamic Linkage between Climate Change and Food Inflation in Nigeria

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