Complementarity Between Foreign Aid and Financial Development as a Driver of Economic Growth in Selected Emerging Markets

Tsaurai, Kunofiwa

doi:10.2478/cer-2018-0026

Cited by 9 publications

(8 citation statements)

References 28 publications

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“…Table 4 presents the mean trends of energy consumption and poverty trends in BRICS nations during the period from 1995 to 2018. Mean mortality rate, infant (1000 births) and mean life expectancy at birth, total (years) are the two proxies of poverty used in this study, following Tsaurai (2018).…”

Section: Mean Trend Analysis Of Energy Consumption and Poverty Variablesmentioning

confidence: 99%

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Energy Consumption-Poverty Reduction Nexus in Brics Nations

Tsaurai

2021

IJEEP

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This study investigated the impact of energy consumption on poverty in BRICS using panel data analysis methods (fixed effects, pooled OLS, random effects, FMOLS) with annual data ranging from 1995 to 2018. Whether economic growth is a channel through which energy consumption influences poverty in BRICS was also a subject of investigation in this study? Although there is acknowledgment that energy consumption reduces poverty through economic growth by authors such as Okwanya et al ( 2015), Hussein and Filho (2012) and Okwanya and Abah (2018), there is no dedicated empirical study on the subject matter which exclusively focused on BRICS. Nothing is known about the energy consumption-growth-poverty nexus in BRICS, according to the author's best knowledge. Also, majority of the energy consumption-poverty nexus empirical research wrongly assumed that the two variables (energy consumption and poverty) are linearly linked. Using both mean mortality rate and mean life expectancy as measures of poverty, the study noted that energy consumption reduced poverty in a significant way across all the four panel methods employed in BRICS. Economic growth was also generally found to have reduced poverty in BRICS countries. The complementarity between the two variables (energy consumption and economic growth) had a significant poverty reduction effect in BRICS, in support of the existing literature. BRICS nations are therefore urged to develop and implement policies that ensure more energy consumption and increased economic growth activities if they intend to reduce poverty.

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Section: Mean Trend Analysis Of Energy Consumption and Poverty Variablesmentioning

confidence: 99%

“…Levin et al (2002), Augmented Dick Fuller Fisher Chi Square,Im et al (2003) and Phillip Peron (PP) Chi square test are the four methods used for panel unit root tests. Earlier studies done byTsaurai (2018) andTembo (…”

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confidence: 99%

Energy Consumption-Poverty Reduction Nexus in Brics Nations

Tsaurai

2021

IJEEP

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“…Furthermore, while analyzing how the control variables affect both sustainable development and tourism, respectively, in Models 1 and 2 in Table 8, the lags of domestic credit and economic growth negatively impact both, whereas the lag of population has a positive impact on tourism and sustainable development. Unexpectedly, the research findings of Tsaurai (2022) and Gounopoulos et al (2012), who contend that domestic credit, as a measure of financial development, has a positive impact on tourism, conflict with the idea that domestic credit negatively influences tourism. In a similar vein, the detrimental impact of domestic credit on sustainable development conforms to the findings of Ojeyinka and Osinubi (2022) and Twerefou et al (2017), but contradicts those of Pardi et al (2015).…”

Section: Resultsmentioning

confidence: 99%

Analysis of tourism and sustainable development in MENA economies

2023

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The existing studies suggest that the tourism sector may fast track the achievement of sustainable development due to its ability to guarantee the renewability of natural resources and the preservation of the ecosystem. Scholars also opine that tourist activities involve transportation that utilizes fossil fuels and non‐renewable energy sources. This implies that tourism may contribute to environmental degradation and slow down the achievement of the sustainable development agenda. In this paper, we contribute to this debate by examining the dynamic relationship between tourism and sustainable development in the case of the MENA region. Employing panel vector autoregressive based on the generalized method of moments framework (GMM‐PVAR) on data spanning from 1995 to 2019, we document that there is a positive and dynamic relationship between tourism and sustainable development in the MENA region. Further analysis shows that there is a bi‐causal relationship between the two variables; implying that they have a powerful prediction content of each other. The study recommends that effort should be made to develop pertinent policies to promote ecotourism in the region.

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“…These results are supported by literature. To decisively address the multicollinearity problem and the issue of outliers, this study transformed all the data sets into natural logarithms before analysing it, consistent with other authors who had to deal with similar challenges (Aye and Edoja, 2017;Tsaurai, 2018). Unlike at level, all variables used are integrated of order 1 at first difference.…”

Section: Correlation Analysismentioning

confidence: 91%

Macroeconomic Determinants of Energy Consumption in BRICS (Brazil, Russia, India, China, South Africa)

Tsaurai¹

2021

IJEBA

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Purpose:The study investigates the determinants of energy consumption in BRICS countries. Design/Methodology/Approach: The study is using panel data analysis methodology (fixed effects, FMOLS, pooled OLS, random effects) with panel data ranging from 1996 to 2018. Findings: Under fixed effects, financial development was found to have a significant positive influence on energy consumption in model 1 and a significant negative effect on energy consumption in model 3. Human capital development, financial development, the interaction between financial and human capital development and economic growth were all found to have had a significant positive influence on energy consumption across all the four models. FDI had a significant positive effect on energy consumption in model 1 and 2 whilst infrastructural development had a significant positive influence on energy consumption in model 1, 3 and 4. Under random effects, financial development influenced energy consumption in a significant positive manner in model 2 and 3. Both human capital development and the interaction term separately had a significant positive impact on energy consumption across all the four models whilst trade openness and infrastructural development's influence on energy consumption was positive and significant in model 1 and 3. Yet economic growth and FDI were found to have had a significant positive influence on energy consumption in model 1 and 4. Under FMOLS, four variables which had a significant positive effect on energy consumption across all the four models include human capital development, the interaction term, economic growth and infrastructural development. Practical implications: BRICS countries are therefore urged to design and implement policies aimed at enhancing human capital development, the complementarity between financial and human capital development, economic growth, and infrastructural development in order to increase renewable and fossil fuel energy usage (energy usage that preserves the ecosystem and promotes sustainable growth). Originality value: It considers the fact that the relationship between energy consumption and its determinants is not of a linear nature (is non-linear).

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Complementarity Between Foreign Aid and Financial Development as a Driver of Economic Growth in Selected Emerging Markets

Cited by 9 publications

References 28 publications

Energy Consumption-Poverty Reduction Nexus in Brics Nations

Energy Consumption-Poverty Reduction Nexus in Brics Nations

Analysis of tourism and sustainable development in MENA economies

Macroeconomic Determinants of Energy Consumption in BRICS (Brazil, Russia, India, China, South Africa)

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