Economic Growth, Energy Consumption and Human Capital Formation: Implication for Knowledge-Based Economy

Olopade, Bosede Comfort; Okodua, Henry; Oladosun, Muyiwa; Matthew, Oluwatoyin; Urhie, Ese; Osabohien, Romanus; Adediran, Oluwasogo; Johnson, Olubunmi H.

doi:10.32479/ijeep.8165

Cited by 24 publications

(18 citation statements)

References 22 publications

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“…This is because such tools ensure environmental protection and provide a healthy workforce as well as a sound market, thus sustaining economic growth even during the pandemic (Grabara et al , 2020). As the economies of most ASEAN countries have greatly suffered during COVID-19, implementing the green finance elements may support viable economic growth (Olopade et al , 2020). The effects of green finance may also develop short-term relationships with the adverting factors, but the dominating influence of these factors is widely depicted over economic development (Jabarullah et al , 2020).…”

Section: Literature Reviewmentioning

confidence: 99%

The impact of green finance and Covid-19 on economic development: capital formation and educational expenditure of ASEAN economies

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Tran

2021

CFRI

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PurposeThe purpose of this study is to examine the impact of green finance (i.e. green investment, green security and green credit) along with capital formation and government educational expenditures on the economic development of (ASEAN) countries.Design/methodology/approachThe data were gathered from the central banks of all ASEAN countries and the World Bank Indicators between 2008 and 2019. The fixed-effect model and generalized method of moments were used to check the nexus between the constructs.FindingsThe results revealed that green finance along with capital formation and government educational expenditures have a positive association with the economic development of ASEAN countries.Research limitations/implicationsThe study carries some limitations, even though it addresses the underlying variables comprehensively. These limitations provide opportunities to future researchers and authors to expand the scope and accuracy of their study. This research investigation has been supported by the data collected from a single source. Though data collection is maintained correctly, it is still recommended to the upcoming scholars to acquire data to reconfirm the same findings using multiple data sources. The data collected from using some specific data source may be limited in scope and may hinder the comprehensive elaboration of the underlying variables and their mutual relationship. Therefore, the utilization of multiple sources of data collection gives data sufficient to meet the requirement of an okay quality research study. The study is about the economies of ASEAN countries. It checks the influences of green finance development on economic activities and the country's economic growth in ASEAN countries' economies. Thus, its results are valid only in the economies of these countries, and this research investigation lacks generalizability. For generalizability, the authors must consider the underlying variables in the world's vast economies. They must adopt a standard scale to judge the impacts of green financial development on economic development. Besides, the study analyzes the economic factors, economic conditions and their effects on the country's position in the world economy in the face of a severe epidemic like COVID-19. Thus, the results may be different in the case of the normal situation. So, a general standardized study is recommended to be conducted in the upcoming days.Originality/valueGreen finance has significant capability to improve the global economy, especially amidst the COVID-19 pandemic. This study is beneficial for policymakers to develop policies related to economic development with reference to green finance and also helps future research on a similar topic.

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Section: Literature Reviewmentioning

confidence: 99%

The impact of green finance and Covid-19 on economic development: capital formation and educational expenditure of ASEAN economies

Ngo

Tran

2021

CFRI

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“…The study states that changes in economic growth have a positive effect on energy consumption. The authors Olopade et al (2020) look at the relationship between technology, human capital and economic growth in Nigeria. According to Ozcicek and Agpak (2017), consumption energy is dependent on socioeconomic factors such as education, demographic qualifications, and energy.…”

Section: Literature Reviewmentioning

confidence: 99%

Causality Between Energy Consumption and Economic Growth in the V4 Countries

Krkošková

2021

Technological and Economic Development of Economy

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Energy plays an important role in economic development. This paper deals with the long-run relationship between energy consumption and real GDP for V4 countries from 2005 to 2019. The analysis was based on the unit root tests, co-integration tests, and causality tests. There are two questions. The first question is if energy consumption the stimulus to GDP, resp. energy consumption causes GDP. And the second question is if GDP the stimulus for energy consumption, resp. GDP causes consumption of energy. Energy consumption has an essential role in the economy on both the demand and the supply. It means that there should be a causal relationship from energy consumption to GDP as well as vice versa. Given that in the long run the energy consumption Granger causes the GDP in Slovakia, Hungary, and the Czech Republic, it means that energy consumption could cause economic growth in these countries. The only country where no significant relationship between energy consumption and the GDP has been demonstrated in Poland.

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“…Most countries in West Africa are greatly endowed with vast resources, there is indeed a lot of food and it is believed that the issue of hunger results not from the shortage of food but mainly from the mis-distribution of food (Longe, 2005;. Allocated according to dietary need, the lactovegetarian supply of food supply along with the production reared animals will support up to 85% of West Africa's population (Fan et al, 2000;Alderman and Haque, 2007;Olopade et al, 2020). Researchers found that if poor nations and their people had more purchasing power, they could produce more food.…”

Section: Literature Review and Conceptual Frameworkmentioning

confidence: 99%

Carbon Emissions, Agricultural Output and Life Expectancy in West Africa

Matthew

Owolabi

Osabohien

et al. 2020

IJEEP

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Carbon emissions are basically gaseous substances that are generated from human activities such as the burning of fossil fuels, into the atmosphere, and these emissions affect agricultural output and human health. The rising level of carbon emissions into the atmosphere has become a problem worldwide. Thus, this study examined the effect of carbon emissions on agricultural output and life expectancy in West Africa using data that spanned the period between 2000 and 2018. The study employed the two stage least squares econometric technique. The findings from the study revealed that a 1% increase in carbon emissions bring about a 3.818% reduction in agricultural output, that is, carbon emissions adversely affect agricultural output in West Africa. Also, a 1% increase in carbon emissions bring about a 0.123% increase in life expectancy, that is, carbon emissions boost life expectancy in West Africa. Therefore, this study recommends that the governments of the West African countries should formulate environmental policies that will help mitigate the adverse impact of carbon dioxide emissions on the agricultural sector, and also improve on healthcare delivery in the hospitals so as to reduce the mortality rate, this will help increase life expectancy in West Africa.

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Economic Growth, Energy Consumption and Human Capital Formation: Implication for Knowledge-Based Economy

Cited by 24 publications

References 22 publications

The impact of green finance and Covid-19 on economic development: capital formation and educational expenditure of ASEAN economies

The impact of green finance and Covid-19 on economic development: capital formation and educational expenditure of ASEAN economies

Causality Between Energy Consumption and Economic Growth in the V4 Countries

Carbon Emissions, Agricultural Output and Life Expectancy in West Africa

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