Financing renewable energy generation in SSA: Does financial integration matter?

Fotio, Hervé Kaffo; Nchofoung, Tii N.; Asongu, Simplice

doi:10.1016/j.renene.2022.11.047

Cited by 26 publications

(19 citation statements)

References 86 publications

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“…With the world population constantly growing, particularly in developing countries, failure to ensure ecological sustainability could be detrimental to future economic growth and development. As identified in recent studies, one measure for slowing down the rate of GHG emissions is to scale-up investment in green economy and infrastructure (Shahnazi and Shabani, 2021;Mehmood, 2021;Yu et al, 2022;Fotio et al, 2022). Therefore, deploying public borrowing for green economic and infrastructural development can be tagged as borrowing for sustainability.…”

Section: Introductionmentioning

confidence: 99%

“…First, the continent is a minor carbon emitter globally (Aladejare, 2022a;Aladejare and Nyiputen, 2022). However, Africa's emission growth rate has exceeded other regions, such as East and Central Europe (Fotio et al, 2022). It is not unlikely that the continent's GHG emissions could significantly grow in a few years due to the widespread usage of dirty energy across African countries (UN, 2021).…”

Section: Introductionmentioning

confidence: 99%

“…Hence, economies are scaling-up their share of renewable energy adoption to enlarge carbon-free and cost-effective energy supply, downgrade dependence on volatile imported fossil energy, cut the adverse effects of fossil energies, and accelerate the transition to e cient and clean energy. For instance, despite the vast potential of solar energy, only 5% of this potential is exploited globally (Fotio et al, 2022).…”

Section: Introductionmentioning

confidence: 99%

“…By integration, the plan seeks to connect Africa through infrastructures and globalisation, which will aid in better access to wider markets. About 95% of renewable energy projects in the continent are funded through grants, while 3% and below 1% are with loans and private equity, respectively (Fotio et al, 2022). Given that grants are often deployed for small-scale projects, the execution of energy projects on an enormous scale in highly impoverished economies such as Africa demands foreign nancing through debt, foreign investments, development support nancing from foreign organisations, or regional development Banks.…”

Section: Introductionmentioning

confidence: 99%

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Renewable Energy and Ecological Sustainability in Africa: Does Foreign Debt and Financial Globalisation Matter?

Aladejare¹

2023

Preprint

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Since the last decade, ecological preservation has become a critically debated topic in developing and developed nations. Hence, to ensure environmental sustainability, countries and international bodies have been canvassing for measures that support severe restrictions to protect the Earth's biodiversity. Without such an approach, sustaining the ecological quality needed for sustainable growth and development will be a mirage if current greenhouse gas levels are not tamed. Hence, this study investigated the effect of renewable energy consumption on the ecological sustainability of 44 African countries and the accompanying roles of external debt and financial globalisation in the relationship. Second-generation estimation techniques were employed and deduced inferences from the cross-sectional autoregressive distributed lag method used in the study. It was empirically demonstrated that renewable energy is insignificant for ecological sustainability without debt stock and financial globalisation. However, the inclusion of both variables revealed that while renewable energy and financial globalisation accelerated ecological sustainability, external debt worsened it in the short and long-term periods. Therefore, relevant policy measures were proposed in the study. JEL Classification: H54, N77, O3.

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Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Renewable Energy and Ecological Sustainability in Africa: Does Foreign Debt and Financial Globalisation Matter?

Aladejare¹

2023

Preprint

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“…The Sustainable Development Goals (SDGs) 6, 7, 9, 11 and 12 of the United Nations among other things give vent to the energy transition, safe and green products including a reduction in energy intensity. Some recent studies have interrogated the issue of energy transition in SSA (See Fotio et al, 2022; Tenaw, 2022) even some in a country‐specific form (See Oteng & Iledare, 2022). This study has novelty in the area of approach and instrumentation.…”

Section: Introductionmentioning

confidence: 99%

Financing the energy transition in a green sub‐Saharan African (SSA) environment: Does energy intensity matter?

et al. 2022

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Energy has remained essential and inevitable for human life and sustenance. Over the centuries, energy availability and use have concentrated on nonrenewable sources like oil and other natural deposits, which adversely pollute the environment and leave the earth globally warmed. This has necessitated the global agitation to shift from environmentally threatening energy sources (nonrenewable sources) to environmentally friendly sources (renewable sources; Mohsin et al., 2021). This has currently put power sector transformation and enhanced investment in clean energy sources as the fundamental tenets of environmental sustainability and economic development (IEA, 2021). In recent decades, concerted efforts have been made globally in favour of green energy production and consumption. Various meetings have been held with the resultant touchstone and policies. For instance, the

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Natural resources, renewable energy, and governance: A path towards sustainable development

Nchofoung

Ojöng

2022

Sustainable Development

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Based on data for 48 African countries for the period 2000–2020, we analyse the effects of natural resources on renewable energy development and the mediating effects of governance on that relationship. For this purpose, the Ordinary Least Squares method was used to develop a baseline regression model, and the Generalized Method of Moments (GMM) approach was used for the dynamic model regression. Quantile regression was used for robustness checking across the various distributions of renewable energy. First, we find that natural resources enhance renewable energy development in Africa and that the results are robust across alternative specifications of natural resources and governance, except for forest resources, which have a negative effect on renewable energy development. When robustness is checked through a quantile regression analysis, the results show that the positive effect depends on the conditional distribution of natural resources and the type of natural resource under consideration. The negative effect of total natural resources becomes weaker as we move towards higher quantiles. Second, governance interacts with natural resource rents to generate positive effects across different governance specifications and natural resources, except for coal rent. We thereby derive some relevant implications for renewable energy financing in the Global South.

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Financing renewable energy generation in SSA: Does financial integration matter?

Cited by 26 publications

References 86 publications

Renewable Energy and Ecological Sustainability in Africa: Does Foreign Debt and Financial Globalisation Matter?

Renewable Energy and Ecological Sustainability in Africa: Does Foreign Debt and Financial Globalisation Matter?

Financing the energy transition in a green sub‐Saharan African (SSA) environment: Does energy intensity matter?

Natural resources, renewable energy, and governance: A path towards sustainable development

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