Non-Renewable Energy and Macroeconomic Efficiency of Seven Major Oil Producing Economies in Africa

Awodumi, Olabanji Benjamin; Adeleke, Adebowale M.

doi:10.1515/zireb-2016-0004

Cited by 13 publications

(4 citation statements)

References 9 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Because the industrial sector requires a lot of nonrenewable energy consumption, such as fossil fuels, there is a close relationship between the industrial sector and nonrenewable energy consumption (Awodumi and Adeleke, 2016; Shahbaz et al , 2013). Several studies have found that the industrial sector and the use of nonrenewable energy have a negative impact on the environment.…”

Section: Literature Reviewmentioning

confidence: 99%

The ecological footprint of industrial value added and energy consumption in Indonesia

Kurniawan,

Nugroho,

Fudholi

et al. 2023

IJESM

View full text Add to dashboard Cite

Purpose The purpose of this paper is to determine the effect of the industrial sector, renewable energy consumption and nonrenewable energy consumption in Indonesia on the ecological footprint from 1990 to 2020 in the short and long term. Design/methodology/approach This paper uses vector error correction model (VECM) analysis to examine the relationship in the short and long term. In addition, the impulse response function is used to enable future forecasts up to 2060 of the ecological footprint as a measure of environmental degradation caused by changes or shocks in industrial value-added, renewable energy consumption and nonrenewable energy consumption. Furthermore, forecast error decomposition of variance (FEVD) analysis is carried out to predict the percentage contribution of each variable’s variance to changes in a specific variable. Granger causality testing is used to enhance the analysis outcomes within the framework of VECM. Findings Using VECM analysis, the speed of adjustment for environmental damage is quite high in the short term, at 246%. This finding suggests that when there is a short-term imbalance in industrial value-added, renewable energy consumption and nonrenewable energy consumption, the ecological footprint experiences a very rapid adjustment, at 246%, to move towards long-term balance. Then, in the long term, the ecological footprint in Indonesia is most influenced by nonrenewable energy consumption. This is also confirmed by the Granger causality test and the results of FEVD, which show that the contribution of nonrenewable energy consumption will be 10.207% in 2060 and will be the main contributor to the ecological footprint in the coming years to achieve net-zero emissions in 2060. In the long run, renewable energy consumption has a negative effect on the ecological footprint, whereas industrial value-added and nonrenewable energy consumption have a positive effect. Originality/value For the first time, value added from the industrial sector is being used alongside renewable and nonrenewable energy consumption to measure Indonesia’s ecological footprint. The primary cause of Indonesia’s alarming environmental degradation is the industrial sector, which acts as the driving force behind this issue. Consequently, this contribution is expected to inform the policy implications required to achieve zero carbon emissions by 2060, aligned with the G20 countries’ Bali agreement of 2022.

show abstract

Section: Literature Reviewmentioning

confidence: 99%

The ecological footprint of industrial value added and energy consumption in Indonesia

Kurniawan,

Nugroho,

Fudholi

et al. 2023

IJESM

View full text Add to dashboard Cite

show abstract

“…This is due to theses groups realizing the connection between growing carbon emissions and the damage to environmental and human health caused by the increased usage of energy in economic development, particularly energy derived from carbon-related sources. As a consequence, developing countries believe that boosting funding for global warming efforts, which are mostly led by industrial economies, is critical if their economies are to continue growing while using less carbon-intensive energy [21][22][23].…”

Section: Literature Reviewmentioning

confidence: 99%

The Energy Mix Dilemma and Environmental Sustainability: Interaction among Greenhouse Gas Emissions, Nuclear Energy, Urban Agglomeration, and Economic Growth

Rehman

Rădulescu

et al. 2021

Energies

View full text Add to dashboard Cite

In this paper we examined the interaction between greenhouse gas emissions, nuclear energy, coal energy, urban agglomeration, and economic growth in Pakistan by utilizing time series data during 1972–2019. The stationarity of the variables was tested through unit root tests, while the ARDL (autoregressive distributed lag) method with long and short-run estimations was applied to reveal the linkages between variables. A unidirectional association between all variables was revealed by performing a Granger causality test under the vector error correction model (VECM) that was extracted during the short-run estimate. Furthermore, the stepwise least squares technique was also utilized to check the robustness of the variables. The findings of long-run estimations showed that GHG emissions, coal energy, and urban agglomeration have an adversative association with economic growth in Pakistan, while nuclear energy showed a dynamic association with the economic growth. The outcomes of short-run estimations also show that nuclear energy has a constructive association with economic growth, while the remaining variables exposed an adversative linkage to economic growth in Pakistan. Similarly, the Granger causality test under the vector error correction model (VECM) outcomes exposes that all variables have unidirectional association. Furthermore, the outcomes of the stepwise least squares technique reveals that GHG emissions and coal energy have an adverse association with economic growth, and variables nuclear energy and urban agglomeration have a productive linkage to the economic growth in Pakistan. GHG emissions are no doubt an emerging issue globally; therefore, conservative policies and financial support are needed to tackle this issue. Despite the fact that Pakistan contributes less to greenhouse gas emissions than industrialized countries, the government must implement new policies to address this problem in order to contribute to environmental sustainability while also enhancing economic development.

show abstract

“…Developing countries believe that restrictions on carbon-intensive energy are detrimental to their economic expansion goals, implying that industrial economies should increase investments in industrial mitigation programs. In the developing economies, production and consumption of oil and natural gas are key drivers of the economic development, and regulating emissions of carbon dioxide may be problematic since it may ultimately impair the economic progress [16][17][18].…”

Section: Literature Reviewmentioning

confidence: 99%

Energy Crisis in Pakistan and Economic Progress: Decoupling the Impact of Coal Energy Consumption in Power and Brick Kilns

Rehman

Rădulescu

et al. 2021

Mathematics

View full text Add to dashboard Cite

This study aims to examine the impact of coal energy consumption on the economic progress in Pakistan by using annual time series data during 1972–2019. Three-unit root tests were employed to rectify the variables’ stationarity. The quantile regression approach with the extension of cointegration regression test was utilized to check the variables interaction with the economic progress. The outcomes of the quantile regression uncover that coal energy consumption in power sector and coal energy consumption in brick kilns have adverse influence to the economic progress, while total coal energy consumption has a productive association with the economic progress. Similarly, the findings of cointegration regression analysis uncover that via FMOLS (Fully Modified Least Squares) and DOLS (Dynamic Least Squares) that variables coal energy consumption in power sector and brick kilns have an adverse connection with the economic progress, while total coal energy consumption uncover a productive linkage to the economic progress in Pakistan. Pakistan is still facing a deep energy crisis because of the lack of energy production from cheap sources. New possible policies are required in this direction to improve the energy sector by paying more attention to the alternative energy sources to foster the economic progress.

show abstract

Non-Renewable Energy and Macroeconomic Efficiency of Seven Major Oil Producing Economies in Africa

Cited by 13 publications

References 9 publications

The ecological footprint of industrial value added and energy consumption in Indonesia

The ecological footprint of industrial value added and energy consumption in Indonesia

The Energy Mix Dilemma and Environmental Sustainability: Interaction among Greenhouse Gas Emissions, Nuclear Energy, Urban Agglomeration, and Economic Growth

Energy Crisis in Pakistan and Economic Progress: Decoupling the Impact of Coal Energy Consumption in Power and Brick Kilns

Contact Info

Product

Resources

About