Sustainable Energy Supply, Finance, and Domestic Investment Nexus in West Africa

Kolawole, Kayode David; Ajayi, Micheal Adebayo; Alhassan, Abdulkareem; Bekun, Festus Vıctor; Uzuner, Gizem

doi:10.3390/su141911882

Cited by 8 publications

(3 citation statements)

References 37 publications

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“…Thus, investment in large-scale projects is required to be environmentally friendly. Several studies have placed emphasis on green investment and various strategies of curbing environmental degradation emanating from carbon dioxide and other Green House Gas emissions (Adedoyin et al, 2021;Mujtaba et al, 2022;Baloch et al, 2021;Agozie et al, 2022;Kolawole et al, 2022). This article addresses the environmental problems of large-scale projects not only as interregional intra-Russian or inter-sectoral, but also at a high level, according to the system paradigm of Kornai (2002).…”

Section: Introductionmentioning

confidence: 99%

Analysis and Synthesis of Alternative Solutions to Environmental Problems Associated with Large-scale Projects

Davidovich

Jianan²,

Bekun³

2023

IJEEP

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In this study the environmental problems in the large-scale project called "Ecology of the Angaro-Yenisei region" are addressed. A description of various approaches to assess the program of conservation and restoration of the Yenisei as the basis of the ecological potential of the Angaro-Yenisei region is presented. A justification is given for taking into account the uncertainty in such an assessment. The present study suggests three stages of assessment for different levels, macro-, meso- and microlevel. The estimates of the previous assessment level are the initial information for the lower level, which allows a gradually reduction of the degree of uncertainty. At the first stage, the goals of the program were developed and ranked by expert assessment methods. The second stage consisted in analyzing the National Project called "Ecology of Russia," composed of 11 interconnected federal projects. A mathematical model of the problem of optimal project management in conditions of uncertainty is presented. At the third stage, a hybrid model of assessing a large ecological project from the logical-descriptive model created at the first stage and the mathematical model of stage 2 is considered. Similar models, in the creation of which the authors took part, were used in the assessment of large-scale railway projects. More specifically, with the help of one of them, an analysis of the development of the Asian part of the Russian Federation was carried out by the Siberian branch of the Russian Academy of Sciences. In conclusion, the need of the use of mathematical methods at various stages of assessing large-scale environmental projects from their initiation to implementation is justified

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Section: Introductionmentioning

confidence: 99%

Analysis and Synthesis of Alternative Solutions to Environmental Problems Associated with Large-scale Projects

Davidovich

Jianan²,

Bekun³

2023

IJEEP

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“…According to Hall, Foxon and Bolton (2016), nancial sectors are germane for enhancing energy transitions of any nation. Kolawole et al, (2022) asserts that the nancial sector is crucial to the transformation of the supply-side structure and that banks should keep lending to eligible infrastructure enterprises while stopping to fund "zombie" industries. Savings rates, investment choices, technical advancement, and ultimately production choices for energy rms may all be in uenced by nancial systems (Levine, 2004).…”

Section: Introductionmentioning

confidence: 99%

Modelling the nexus between finance, government revenue, institutional quality and sustainable energy supply in West Africa

Kolawole

Abdulmumin

Uzuner

et al. 2023

Preprint

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The present study examined the relationship between finance, government revenue, institutional quality and sustainable energy supply in West Africa countries over annual frequency period from 1990 to 2020. To achieve the outlined nexus between study variables, the present study leverages on a battery of panel analysis for robust inferences. The econometric estimators employed are panel random effect regression, generalized method of moment technique. Furthermore, panel Granger causality test is utilized to analyze the direction of flow among the variables for the study. Empirical results revealed that financial development is a significant determinant of energy supply in West Africa countries while a negligible effect was reported for institutional quality and sustainable energy supply. Thus, the present study concludes that finance from financial sector is important in ensuring sufficient energy supply. To this end, this study therefore, recommends that incentives should be given to financial institutions that fund energy generation and transmission as financial development is seen to be significant on energy supply.

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“…Gallagher and Irwin (2014) argue that the development of the banking system in China can effectively facilitate international investment by Chinese firms. David et al (2022) finds that credit to the private sector significantly impacts domestic investment in West Africa. (2) Financial deepening is accompanied by the abundance and diversification of financial products which enhance the diversity and flexibility of corporate financing.…”

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confidence: 99%

Financial Deepening, OFDI and Economic Growth: Based on the Perspectives of Both China and Host Countries

Cai

Shi

Wang

2023

IJFR

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Based on the perspectives of both China (home country) and host countries (economies), a financial deepening indicator system and an economic growth indicator system are constructed, the mutual influence mechanism between financial deepening (FD), outward foreign direct investment flows (OFDI) and economic growth (EG) are studied. Firstly, from the perspective of China, based on Error Correction Model (ECM) and Vector Error Correction Model (VECM), the conclusions received are as follows. (i) China's financial deepening and OFDI have a long-run positive impact on China's economic growth. (ii) Further analysis also confirms that reforms related to financial deepening have positive policy effects on promoting OFDI in China. Secondly, from the perspective of the interaction between China and host countries (economies), based on Time-varying Spatial Durbin Model (TVSDM), the conclusions received are as follows. (i) In general, China's OFDI to host countries plays a positive intermediary role in the process of financial deepening for economic development in host countries. (ii) Three aspects (FD, OFDI, EG) have different degrees of spatial autocorrelation and spatial spillover effects on each other, which are positive in general. (iii) Further analysis also found heterogeneity in the above conclusions for high-income and low-income host countries individually. In a word, a comprehensive analysis framework of three aspects (financial deepening, OFDI and economic growth) is finally constructed, which has important implications for overseas investments and financial support to the real economy.

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Sustainable Energy Supply, Finance, and Domestic Investment Nexus in West Africa

Cited by 8 publications

References 37 publications

Analysis and Synthesis of Alternative Solutions to Environmental Problems Associated with Large-scale Projects

Analysis and Synthesis of Alternative Solutions to Environmental Problems Associated with Large-scale Projects

Modelling the nexus between finance, government revenue, institutional quality and sustainable energy supply in West Africa

Financial Deepening, OFDI and Economic Growth: Based on the Perspectives of Both China and Host Countries

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