The asymmetric effect of financial development on energy consumption in sub-Saharan Africa

Thebuho, Winnie; Opperman, Pieter; Steenkamp, Lee-Ann

doi:10.1080/23322039.2022.2095770

Cited by 6 publications

(2 citation statements)

References 79 publications

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“…McFarlane et al (2022), Thebuho et al (2022) and Qamruzzaman and Jianguo (2020), in the novelty of their study and in apparent departure from others, investigated the energy and financial development nexus from an asymmetric perspective. This is with an assumption that negative and positive variations in financial development have the proclivity of eliciting not just symmetric but also asymmetric reactions from energy use.…”

Section: Review Of Literaturementioning

confidence: 99%

Spatiotemporal analysis of energy consumption and financial development in African OPEC countries

Nwafor

Kalu

Arize

et al. 2022

IJESM

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Purpose This study aims to investigate in a country-specific comparative and panel form, the impact of energy use on financial development in Organisation of Petroleum Exporting Countries (OPEC)-African countries of Algeria, Gabon, Libya and Nigeria. Design/methodology/approach With data sets covering the period 1980 to 2020, this study used a combination of country-specific autoregressive distributed lag model (ARDL) and panel-ARDL as well geo-maps to show the spatiotemporal nuances of the investigated countries. Findings It was discovered across the investigated countries and in the panel framework that energy consumption significantly impacts both bank development and institutional development, which are subsets of financial development. In addition, evidence in favor of adjustment of financial development to the shocks and dynamics of energy consumption was found. Practical implications Integrative developmental drive for the two sectors can enhance growth and value-chain interactions for the imperatives of the overall growth and development of the OPEC-African countries. Originality/value This study adds to the literature on finance and energy development by the introduction of the spatiotemporal analysis.

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Section: Review Of Literaturementioning

confidence: 99%

Spatiotemporal analysis of energy consumption and financial development in African OPEC countries

Nwafor

Kalu

Arize

et al. 2022

IJESM

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“…Therefore, coordinated actions have been required to meet the COP26 energy security agenda and the rising global energy demand and consumption. In this regard, most countries agree to consume energy efficiently, significantly reducing coal power and fossil fuel consumption to achieve carbon neutrality to global climate goals [7].The governments of BRICS economies need to make efforts in energy conservation policies. Industries and businesses need to treat energy conservation as an obligation, rather than taking it as an opportunity for organizational transformation and technological development.…”

Section: Introductionmentioning

confidence: 99%

The non-linear relationship between globalization, financial development and energy consumption: Evidence from BRICS economies

Imran,

Liu,

Saud

et al. 2023

PLoS ONE

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In the era of globalization, financial development plays a key role in socioeconomic and environmental development. However, its adverse consequences on human life, environmental hazards, and high energy consumption cannot be ignored. Thus, this study investigates the non-linear relationship between globalization, financial development, and energy consumption for BRICS economies. In doing so, we have applied second-generation tests to identify cross-sectional dependence in the data. Cross-sectional augmented Dickey-Fuller (CADF) and Cross-sectional Im-Pesaran Shin (CIPS) have been performed to find the stationary level of variables. The long-term equilibrium link between the investigated variables has been established in continuance using the Westerlund Cointegration test. The Dynamic Seemingly Unrelated Regression (DSUR) indicates that U-shaped relationships exist for financial development and globalization with energy consumption. Conversely, there is an inverted U-shaped relationship exist between economic growth and energy consumption in BRICS. The Dumitrescu-Hurlin panel causality test findings show that a unidirectional link runs from energy consumption to financial development, economic growth to energy consumption, and globalization towards energy usage. Important policy implications have also been discussed.

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Does poverty respond asymmetrically to financial development? Evidence from India using asymmetric cointegration and causality tests

Khanday,

Wani,

Tarique

et al. 2023

Qual Quant

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The asymmetric effect of financial development on energy consumption in sub-Saharan Africa

Cited by 6 publications

References 79 publications

Spatiotemporal analysis of energy consumption and financial development in African OPEC countries

Spatiotemporal analysis of energy consumption and financial development in African OPEC countries

The non-linear relationship between globalization, financial development and energy consumption: Evidence from BRICS economies

Does poverty respond asymmetrically to financial development? Evidence from India using asymmetric cointegration and causality tests

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