The production and consumption of oil in Africa: The environmental implications

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167

The global community is concerned about several environmental changes. Climate change, desertification, destruction of tropical rainforests, erosion of coastal ecosystems, soil resource loss, overfishing, species extinction, and loss of biodiversity are all contributing factors. Many commentators contend that these issues make up a cumulative, sustained human impact on the environment that has profoundly changed the surface of the Earth. We explore the effects of alternative energy sources, natural resources, and government consumption expenditures on French environmental sustainability from 1990 through 2018 under the environmental Kuznets curve (EKC) framework. We apply advanced econometric methodologies for empirical analysis. Our long-run estimates indicate that alternative and nuclear energy, natural resources, and government final consumption expenditures are negatively associated with CO 2 emissions, while economic growth is positively related to CO 2 emissions. CO 2 emissions are negatively correlated with the square root of economic growth (EKC), thereby supporting EKC. As economic growth increases, environmental sustainability deteriorates. Eventually, EKC will make a positive contribution to environmental improvement. Future research directions, research limitations, and policy implications are discussed.

Section: Introductionmentioning

confidence: 99%

Alternative energy and natural resources in determining environmental sustainability: a look at the role of government final consumption expenditures in France

Azam¹,

Khan

Ali

2022

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167

“…Following these pioneering studies, the researchers tested the effects of different parameters, especially energy consumption, on the environment. Many parameters like foreign direct investments, renewable energy, natural resources, urbanization, tourism, and institutional quality have been widely used to explain ED (Katircioglu et al 2020 ; Zakari et al 2022c ).…”

Section: Introductionmentioning

confidence: 99%

Does income inequality increase the ecological footprint in the US: evidence from FARDL test?

Üzar

Eyüboğlu

2022

In recent years, there has been a great interest in identifying determinants of environmental degradation. Although the effects of many economic, social, and political factors on the environment have been studied, the evidence of the relationship between income distribution and the environment is still quite scant. Looking at previous studies, the effect of income distribution on carbon emissions has generally been examined. In the last two years, a new line of research has emerged that investigates the links between income distribution and ecological footprint. Therefore, we investigate the effect of income inequality on the ecological footprint also considering its components. In this study, Fourier ARDL and Fourier ADL (new econometric techniques) are utilized to determine the ecological footprint-income inequality nexus in the US covering the period 1965–2017. We included economic growth and energy consumption as explanatory variables in the model. In this context, the study is a pioneering study examining the impact of income inequality on the ecological footprint as an environmental indicator in the US. The empirical results of Fourier ARDL and Fourier ADL denote that income inequality, economic growth, energy consumption, ecological footprint, and its components (cropland, fishing ground, and carbon) are cointegrated. Besides, it is found that income inequality has a positive effect on ecological footprint and cropland. Results denoted that economic growth and energy consumption have a positive and significant effect on ecological footprint and cropland, fishing ground, and carbon footprint components.

“…Based on a database of thirty International Energy Agency (IEA) members, Khan and Hou ( 2021a , b ) demonstrate the critical role that environmental sustainability plays in pollution reduction. Furthermore, environmental sustainability is one of the most important factors in the pursuit of sustainable development goals (Zakari et al 2022a , b , c ). Energy security and environmental sustainability play a critical role in alleviating poverty (Taghizadeh-Hesary et al 2022 ) and sustainable economic growth (Arslan et al 2022 ).…”

Section: Introductionmentioning

confidence: 99%

“…Energy security and environmental sustainability play a critical role in alleviating poverty (Taghizadeh-Hesary et al 2022 ) and sustainable economic growth (Arslan et al 2022 ). In the literature, there is a vast number of empirical studies on determinants of environmental sustainability, such as the role of green innovation (Zakari et al 2022a , b , c ); abundant energy resources (Zakari et al 2022a , b , c ) and alternative and nuclear energy (Khan et al 2022a , b ); economic growth, international trade, clean energy investment (Lyu et al 2021 ); industrial value-added, capital formation, urbanization, population growth, biocapacity (Yang and Khan 2021 ); and the energy consumption, tourism growth (Khan and Hou 2021a ), or the partnership between countries (Tawiah et al 2021 ). A recent study has highlighted the importance of sustainable consumption and production of oil in promoting environmental performance (Zakari et al 2022a , b , c ).…”

Section: Introductionmentioning

confidence: 99%

“…In the literature, there is a vast number of empirical studies on determinants of environmental sustainability, such as the role of green innovation (Zakari et al 2022a , b , c ); abundant energy resources (Zakari et al 2022a , b , c ) and alternative and nuclear energy (Khan et al 2022a , b ); economic growth, international trade, clean energy investment (Lyu et al 2021 ); industrial value-added, capital formation, urbanization, population growth, biocapacity (Yang and Khan 2021 ); and the energy consumption, tourism growth (Khan and Hou 2021a ), or the partnership between countries (Tawiah et al 2021 ). A recent study has highlighted the importance of sustainable consumption and production of oil in promoting environmental performance (Zakari et al 2022a , b , c ). While both determinants and influences of environmental sustainability have attracted much attention from scholars, many aspects of environmental sustainability still require further investigation.…”

Section: Introductionmentioning

confidence: 99%

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Dynamic interlinkages between the crude oil and gold and stock during Russia-Ukraine War: evidence from an extended TVP-VAR analysis

2022

The Russia-Ukraine significantly influences the oil market. We employ a time-varying parameter vector autoregression (TVP-VAR) in combination with an extended joint connectedness approach to identify the sources of the oil market’s volatility by studying interlinkages between the crude oil and gold and stock market by characterizing the connectedness of four markets starting from January 1, 2018 to April 8, 2022. Our attention is mostly paid to the period marked by the event that Russia invaded Ukraine on 24 February, 2022. Our results demonstrate that the war shocks appear to influence the system-wide dynamic connectedness, which signifies the interlinkages among the considered markets. Net total directional connectedness suggests that the oil and gold markets appear to be the net transmitter of spillover shocks in the system. However, there are shifts in the roles of these two markets during the time of the Russia-Ukraine war shock. Pairwise connectedness highlights the significance of the oil market in transmitting the adverse influences of shocks to other markets, especially during the Russia-Ukraine war.