The Role of Renewable Energy and Ecological Footprint on Economic Growth in Francophone African Countries in presence of Institutions

Abstract

This paper targets to examine the impact of renewable energy and ecological footprint on economic growth in 14 selected French-speaking countries in Africa. The study contributes to the ongoing debate in the literature on environment growth-nexus by providing evidence that economic growth emerges with environmental degradations and can be improved when there is a robust institutional framework. The present research used the generalized method of moments (GMM) to assess a dynamic growth model with data from 2007 to 2015. The results demonstrate that renewable energy is significant and negatively related to economic growth, which implies that renewable energy sources lower the per capita income growth in these countries. Meanwhile, the ecological footprint is positive and statistically significant in impacting economic growth in the long run. For institutions, we find that voice and accountability, political stability, and the rule of law are positive and statistically significant in influencing economic growth. Consequently, it is recommended that policymakers in this region develop dual policies that raise institutions' quality with minimal emissions of greenhouse gases.

Rethinking the governance of geothermal power industry: The roadmap for sustainable development

“…It, therefore, means that an increased level of additional voice and increased level of accountability will therefore serve as a boost to the geothermal power industry. These findings support the views of Nulambeh and Eryigit (2021), Asongu and Odhiambo (2021), and Agabo et al (2021) the studies conclude that geothermal occupy an important space in the emerging social governance. The implication of this is that there will be an increased level of development in the geothermal energy industry when there is a higher level of confidence in selecting government renewable energy strategies by the citizens as well as facilitating the freedom of expression, a considerable level of freedom regarding belonging to the association, and a good level of free media report over environmental pollution and climatic changes.…”

“…It, therefore, means that an improvement in the area of extra voice and improving the level of accountability among the 13 EU economies could improve the increased level of growth in the geothermal energy industry. This result conforms to the view of Agabo et al (2021), Asongu and Odhiambo (2021), and Nulambeh and Eryigit (2021), the studies asserted that there is a future for geothermal when appropriate social governance is put in place. The implication is that there will be growth in the geothermal industry if the citizens of the 13 EU economies could have an increased level of confidence in terms of their participation in selecting government strategies on renewable energy.…”