Yazar "Adebayo, Tomiwa Sunday" seçeneğine göre listele
Listeleniyor 1 - 18 / 18
Sayfa Başına Sonuç
Sıralama seçenekleri
Öğe Another look at the nexus between economic growth trajectory and emission within the context of developing country: fresh insights from a nonparametric causality-in-quantiles test(Springer, 2023) Adebayo, Tomiwa Sunday; Bekun, Festus Victor; Rjoub, Husam; Agboola, Mary Oluwatoyin; Agyekum, Ephraim Bonah; Gyamfi, Bright AkwasiAchieving environmental sustainability has become a global concern amidst increasing climate change threat. Using quarterly frequency data for the case of Russia from 1992 to 2018, the present study explores the interaction between disaggregated energy consumption (renewable energy and non-renewable energy), trade flow and economic growth on a broader measure for environmental degradation (ecological footprint). The choice of the variables draws strength from initiative of the United Nations Sustainable Development Goals (UN-SDG, 7, 8 11 and 13) for responsible energy consumption and clean energy consumption while mitigating climate change issues. The study applied the quantile-on-quantile regression (QQR) and nonparametric causality-in-quantiles to capture these associations. The outcomes from the QQR disclosed that in the majority of the quantiles, trade openness and renewable energy use contribute to environmental sustainability, while nonrenewable energy amplifies ecological footprint. Furthermore, growth in Russia escalates its ecological footprint. Moreover, in the majority of the quantiles, all the exogenous variables can predict ecological footprint. Given the outcomes of this study, it outlines the need for a paradigm shift for alternative and clean energy consumption in Russian energy mix amidst its economic growth trajectory while accounting for green-development approaches. Pathways to fully achieve the sustainability targets are carefully outlined in the concluding section.Öğe Another outlook into energy-growth nexus in Mexico for sustainable development: Accounting for the combined impact of urbanization and trade openness(Wiley, 2023) Adebayo, Tomiwa Sunday; Bekun, Festus Victor; Ozturk, Ilhan; Haseki, Murat IsmetThis study corroborates the importance of United Nations Sustainable Development Goal 7 (SDG-7), intended to ensure access to affordable, reliable, sustainable energy for all, and SDG-8, designed to promote decent work and sustainable economic growth. This article is motivated by the highlighted SDGs and empirically explores the long-run and causality relationship between energy consumption, urbanization, trade openness, and economic growth for annual frequency data from 1965 to 2021 for the case of Mexico. To this end, we leverage the use of fully modified ordinary least squares, dynamic ordinary least squares, and canonical regression estimation methods, while for the direction of causality, the gradual shift and wavelet coherence methods are used. According to the Autoregressive distributed lag (ARDL), the bounds test traces a long-run relationship between the outlined variables over the sampled period. Empirical evidence validates the energy-induced growth hypothesis. This result resonates with the causality analysis, where energy consumption drives economic growth one way in Mexico. This suggests that Mexico cannot embark on energy-conservative policies, as such actions will hurt economic progress. In addition, unidirectional causality is seen between urbanization, trade openness, and economic growth. These findings have far-reaching implications for economic growth and macroeconomic indicators in Mexico. More insights are highlighted in the concluding section.Öğe Beyond environmental Kuznets curve and policy implications to promote sustainable development in Mediterranean(ELSEVIER, RADARWEG 29, 1043 NX AMSTERDAM, NETHERLANDS, 2021) Gyamfi, Bright Akwasi; Adebayo, Tomiwa Sunday; Bekun, Festus Victor; Agyekum, Ephraim Bonah; Kumar, Nallapaneni Manoj; Alhelou, Hassan Haes; Al-Hinai, AmerIn acknowledgment of the devastating consequences of environmental deterioration, the Mediterranean members are committed to adopt the 2015 treaty action plans of the Paris Climate Agreement (COP21) as carbon dioxide emission (CO2) are on the rise in the Mediterranean region, which seems to be a serious challenge to our world’s environment. To this end, our study examined the impact of Foreign Direct Investment (FDI) on environmental degradation for the Mediterranean members for the period between 1995 to 2016. However, variables such as, financial development, economic growth, renewable energy and fossil fuel were further examined by the use cross-sectional-Panel pooled Auto Regressive Distributed Lag methodology, Augmented Mean Group (AMG) and Dumitrescu and Hurlin panel causality test was used for causality analysis. The co-integration results from Westerlund (2007) shows a long-run equilibrium relationship between highlighted variables. The empirical result revealed a negative relation between FDI and CO2 indicating pollutant Hallo Hypothesis (PHH). Moreover, income and its square show an inverted U-Shaped curve indicating environmental Kuznets curve (EKC) hypothesis. Both financial development and renewable energy indicated an adverse association with CO2 emission whereas fossil fuel had a positive relationship with emissions. However, there was a feedback causality among income and carbon emission as well as financial development and carbon emission. Furthermore, we observe that FDI and carbon emission, renewable energy and carbon emission, as well as fossil fuel and carbon emission were found to have one-way causal relationship. Overall, the study suggests some policy prescriptions including the implementation of conservation initiatives and the establishment of clean energy regulation and strategies for the investigated bloc.Öğe Coal energy consumption beat renewable energy consumption in South Africa: Developing policy framework for sustainable development(PERGAMON-ELSEVIER SCIENCE LTD, THE BOULEVARD, LANGFORD LANE, KIDLINGTON, OXFORD OX5 1GB, ENGLAND, 2021) Adebayo, Tomiwa Sunday; Awosusi, Abraham Ayobamiji; Bekun, Festus Victor; Altuntaş, MehmetGlobally we are at a crossroad whereby energy production and consumption in themselves is partly blamed for climate change issues and global warming menace. The question that comes to heart is do we stop seeking energy production and consumption? of course no. Thus, there is a need for innovation on part of economies as they seek energy for sustainable development. This country-specific study focuses on South African, which reflects the above highlights menace in no small measure where her economic growth trajectory is plagued with high CO2 emission. To this end, we explore the nexus between coal energy consumption, economic growth, renewable energy consumption and CO2 emission between annual periods of 1980e2017. This study applied a battery of econometric techniques to underscore the relationship between the outlined variables. According to the ARDL bounds test to cointegration in conjunction with Kripfganz and Schneider (2018) critical approximation p-values both affirm long-run equilibrium relationship between study variables. Empirical evidence gives credence to the growthinduced pollution emission in South Africa as reported by the Autoregressive distributed lag Method, fully modified ordinary least squares and dynamic ordinary least squares as robustness test for soundness of analysis. This finding suggests that South Africa's economic growth trajectory is not clean. This preposition is resonated with the result of coal energy consumption also dampening environmental quality. Financial development shows strong statistical strength to improve the quality of the environment. These outcomes are indicative for policymakers as there is urgent need to energy transition from conventional energy based on fossil fuel (coal energy) to renewable energy mix which is more environmentally friendly should be pursued in South Africa.Öğe Determinants of carbon emissions in Argentina: The roles of renewable energy consumption and globalization(ELSEVIER, RADARWEG 29, 1043 NX AMSTERDAM, NETHERLANDS, 2021) Yuping, Li; Ramzan, Muhammad; Xincheng, Li; Murshed, Muntasir; Awosusi, Abraham Ayobamiji; Bah, Sununu Ibrahim; Adebayo, Tomiwa SundayThis study aimed to evaluate the dynamic effects of globalization, renewable energy consumption, non-renewable energy consumption, and economic growth on carbon-dioxide emission levels in Argentina over the 1970–2018 period. The econometric methodology considered in this study involved applications of methods that are robust to handling structural break problems in the data. Among the major findings, the Maki cointegration, with multiple structural breaks, analysis revealed long-run associations between carbon-dioxide emissions, renewable and non-renewable energy consumption, globalization, and economic growth. The elasticity estimates from the Autoregressive Distributed Lag model analysis showed evidence of renewable energy consumption and globalization reducing the emissions while non-renewable energy consumption was found to boost the emissions, both in the short- and long-run. Besides, globalization and renewable energy consumption were found to jointly reduce the emissions while globalization and non-renewable energy consumption were found to jointly boost the emissions in the long-run only. Moreover, the environmental Kuznets curve hypothesis was also verified in this study. Based on these key findings, several critically important policies are recommended.Öğe Determinants of consumption-based carbon emissions in Chile: an application of non-linear ARDL(SPRINGER HEIDELBERG, TIERGARTENSTRASSE 17, D-69121 HEIDELBERG, GERMANY, 2021) Adebayo, Tomiwa Sunday; Udemba, Edmund Ntom; Ahmed, Zahoor; Kırıkkaleli, DervişIn recent years, a growing number of scholars have employed various proxies of environmental degradation to understand the reasons behind rising environmental degradation. However, very few studies have considered consumption-based carbon emissions, even though a clear understanding of the impact of consumption patterns is essential for redirecting the pattern to more sustainable consumption. Thus, this study takes a step forward by using consumption-based carbon emissions (CCO2) as a proxy of environmental degradation using the novel non-linear ARDL technique for Chilefrom 1990 to 2018. To the best understanding of the investigators, no prior studies have investigated the drivers of consumption-based carbon emissions utilizing non-linear ARDL. The study employed ADF and KSS (non-linear) tests to check the data series’ stationary level. Additionally, the symmetric and asymmetric ARDL approaches are utilized to explore cointegration and long-run linkages. According to the results, there is no symmetric cointegration among the variables; however, the empirical estimates reveal a long-run asymmetric connection between the indicators and CCO2 emissions. The novel results from the asymmetric ARDL indicate that negative and positive changes in economic growth deteriorate the quality of the environment. Interestingly, a reduction in economic growth makes a more dominant contribution to environmental degradation. Moreover, positive changes in renewable energy usage improve the quality of Chile’s environment, inferring that the country can achieve a reduction in environmental degradation by boosting renewable energy consumption. Surprisingly, the study found that technological innovation is ineffective in reducing consumption-based carbon emissions, which implies that Chile’s technological innovation is not directed towards manufacturing green technology. Finally, the policy implications are discussed with respect to reducing consumption-based carbon emissions.Öğe Do financial development, foreign direct investment, and economic growth enhance industrial development? Fresh evidence from Sub-Sahara African countries(Springer Heidelberg, 2023) Appiah, Michael; Gyamfi, Bright Akwasi; Adebayo, Tomiwa Sunday; Bekun, Festus VictorThis study investigates the impact of financial development, economic growth, and foreign direct investment on enhancing industrial growth for a panel of selected Sub-Sahara African (SSA) countries from 1990-2017. However, the present study enriches our understanding of financial development by employing a new comprehensive index focused on the accessibility, scope, and productivity of capital systems and banking institutions and incorporated foreign direct investment and economic growth as significant industrial growth drivers in the selected countries. A more robust technique Augmented Mean Group (AMG) and Common Correlated Effect Mean Group (CCEMG), were employed to access the long-run relationship among the understudy variables. Further empirical results shows that financial development and economic growth enhance industrial development with finance exhibiting signifcance while foreign direct investment is seen as adverse. Moreover, a two-way causality was obtained between industrialization and financial development while both foreign direct investment and economic growth had a one-way causality relationship with industrialization. Thus, our study implies that the government officials within these countries must provide a suitable environment for the public, private partnerships, i.e. private sector, which is the backbone for industrial development.Öğe Does it take international integration of natural resources to ascend the ladder of environmental quality in the newly industrialized countries?(ELSEVIER SCI LTD, THE BOULEVARD, LANGFORD LANE, KIDLINGTON, OXFORD OX5 1GB, OXON, ENGLAND, 2022) Adebayo, Tomiwa Sunday; Onifade, Stephen Taiwo; Alola, Andrew Adewale; Muoneke, Obumneke BobAmong the new revelation in the natural resources-environment and climate change nexus literature is the criticality of ascending the environmental sustainability ladders of the industrialized economies such as the newly industrialized countries (NICs). This study considers the panel of top ten NICs (Brazil, China, India, Mexico, Malaysia, Philippines, South Africa, Turkey, Indonesia, and Thailand) by utilizing the novel Method of Moments Quantile Regression (MMQR) and other approaches including the Fully Modified Ordinary Least Square (FM-OLS), Dynamic Ordinary Least Square (D-OLS), and the Fixed-effects Ordinary Least Square (FE-OLS) to analyze the related dataset between 1990 and 2018. The combined empirical approaches help to measure the countries’ drive for carbon neutrality. With a startling and unanimous evidence from the employed empirical techniques, natural resource rent is detrimental to the global goal carbon neutrality in the examined panel countries. However, there is a significant relieve that is brought about when globalization moderate the effect of natural resource rent on carbon emission. Another favorable outlook from the study is that economic growth and environmental nexus yields the affirmative validity of environmental Kuznets curve while renewable energy utilization and globalization independently promotes environmental quality in the examined panel countries. Therefore, the result from the study favours a more relaxed border to allow international integration of economic and financial aspects especially for the natural resources-related and environmental-friendly goods and services.Öğe Economic performance of Indonesia amidst CO2 emissions and agriculture: a time series analysis(SPRINGER HEIDELBERG, TIERGARTENSTRASSE 17, D-69121 HEIDELBERG, GERMANY, 2021) Adebayo, Tomiwa Sunday; Akinsola, Gbenga Daniel; Kırıkkaleli, Derviş; Bekun, Festus Victor; Umarbeyli, Şükrü; Osemeahon, Oseyenbhin SundayTo minimize the awful situation confronting the entire globe, the global warming danger has raised the intensity of consciousness from all areas of life. Therefore, the research assesses the impact of CO2 emissions and energy use on economic performance and considers trade openness, urbanization, and agriculture in Indonesia utilizing data covering the period from 1965 to 2019. The current research employed the dynamic ordinary least square (DOLS) and autoregressive distributed lag (ARDL) tests to capture the long-run association between these economic indicators. Furthermore, the gradual shift and wavelet coherence tests are utilized to capture the direction of causality. The ARDL bound test discloses a long-run interconnection among the variables of interest. The outcomes of the ARDL and DOLS depict that CO2 emissions, agriculture, energy use, and urbanization trigger economic growth. Moreover, the wavelet coherence test findings revealed a positive correlation between economic growth and urbanization, CO2 emissions, agriculture, and energy consumption. Furthermore, there is evidence of a weak and positive correlation between economic growth and trade openness. The gradual shift causality test outcomes disclosed that economic growth can predict urbanization and energy consumption, while agriculture can predict economic growth. These outcomes have far-reaching significance for economic growth and the selected variables in Indonesia.Öğe Effect of Two Different Heat Transfer Fluids on the Performance of Solar Tower CSP by Comparing Recompression Supercritical CO2 and Rankine Power Cycles, China(MDPI, ST ALBAN-ANLAGE 66, CH-4052 BASEL, SWITZERLAND, 2021) Agyekum, Ephraim Bonah; Adebayo, Tomiwa Sunday; Bekun, Festus Victor; Kumar, Nallapaneni Manoj; Panjwani, Manoj KumarChina intends to develop its renewable energy sector in order to cut down on its pollution levels. Concentrated solar power (CSP) technologies are expected to play a key role in this agenda. This study evaluated the technical and economic performance of a 100 MW solar tower CSP in Tibet, China, under different heat transfer fluids (HTF), i.e., Salt (60% NaNO3 40% KNO3 ) or HTF A, and Salt (46.5% LiF 11.5% NaF 42% KF) or HTF B under two different power cycles, namely supercritical CO2 and Rankine. Results from the study suggest that the Rankine power cycle with HTF A and B recorded capacity factors (CF) of 39% and 40.3%, respectively. The sCO2 power cycle also recorded CFs of 41% and 39.4% for HTF A and HTF B, respectively. A total of 359 GWh of energy was generated by the sCO2 system with HTF B, whereas the sCO2 system with HTF A generated a total of 345 GWh in the first year. The Rankine system with HTF A generated a total of 341 GWh, while the system with B as its HTF produced a total of 353 GWh of electricity in year one. Electricity to grid mainly occurred between 10:00 a.m. to 8:00 p.m. throughout the year. According to the results, the highest levelized cost of energy (LCOE) (real) of 0.1668 USD/kWh was recorded under the Rankine cycle with HTF A. The lowest LCOE (real) of 0.1586 USD/kWh was obtained under the sCO2 cycle with HTF B. In general, all scenarios were economically viable at the study area; however, the sCO2 proved to be more economically feasible according to the simulated results.Öğe Effects of economic complexity, economic growth, and renewable energy technology budgets on ecological footprint: the role of democratic accountability(SPRINGER HEIDELBERG, TIERGARTENSTRASSE 17, D-69121 HEIDELBERG, GERMANY, 2022) Ahmed, Zahoor; Adebayo, Tomiwa Sunday; Udemba, Edmund Ntom; Murshed, Muntasir; Kırıkkaleli, DervişThe economic structure of countries can infuence economic growth, energy demand, and environmental footprints. However, the literature on economic complexity and ecological footprint (EFP) nexus is scarce. Besides, democracy is an important factor that may afect environmental policies and environmental sustainability. Hence, this paper investigates the efect of democracy, economic complexity, and renewable energy technology budgets on the EFP in G7 countries controlling income and fnancial development from 1985 to 2017. The fndings from Westerlund (J Appl Econ 23:193–233, 2008) and other cointegration methods depict cointegration among variables. The long-run estimates from the continuously updated fully modifed method unfold that economic complexity contributes to reducing the EFP. However, greater democratic accountability boosts the EFP fgures rather than reducing them. On the fipside, renewable energy technology budgets and fnancial development are evidenced to mitigate EFP. Moreover, the study unveils a U-shaped linkage between economic growth and EFP, which indicates that an increase in income level will boost EFP. Further, the study found causality from economic complexity, democracy, and renewable energy budgets to EFP. Based on these fndings, it is pertinent for the G7 countries to increase the manufacturing of sophisticated and complex products. In addition, enhancing renewable energy technology budgets is essential to ensure environmental well-being.Öğe Explaining the environmental efficiency capability of energy mix innovation among the Nordic countries(Elsevier, 2024) Alola, Andrew Adewale; Festus Victor, Bekun; Obekpa, Hephzibah Onyeje; Adebayo, Tomiwa SundayImproving the environmental efficiency performance of energy mix is important to the global carbon neutrality goal. Given this motivation, this study delves into providing more explanation about the role of innovation approaches to coal, oil, and natural gas energy resources in the Nordic economies i.e., Denmark, Finland, Norway, and Sweden during the period 2000-2019. To achieve this objective and reach an evidence-based insight for policy formulation, the present study leveraged robust panel econometrics estimators that circum-vent cross-sectional dependence and heterogeneity issues in the investigated blocs. The empirical evidence shows that economic growth (GDP), coal energy, oil and natural gas contribute to the Nordic economies' environmental degradation in the short-and long-run. Contrarily, innovation via environmental-related patents mitigates environmental degradation, especially in the long run. Furthermore, the interaction models, i.e., applying innovative approaches in the energy mix's consumption, can mitigate carbon emissions across the countries, thus significantly improving environmental sustainability. Specifically, innovative approaches in coal, oil, and natural gas consumption improve environmental sustainability by mitigating carbon emissions, thus delivering respec-tive environmental efficiency improvements of-94%,-108%, and-123%. Additionally, Granger causality evidence further suggests that the examined factors are significant drivers of the environmental indicator. Regarding policy insight, this study affirms that further improvement in energy savings is vital to continuously deploying the conventional energy mix.Öğe Indian energy policies amidst urban population and economic growth: Sourcing evidence from time-frequency domain analysis(Sage Publications Ltd, 2024) Sinha, Avik; Adebayo, Tomiwa Sunday; Bekun, Festus VictorRelying solely on fossil fuel-driven economic growth could prove unsustainable, particularly in India, where the adverse environmental impact of this growth trajectory is increasingly affecting overall economic development. This challenge may hinder the realization of the sustainable development goals (SDGs) in the country. Therefore, to address this policy concern, an empirically investigation on the influence of various growth drivers on India's economic growth from 1965 to 2019 was conducted by this present study. Leveraging time-frequency estimators like gradual shift causality tests and Wavelet Coherence, the study yields a range of findings that can inform the formulation of an SDG-oriented policy framework. These outcomes not only acknowledge the detrimental environmental consequences of economic growth but also provide insights into addressing energy security issues. Ultimately, this research enhances to the literature by suggesting a comprehensive and adaptable policy framework aimed at advancing SDGs 7, 8, 12, and 13.Öğe Is sustainable energy consumption, technological advancement and urbanization fast addressing south Asia's green energy expansion deficits?(Springer, 2024) Gyamfi, Bright Akwasi; Adebayo, Tomiwa Sunday; Agozie, Divine Q.; Bekun, Festus Victor; Koy, AybenThe United Nation's sustainable development goals (UN-SDGs) like accessibility to renewable energies (SDG-7), sustainable production and consumption (SDG-12), as well as stable economic growth all centre on the notion of human development (HDI) and reflected in (SDG-8). In line with this motivation, this study explores the environmental sustainability targets for a panel of South Asian economies that are disproportionately affected by a huge energy deficit i.e., energy poverty, and technological immobility. This study considers evidence from south Asian nations to provide the role of certain indicators of human development in the wake of economic development and environmental quality objectives by unraveling the complex relationships between per capita income, access to technological innovation, access to clean energy, and urbanization. Employing a balanced panel econometric model, this study investigate the hypothesized nexus between specific macro-economic variables among South Asian economies. The empirical evidence indicates that the human development index (HDI), per capita income, accessibility to clean energy, technological innovation, as well as urbanization all exhibits a long-run equilibrium relationship over the study period. However, income per capita, accessibility to clean energy and technological innovation all exert a positive impact on HDI for the selected countries, while urbanization shows a negative impact on HDI. Furthermore, causality relationship shows a feedback causality relationship between income per capita, access to clean energy and urbanization with the human development variable, while access to technological innovation has a one-way causality with the HDI. This current study importantly extends the extant knowledge, by presenting new insights into the interaction between human development and its antecedents from a whole new contextual perspective. These outcomes will assist policymakers and stakeholders to obtain new insights into the crucial role of clean energy accessibility, technological innovation, income per capita, and urbanization on HDI processes among South Asian countries.Öğe Mitigating human-induced emissions in Argentina: role of renewables, income, globalization, and financial development(SPRINGER HEIDELBERG, TIERGARTENSTRASSE 17, D-69121 HEIDELBERG, GERMANY, 2021) Adebayo, Tomiwa Sunday; Akinsola, Gbenga Daniel; Bekun, Festus Victor; Osemeahon, Oseyenbhin Sunday; Sarkodie, Samuel AsumaduAchieving environmental sustainability has become a global initiative while addressing climate change and its effects. However, the role of energy production and consumption in economic development remains critical amidst environmental pollution. Thus, the need for innovation and clean energy alternatives is critical while pursuing sustainable development. This country-specific study focuses on Argentina, where economic growth trajectory is embedded with high CO2 emissions. This study assesses the long-term and causal impact of financial development and renewables on environmental pollution while accounting for the role of economic development and globalization using yearly data spanning 1980 to 2017. A battery of econometric methods is applied to underscore the interaction between the parameters of interest. The findings of Maki and ARDL tests of cointegration alongside Kripfganz and Schneider critical approximation p-values affirm long-run equilibrium interaction between variables. The outcomes of autoregressive distributed lag, fully modified, and dynamic ordinary least squares demonstrate that while economic expansion dampens environmental quality—globalization and renewables improve the environment. This finding suggests pollution-driven economic growth trajectory in Argentina with high dependence on fossil fuels. Besides, the gradual shift causality test finds evidence of one-way causality from renewable energy consumption, economic growth, and globalization to CO2 emissions. Argentina’s pathway in achieving sustainable development requires gradual and inclusive economic shift towards green growth.Öğe The nexus of disaggregated energy sources and cement production carbon emission in China(Sage Publications Ltd, 2023) Alola, Andrew Adewale; Bekun, Festus Victor; Adebayo, Tomiwa Sunday; Uzuner, GizemCement production reportedly accounts for the largest global materials flow, thus achieving global environmental sustainability through responsible consumption and production is central to the sustainable development scenario. But even that China, the world's largest carbon emitter and largest cement producer, is under-studied. Thus, the current study employed the nonlinear ARDL and frequency domain causality methods to unearth the contributory or mitigating role of energy sources and economic progress in China's cement carbon emission (CCE) over the period 1971-2020. Overall, the study establishes long-run equilibrium relationship between the study variables of interest Subsequently, the baseline regression suggests that a positive shift in economic growth, energy from fossil fuel and primary energy consumption all increase emissions while a negative shift does not have a significant effect on emissions. Moreover, a positive (negative) shift in renewable energy decreases (increases) emissions in both the short and long-run. The result of the Frequency Domain causality analysis resonates with the results of NARDL regression. As a policy, this study infers energy development and economic-related measures are strategically important in achieving sustainable cement production and consumption.Öğe Sterling insights into natural resources intensification, ageing population and globalization on environmental status in Mediterranean countries(Sage Publications Ltd, 2023) Gyamfi, Bright Akwasi; Adebayo, Tomiwa Sunday; Bekun, Festus Victor; Agboola, Mary OluwatoyinAlong with the increasing aging population (AP) and global interconnectedness in the Mediterranean bloc comes climate change issues faced by the Mediterranean region in its trajectory to energy security and sustainable development. To meet the continuous energy consumption demand while cutting down natural resources extraction and exploitation with a view to minimizing environmental impacts, the policy structure in these countries may require readjustment, which is the motivation for the present study. This study advances a strategic framework for investigating the impact of natural resources rent as well as aging reliance on carbon emissions in the Mediterranean region for the annual frequency data from 1990-2016. Using quantile regression to analyze the highlighted variables, empirical results shows that both income and natural resources rent have an inverted U-Shaped connection with CO2 emission, which affirms the Environmental Kuznets Curve (EKC) hypothesis. Subsequently, globalization and energy use show a positive relationship with emissions while AP is negatively correlated with emissions. Depending on the outcomes of this analysis, a multi-stage Sustainable Development Goal (SDG) framework has been developed and SDG- 7, SDG -13 as well as SDG-8 were examined in this context. While these three SDGs are the main targets of the study, the SDG System has also provided a way to test other SDGs.Öğe Testing the Mediating Role of Fiscal Policy in the Environmental Degradation in Portugal: Evidence from Multiple Structural Breaks Co-integration Test(Springer, 2024) Adebayo, Tomiwa Sunday; Gyamfi, Bright Akwasi; Bekun, Festus Victor; Agboola, Mary Oluwatoyin; Altuntas, MehmetUsing Portugal, the present study explores the nexus between fiscal policies advancement and environmental emissions through the channel of carbon-income function framework. We used recent second-generational time series econometrics tests that comprise bounds testing in conjunction with multiple break structural break test of Maki co-integration and gradual shift causality test and wavelet coherence method for soundness of analysis. Furthermore, to circumvent omitted variable bias issues, energy consumption was disaggregated into non-renewable energy and renewable consumption, with GDP growth incorporated as additional variables. Empirical evidence for the Portuguese economy shows that economic growth, non-renewable energy intake, and fiscal policy all dampen the quality of the environment in Portugal. These findings have environmental implications for sustainability targets in Portugal which is currently on the trajectory for healthy and sustainable energy intake. Additionally, renewable energy consumption shows statistically significant strength to improve environmental quality as it reduces CO2 emission, as reported by our study regression. On the direction of causality analysis, we observed that non-renewable energy and fiscal policy drive pollution emission one-way as reported by the gradual shift causality analysis. From a policy lens, there is need for more strides in action plans on fiscal policy development to achieve environmental sustainability in Portugal. Further insights are elucidated in the concluding remarks section.