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Öğe Does electricity consumption and globalization increase pollutant emissions? Implications for environmental sustainability target for China(SPRINGER HEIDELBERG, TIERGARTENSTRASSE 17, D-69121 HEIDELBERG, GERMANY, 2020) Saint Akadiri, Seyi; Alola, Andrew Adewale; Bekun, Festus Victor; Etokakpan, Mfonobong UdomGiving that People's Republic of China is one of the two new frontiers of globalization, the country has continued to contend with the bottleneck of sustaining its economic growth amidst environmental hiccups arising from the drawbacks of globalization and energy consumption. By investigating the challenges of the country's drive toward environmental sustainability, the present study offers a new perspective on the role of electricity consumption and economic growth in a carbon-income function setting. This study also incorporates globalization into CO2 emissions equation for the experimental period of 1970-2014. Stationarity properties were ascertained by the Zivot and Andrew unit root test under a single structural break. Subsequently, the recent and novel combined cointegration test of Bayer and Hanck (2013) in conjunction with the Pesaran bounds testing approach is used to establish a cointegration relationship among the selected variables. Finally, the modified Wald test of the Toda-Yamamoto Granger causality test is employed to detect the direction of causality flows among the variables. Empirical piece of evidence finds a statistically positive correlation between electricity consumption and economic growth as seen in the long-run regression. This result is also affirmed by the Granger causality test. The test corroborates with the electricity-induced growth hypothesis in the case of China. However, there is an environmental trade-off, as more electricity consumptions spur increased carbon dioxide emissions (CO2). Our study finds empirical support that globalization reduced pollutant emissions in both the short and long run over our sampled period. Based on these results and outcomes, several policy prescriptions on the energy-income and environment nexus are renders for policymakers. Among such policy recommendations are (a) the need for the diversification of the Chinese energy mix to cleaner energy sources and renewables and (b) the need for decarbonization and adoption of carbon capturing and storage technologies.Öğe Does globalization in Turkey induce increased energy consumption: insights into its environmental pros and cons(SPRINGER HEIDELBERG, TIERGARTENSTRASSE 17, D-69121 HEIDELBERG, GERMANY, 2020) Etokakpan, Mfonobong Udom; Adedoyin, Festus Fatai; Yorucu, Vedat; Bekun, Festus VictorGlobalization is the paradigm shift to a more integrated world economy broadly shaping economies and societies around the globe. The wave of globalization is much more eminent on its impact on increased energy demand, knowledge and technology transfer, trade, and financial capital flows. The present study focuses on Turkey, a fast-emerging economy that is no exception to the wave of globalization. This current study explores the dynamics between ecological footprints, energy consumption, and real income level for the case of Turkey in a carbon-income function while accounting for other covariate like globalization to avoid omitted variable bias. The study data spans from 1970 to 2017 on an annual frequency basis. The stationarity properties of the outlined variables were investigated. Subsequently, the equilibrium relationship between the variables is confirmed by the battery of recent robust estimation techniques. While to detect the causality of direction among the variables, the Modified Wald test causality test is utilized. This study reveals that an increase in energy consumption in Turkey reduces environmental pollution by a magnitude of 0.37% in the short run and 0.43% long run, while an increase in economic expansion dampens the quality of the environment 0.42% and 0.72% on both short and long-run basis. This is indicative given that Turkey is more energy conscious and energy efficient, while a positive statistically significant relationship is observed between real income level and ecological footprint and globalization index. The causality analysis also supports the growth-induced energy consumption hypothesis. The study further offers policy direction for the energy sector in Turkey in the face of global interconnectedness.Öğe Does the Interaction Between Growth Determinants A Drive For Global Environmental Sustainability? Evidence from World Top 10 Pollutant Emissions Countries(ELSEVIER, RADARWEG 29, 1043 NX AMSTERDAM, NETHERLANDS, 2020) Eluwole, Kayode Kolawole; Saint Akadiri, Seyi; Alola, Andrew Adewale; Etokakpan, Mfonobong UdomEconomic interdependence through foreign direct investment and trade of energy resources in a globalized world filled with mixed heritage sites stimulates economic activities thereby serving as a great catalyst for economic growth. However, the importance of these economies' interdependence transcends economic and sodo-cultural-political benefits to coastal protection, carbon sequestration, flood prevention and soil stabilization among others. To this end, this study seeks to examine whether the interdependence and interaction among foreign direct investment, energy consumption, real income is a drive for global environmental sustainability targets or not. In order to achieve our research objective, we make use of a panel-based study of world's top 10 pollutant emissions that comprises 37 developed countries of the world, using the Dynamic Autoregressive Distributed Lag techniques of Pooled Mean Group, Mean Group and Dynamic Fixed Effects estimators over the periods of 1995-2014 that incorporate tourism as an additional variable. Panel cointegration result shows that increase in the explanatory variables contributes to environmental degradation in the long-run. A 1% increase in kg oil equivalent of energy consumed led to 0.918% increase in environmental degradation, while a 1% increase real income and foreign direct investment decrease environmental degradation by 0.635% and 0.064%, with tourism insignificant impact in the long-run. Consequently, economic and environmental sustainability measures that would help to promote a cleaner and healthy environment globally for both the immediate and future generation were suggested. (C) 2019 Published by Elsevier B.V.Öğe Exploring the tourism-CO2 emissions-real income nexus in E7 countries: accounting for the role of institutional quality(ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD, 2-4 PARK SQUARE, MILTON PARK, ABINGDON OX14 4RN, OXON, ENGLAND, 2022) Bekun, Festus Victor; Adedoyin, Festus Fatai; Etokakpan, Mfonobong Udom; Gyamfi, Bright AkwasiThe purpose of this study is to explore the long-run and causality relationship between tourism development and the real income level in an environmental Kuznets Curve (EKC) framework for emerging industrialised economies (E7). The newness of our study to the tourism literature is the inclusion of institutional quality and tradeto the mix. The inclusion of the additional variables in the econometrics setting is worthwhile to circumvent omitted variable bias. Second-generation panel estimation techniques, in conjunction with the Driscoll-Kraay robust estimator, have been employed to accommodate cross-sectional dependency in the panel under review, as well as for robustness of coefficients and estimates. The Empirical results affirm the presence of the EKC phenomenon and tourism-induced emission in E7 economies, thereby suggesting that sustainable tourism has a deteriorating impact on economic growth in the examined industrialised countries. Similarly, real GDP per capita and non-renewable energy also dampen the quality of the environment, as indicated by the robust regression of AMG and CCEMG. Hence, an increase in nonrenewable energy and tourism demand increases CO2emission in E7 economies. Additionally, we observe that the quality of institution improves the quality of the environment, thus, indicating that the role of good governance (institutional quality) improves the quality of the environment in E7. Furthermore, there is a need for a paradigm shift to sustainable tourism development alongside the adoption of the polluters pay principles to mitigate the adverse implications of the consumption of non-renewable energy. More insights are presented in the concluding section.Öğe Modeling natural gas consumption, capital formation, globalization, CO2 emissions and economic growth nexus in Malaysia: Fresh evidence from combined cointegration and causality analysis(ELSEVIER, RADARWEG 29, 1043 NX AMSTERDAM, NETHERLANDS, 2020) Etokakpan, Mfonobong Udom; Solarin, Sakiru Adebola; Yorucu, Vedat; Bekun, Festus Victor; Sarkodie, Samuel AsumaduThe discovery of natural gas in the 20th century has increased aggregate energy consumption while spurring economic development. However, very little attention has been given in the energy economics literature, especially in Malaysia. As such, this paper primarily revisited the natural gas — economic growth nexus hypothesis in the case of Malaysia. The study was conducted with data from 1980 to 2014 in a multivariate framework with the inclusion of capital formation, globalization, and CO2 emissions to avoid omitted variable bias. We investigated the stationarity properties with a method that accommodates a single structural break. Subsequently, the novel combined co-integration test in conjunction with several techniques were used to assess the magnitude of the long-run equilibrium relationship. The empirical findings trace the long-run equilibrium relationship among the variables over the sampled period. The Granger causality test analysis confirmed the growth-energy driven hypothesis in Malaysia. The findings call for the adoption of cleaner and environmentally friendly energy sources in the Malaysian energy mix. We highlight the need for pragmatic strides from both private and public energy sector stakeholders to prioritize clean and accessible energy in line with the Sustainable Development Goals.Öğe Modeling the dynamic Nexus among coal consumption, pollutant emissions and real income: empirical evidence from South Africa(SPRINGER HEIDELBERG, TIERGARTENSTRASSE 17, D-69121 HEIDELBERG, GERMANY, 2020) Magazzino, Cosimo; Bekun, Festus Victor; Etokakpan, Mfonobong Udom; Uzuner, GizemThis study explores the interaction among coal consumption, pollutant emissions, and real income for South Africa in a multivariate setting. To achieve this objective, annual frequency data spanning from 1965 to 2017 is used for analysis. A series of econometrics tests were conducted ranging from stationarity and non-stationarity tests for unit root properties of the variables under consideration. Empirical evidence finds support for the inverted U-shaped pattern between energy consumption and environmental degradation in South Africa. The Toda-Yamamoto Granger causality test shows a feedback causality between economic growth and carbon dioxide emissions, as well as between GDP and coal consumption. All these highlighted findings have inherent environmental implications. Based on these outcomes, policy directions such as diversification of the South Africa energy mix to renewables and cleaner energy sources and also the adoption of carbon capturing and storage techniques were suggested to engender a cleaner and friendlier environment.Öğe Modelling Coal Energy Consumption and Economic Growth: Does Asymmetry Matter in the Case of South Africa?(Hard, 2023) Bekun, Festus Victor; Etokakpan, Mfonobong Udom; Agboola, Mary Oluwatoyin; Uzuner, Gizem; Wada, IsahIn accordance with the Intergovernmental Panel on Climate Change (IPCC), Kyoto protocol and the United Nations Sustainable development goals (UNSDGs) on climate action (SDG-13), there has been a need across economies for transition from fossil-fuel-based energy sources such as coal energy consumption to cleaner energy options i.e., a transition to a low-carbon economy. To this end, the present study explores the asymmetric relationship between coal energy consumption, economic growth, rising urban population and emission level in South Africa. The present study span is conducted on an annual frequency basis from 1965-2018. This study applies the novel Non-linear Autoregressive distributed lag methodology (NARDL) for the highlighted variables. Empirical results validate the asymmetric relationship between the variables under review over the study period. The NARDL regression further shows positive shock by GDP increases CO2 emission level while negative impact affects otherwise in the long run. On the other hand, coal consumption positive shock exhibits a detrimental impact on environmental quality in South Africa. This is insightful for policymakers. The urban population shows non-significant effect on emission levels over the sampled period. The knowledge of both positive and negative shock effects of GDP, coal energy consumption and urban growth is vital for policy construction in terms of both economic and environmental sustainability. Thus, policy prescription ranges from energy transition to alternative and cleaner energy sources like renewables and responsible energy consumption (SDG-12) should be pursued in South Africa. More far-reaching environmental policies are highlighted in the concluding section.Öğe Modelling coal rent, economic growth and CO2 emissions: Does regulatory quality matter in BRICS economies?(ELSEVIER, RADARWEG 29, 1043 NX AMSTERDAM, NETHERLANDS, 2020) Adedoyin, Festus Fatai; Gumede, Moses Iga; Bekun, Festus Victor; Etokakpan, Mfonobong Udom; Balsalobre-Lorente, DanielGlobal warming issues have been on the front burner ofmost economies and Brazil, Russia, India, China and South Africa countries (BRICS) are no exception. The region has joined the rest of the world on the global strides to mitigate against global warming in terms of decoupling carbon dioxide emissions from economic growth. This is the motivation for the present study to consider the interaction between economic growth, pollutant emissions, coal rent while accounting for the role of other covariates like regulatory quality. The study is conducted in a balanced panel setting over annual frequency data from 1990 to 2014. To this end, Pooled mean group with dynamic autoregressive distributed lag [PMGARDL (1,1,1,1,1)] was conducted to explore the coal-rents-energy nexus. The empirical study shows that for BRICS countries, unlike coal consumption, coal rents have a significant but negative impact on CO2 emissions. Also, in contrast to expectation, regulations on coal rents in form of carbon damage costs have a significant but positive impact on CO2 emissions. This suggest that in line with the drive for growth by BRICS countries, and to achieve a reduction in the levels of CO2 emissions for green growth and sustainable development, more stringent environmental-energy-related regulations are inevitable. Thus, for policymakers it is vital to reinforce the use of stringent regulations as these economies opens up to more use of coal energy. However, the need to shift, the energy mix in BRICS to renewables is pertinent in a time of global environmental consciousness for cleaner energy sources and environmentally friendly ecosystem.Öğe Natural gas consumption-economic output and environmental sustainability target in China: an N-shaped hypothesis inference(SPRINGER HEIDELBERG, TIERGARTENSTRASSE 17, D-69121 HEIDELBERG, GERMANY, 2021) Etokakpan, Mfonobong Udom; Akadiri, Seyi Saint; Alola, Andrew AdewaleOn one divide, energy types have been linked with the varying degree of environmental damage. Another perspective argued on the severity of the damaged base on per capita and/or population consumption pattern. As such, this study investigates the nexus of per capita natural gas consumption-carbon dioxide emissions and per capita income-carbon dioxide emissions in the case of the People of the Republic of China. This study objectively expanded to illustrate whether the N-shaped environmental Kuznets curve hypothesis holds in the case of China or not. The employed autoregressive distributed lag bound testing approach incorporated additional explanatory variables (urbanization) within the N-shaped EKC hypothesis over the period 1971–2018. Importantly, the results show an evidence of inverted N-shaped EKC relationship. In addition, the study posits a positive relationship between natural gas consumption and carbon dioxide emissions and between urbanization and carbon dioxide emissions. Thus, the study proposes renewable energy development and decongestion of the urban centers as a means of controlling global warming.Öğe Renewed evidence of environmental sustainability from globalization and energy consumption over economic growth in China(SPRINGER HEIDELBERG, TIERGARTENSTRASSE 17, D-69121 HEIDELBERG, GERMANY, 2020) Bekun, Festus Victor; Yalçiner, Kürşat; Etokakpan, Mfonobong Udom; Alola, Andrew AdewaleThis study is primarily motivated by exploring the role of globalization, energy intensity over economic expansion, and its impact on environmental sustainability in China. To this end, a sequence of econometrics tests were conducted to address this hypothesized relationship. The choice of China is informed by intense industrial activities and being one of the leading world economies. Annual frequency data from 1971 to 2015 is utilized for the current study. Empirical finding from novel and robust Bayer and Hanck combined cointegration test supports cointegration equilibrium relationship among the variables under review. This indicates a convergence between the explanatory variable and the explained variable in the fitted model. Further empirical evidence shows a positive statistically significant relationship between real income, ecological footprint, and globalization index. This outcome is insightful for environmental economists and policymakers. The causality analysis supports the growth-induced energy consumption hypothesis. Based on these revelations, policy direction for the energy sector in China in the face of global interconnectedness is offered in the concluding remark of this study.Öğe Rethinking electricity consumption and economic growth nexus in Turkey: environmental pros and cons(SPRINGER HEIDELBERG, TIERGARTENSTRASSE 17, D-69121 HEIDELBERG, GERMANY, 2020) Etokakpan, Mfonobong Udom; Osundina, Olawumi Abeni; Bekun, Festus Victor; Sarkodie, Samuel AsumaduThe critical role of electricity consumption in influencing and reshaping the economic and environmental landscape of the global economy cannot be underestimated. Electricity is the most beneficial and commonly transformed energy source; however, the strength, weakness, opportunities and threat of its consumption require scientific scrutiny. This study investigates electricity-led growth hypothesis vis-à-vis its impact on economic growth and environmental quality of Turkey. The annual time series data set from 1970 to 2014 were employed in the analysis with a battery of unit root and stationary tests. The equilibrium relationship in the study is explored using Maki and Bayer-Hanck combined cointegration tests under multiple structural breaks along with the Pesaran’s ARDL bounds test procedure for robust check. The study confirms the existence of cointegration relationship between electricity consumption, economic growth, capital, labour and ecological footprint. To detect the direction of causal relations, the VECM Granger causality test is employed. The causality analysis provides empirical evidence that supports the electricityinduced growth hypothesis in Turkey. This implies that embarking on conservative energy-efficient policies will slow down Turkey’s economic growth. Thus, precautionary measures that ensure adequate policy on energy mix to guarantee availability and accessibility to modern electricity will sustain economic growth and improve environmental sustainability.Öğe Revisiting the pollution haven hypothesis within the context of the environmental Kuznets curve(EMERALD GROUP PUBLISHING LTD, HOWARD HOUSE, WAGON LANE, BINGLEY BD16 1WA, W YORKSHIRE, ENGLAND, 2023) Bekun, Festus Victor; Gyamfi, Bright Akwasi; Etokakpan, Mfonobong Udom; Çakır Gündoğdu, BurçinPurpose – This purpose of this study is to explore the impact of global trend of economic integration and interconnectedness which has drawn the attention of world economies and their implications on trade inflow. This trajectory has its impact, either positive/negative, on key macroeconomic indicators, to say the least on environmental sustainability, especially emerging economies. To this end, the need to explore the connection between foreign direct investment (FDI) inflow and energy consumption amidst the wave of economic globalisation is timely and pertinent for the case of Turkey. Design/methodology/approach – This study seeks to explore the interaction between the outlined variables in a carbon-income framework for annual time series data from 1970 to 2016. A series of econometrics strategies was used consisting of unit root tests to examine the stationarity properties of the highlighted series. Subsequently, Pesaran’s Bounds testing technique is used to explore the long-run equilibrium relationship between the highlighted variables in conjunction with the Johansen cointegration test. For long-run regression coefficients, Pesaran’s autoregressive distributed lag and dynamic ordinary least squares methodology are used, and innovative accounting approaches are used to explore the responsiveness of each variable on another. Findings – Empirical results validate the pollution haven hypothesis (PHH) in the long run for the case of Turkey. Thus suggesting that FDI inflow induced environmental degradation in Turkey. Additionally, this study observed that renewable energy, on the contrary, improves the quality of the environment. This study also affirms the presence of the environmental Kuznets curve phenomenon, indicating that Turkey, at its early stage of economic trajectory, emphasis is on economic growth rather than environmental quality. This suggests a need for more deliberate action(s) by the government administrators to pursue cleaner FDI inflow and energy technologies and strategies to foster a clean environment in Turkey and a cleaner ecosystem at large. Originality/value – This study is unique in its choice of variables which is in line with the United Nations Sustainable Development Goals (SDGs) agenda to be achieved by 2030 and is very limited in the extant literature. From the economic perspective, the effect of the PHH is of interest especially to ascertain the extent the interplay among the variables has on the economy of Turkey. The empirical insights on PHH hypothesis have received less documentation in the extant literature especially for emerging economy like Turkey. Thus, this study seeks to revisit this theme for Turkey with aim to presents environmentally sustainable strategies without compromise for economic growth. Thus, this study seeks to revisit this theme.Öğe A road to enhancements in natural gas use in Iran: A multivariate modelling approach(ELSEVIER SCI LTD, THE BOULEVARD, LANGFORD LANE, KIDLINGTON, OXFORD OX5 1GB, OXON, ENGLAND, 2019) Balsalobre-Lorente, Daniel; Bekun, Festus Victor; Etokakpan, Mfonobong Udom; Driha, Oana M.The primary focus of this study is to empirically investigate the natural gas consumption-economic growth nexus in Iran, while incorporating real gross fixed capital formation (GFCF) and the role of oil revenue (OR) as additional variables to make it a multivariate framework in order to avoid possible omission variable bias in the estimations. To this end, quarterly frequency data from 1990Q1 to 2017Q4. Structural break point unit root test like Zivot and Andrews is employed and complemented with traditional non-stationarity tests such as Augmented Dickey Fuller and Phillips and Perron unit tests to investigate the interest variables stationarity characteristics. Recently developed Bayer and Hanck (2013) combined cointegration test is used alongside the Pesaran et al. (2001) bounds testing cointegration to test for long-run relationship among the variables. Finally, we test for causal relationships through Modified Wald test of Tada-Yamamoto (1995) Granger causality tests is employed. Empirical findings show cointegration relationship between the variables while accounting for structural break. Further piece of empirical results suggest that natural gas consumption exerts a significant positive impact on economic output in Iran, and also that there is a one-way causality from natural gas consumption to economic output. Thus, our study corroborates the natural gas-led growth hypothesis; being natural gas consumption a suitable alternative, as a complementary green energy source (IGU, 2015). One important conclusion reached in our study is that there is need for energy portfolio diversification in Iran in order to attain full gains from the energy sector, reducing other energies' emissions. Further insights are elucidated in the main text. Our findings provide policymakers useful insight into the state of the energy sector in Iran.Öğe The Role of Electricity Consumption, Globalization and Economic Growth in Carbon Dioxide Emissions and its Implications for Environmental Sustainability Targets(ELSEVIER, RADARWEG 29, 1043 NX AMSTERDAM, NETHERLANDS, 2020) Saint Akadiri, Seyi; Alola, Andrew Adewale; Olasehinde-Williams, Godwin; Etokakpan, Mfonobong UdomIn spite of increased awareness and commitment to climate change, the world is yet to witness a dramatic downturn of pollutant emissions. With the strategic geographical location of Turkey and the country's energy and environmental degradation challenges, this study, therefore, attempts to investigate the linkages among carbon emissions, electricity consumption, economic growth and globalization in Turkey over the period 1970-2014. They posit a more robust interpretation within a multivariate arrangement by employing several econometric techniques such as the Bayer and Hanck (2013) cointegration procedure, the ARDL bounds testing approach to cointegration, ARDL short-run and long-run estimations, and the Toda-Yamamoto Granger causality testing. From our findings, the policy variables relevant to pollution reduction in Turkey are electricity consumption and economic growth, and the common factor to these policy variables is fossil fuel consumption. There is no statistical indication that globalization impacts carbon emissions in Turkey. Our findings have the following important policy implications for Turkey and other countries with high records of carbon emissions; (i) the so-called fossil fuel capitalism needs to be overhauled, and a switch to low carbon, eco-friendly, energy mix content is required, (ii) renewable energy sources should be prioritized, (iii) adoption of electric vehicles not as complements to internal combustion engine vehicles but as substitutes should be encouraged, (iv) levying of environmentally sensitive taxes and subsidies should be intensified, and (v) better participation in the global drive for decarbonization should be encouraged. In summary, we advocate extensive planning and financing, and coordinated action across economic sectors and various stakeholders to achieve a low-carbon energy system.