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Öğe Does financialization enhance renewable energy development in Sub-Saharan African countries?(Elsevier, 2023) Appiah, Michael; Ashraf, Sania; Tiwari, Aviral Kumar; Gyamfi, Bright Akwasi; Onifade, Stephen TaiwoThis study examines the influence of financial development, fiscal policy, and foreign capital on renewable energy development in 21 Sub-Saharan African nations from 2000 to 2021. The aim is to address the dearth of information on how the financial sector affects renewable energy. Using panel data and the Panel Quantile Autoregressive Distributed Lag (PQARDL) technique, we analyze the short- and long-term impacts of these factors while considering industrialization and institution quality. Our findings indicate that financial development and fiscal policy pose significant obstacles to renewable energy development across all quantile distributions in the long run. However, foreign capital positively contributes to renewable energy development across most quantiles, except the 70th quantile. We also observe a declining trend in Sub-Saharan Africa's share of renewable development due to industrialization and institutional quality in the long term. Furthermore, the interactive roles of fiscal policy and institutional quality hinder renewable advancement in the region over time. These empirical outcomes provide valuable insights on how to attract foreign capital and allocate investments in renewable development. By doing so, we can offer consumers cost-competitive choices and strive towards extending high-value-added facilities within a sustainable environment.Öğe Investigating the stationarity hypothesis of Gross Domestic Product per capita in Central and Eastern Europe and Commonwealth of Independent State countries: Evidence using Fourier based panel KPSS test(WILEY, 111 RIVER ST, HOBOKEN 07030-5774, NJ, 2020) Tiwari, Aviral Kumar; Padhan, Hemachandra; Alhassan, Abdulkareem; Bekun, Festus VictorUsing annual data from 1985 to 2016, the study conducts a robust panel stationarity analysis by accounting for cross-sectional dependency, sharp breaks and gradual structural shifts for per capita Gross Domestic Product (PCGDP) of Central and Eastern Europe (CEE) and Commonwealth of Independent State (CIS) countries. The empirical finding reveals that PCGDP at different Fourier frequency and model structure (trend or constant) for both CEE and CIS countries are unit root process. Moreover, the PCGDP of CEE and CIS countries are nonmean reverting in the presence of cross-sectional dependence and gradual structural shifts which previous studies using well-known panel stationarity estimators fail to find. Policy insights are highlighted in the conclusion section.Öğe The role of green growth and institutional quality on environmental sustainability: A comparison of CO 2 emissions, ecological footprint and inverted load capacity factor for OECD countries(Academic Press Ltd- Elsevier Science Ltd, 2024) Dam, Mehmet Metin; Durmaz, Ayse; Bekun, Festus Victor; Tiwari, Aviral KumarGreen growth is of great importance in terms of solving environmental problems and achieving sustainable development goals. However, the existing literature has not investigated how green growth affects environmental degradation and environmental sustainability variables. In light of this gap, this study aims to analyse the impact of green growth and institutional quality on CO 2 emissions, ecological footprint and inverse load capacity factor in OECD countries by constructing three different models. The results of the analysis indicate that (i) green growth exerts a significant mitigating and differentiating effect on CO 2 , ecological footprint and inverted load capacity factor in the long run. This is evidenced by a 1% increase in green growth reducing CO 2 , ecological footprint and inverted load capacity factor by 0.563%, 0.373% and 0.198%, respectively. (i) The impact of green growth on CO 2 and inverted load capacity factor in the long run is negative and statistically significant; (ii) the impact of green growth on CO 2 and inverted load capacity factor in the short run is negative and statistically significant; (iii) the impact of institutional quality on deterioration is positive and significant in the long run; (iv) the impact of population on deterioration and sustainability is significant and mixed. The findings indicate that decision-makers in OECD countries should review green energy policies when setting the sustainable development goals, as environmental sustainability is more challenging than reducing pollution.