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In recent years, many empirical studies investigated the effects of globalization on the ecological footprint (EF). Most of these studies relied on the KOF index of globalization and studied the effects of total globalization and disaggregated impacts of economic, social, and political globalization on the EF. However, less attention has been given to financial globalization which can also influence the EF. Hence, this study investigates the association between financial globalization (FG), economic growth (GDP), and EF controlling population density (PD) in the selected West Asian and the Middle East (WAME) nations from 1990 to 2017. The study relied upon second-generation methods for checking stationary properties and Westerlund and other techniques to scrutinize cointegration. The evidence showed cointegration in the model. The long-run approximations from continuously updated fully modified (CUP-FM) and continuously updated bias corrected (CUP-BC) tests divulge that financial globalization is an important factor to promote ecological sustainability in the sample countries because it decreases EF. Population density exacerbates EF and worsens environmental deterioration in sample countries. The study detected the environmental Kuznets curve (EKC) between EF and economic growth in the presence of financial globalization and population density. Besides, financial globalization Granger causes EF, while the feedback effect exists between EF and economic growth. Based on these results, WAME economies can accomplish ecological sustainability and sustainable development by enhancing their financial globalization levels.
Shauku Kihombo; Arif I. Vaseer; Zahoor Ahmed; Songsheng Chen; Dervis Kirikkaleli; Tomiwa Sunday Adebayo. Is there a tradeoff between financial globalization, economic growth, and environmental sustainability? An advanced panel analysis. Environmental Science and Pollution Research 2021, 1 -11.
AMA StyleShauku Kihombo, Arif I. Vaseer, Zahoor Ahmed, Songsheng Chen, Dervis Kirikkaleli, Tomiwa Sunday Adebayo. Is there a tradeoff between financial globalization, economic growth, and environmental sustainability? An advanced panel analysis. Environmental Science and Pollution Research. 2021; ():1-11.
Chicago/Turabian StyleShauku Kihombo; Arif I. Vaseer; Zahoor Ahmed; Songsheng Chen; Dervis Kirikkaleli; Tomiwa Sunday Adebayo. 2021. "Is there a tradeoff between financial globalization, economic growth, and environmental sustainability? An advanced panel analysis." Environmental Science and Pollution Research , no. : 1-11.
To study the economic and environmental effects of human capital, previous studies measure human capital based on education; however, this approach has many shortcomings because not all educated people are innovative human capital. Hence, this study introduces the concept of innovative human capital by developing a new index that measures human capital based on the number of patents every one million R&D staff full-time equivalent. After this, this paper studies the impact of innovative human capital on CO2 emissions in China. The provincial panel data of 30 Chinese provinces from 2003 to 2017 is analyzed using the fixed effect, ordinary least squares, and the system generalized method of moments (SYS-GMM). The analysis revealed that innovative human capital alleviates environmental deterioration in China. The findings unfold the existence of the environmental Kuznets curve (EKC) considering innovative human capital in the model. It implies that Chinese economic development will eventually support environmental sustainability if China continues to develop its innovative human capital. Among the control variables, economic structure, population density, and energy intensity stimulate environmental degradation by increasing CO2 emissions. However, FDI has a negative relationship with CO2 emissions. Lastly, the study proposes comprehensive policies to increase innovative human capital for environmental sustainability.
Xi Lin; Yongle Zhao; Mahmood Ahmad; Zahoor Ahmed; Husam Rjoub; Tomiwa Sunday Adebayo. Linking Innovative Human Capital, Economic Growth, and CO2 Emissions: An Empirical Study Based on Chinese Provincial Panel Data. International Journal of Environmental Research and Public Health 2021, 18, 8503 .
AMA StyleXi Lin, Yongle Zhao, Mahmood Ahmad, Zahoor Ahmed, Husam Rjoub, Tomiwa Sunday Adebayo. Linking Innovative Human Capital, Economic Growth, and CO2 Emissions: An Empirical Study Based on Chinese Provincial Panel Data. International Journal of Environmental Research and Public Health. 2021; 18 (16):8503.
Chicago/Turabian StyleXi Lin; Yongle Zhao; Mahmood Ahmad; Zahoor Ahmed; Husam Rjoub; Tomiwa Sunday Adebayo. 2021. "Linking Innovative Human Capital, Economic Growth, and CO2 Emissions: An Empirical Study Based on Chinese Provincial Panel Data." International Journal of Environmental Research and Public Health 18, no. 16: 8503.
Russia is known to be a country with enormous energy resources both renewables and non-renewables. Much of the country’s effort towards energy generation has been on the development of the non-renewables over the years. This study examined the opportunities and challenges in Russia’s Renewable energy (RE) sector. By coupling both interviews and literature reviews, a total of 8 main opportunities and 7 key challenges were identified and discussed. The Best–Worst-Method was used to assign weights to the various factors using inputs of 30 experienced experts in Russia’s RE sector. According to the obtained results, the most significant opportunity that the country would have to take advantage of is the opportunity to export RE outside the shores of the country, it recorded 27.7 percent. This is followed by the country’s target for the RE sector which scored 18%, hydrogen production and need to meet local energy requirements followed with 12% each. The greatest challenge which also serve as a hindrance to the development of RE in the country is the low attention given to clean technologies from government, it recorded a weight of 31.4%. This is followed by unequal playing field, and strict local content requirements which recorded 17.9% and 13.5%, respectively. The study ended with some strategic recommendations to authorities for the development of the sector.
Ephraim Bonah Agyekum; Nallapaneni Manoj Kumar; Usman Mehmood; Manoj Kumar Panjwani; Hassan Haes Alhelou; Tomiwa Sunday Adebayo; Amer Al-Hinai. Decarbonize Russia — A Best–Worst Method approach for assessing the renewable energy potentials, opportunities and challenges. Energy Reports 2021, 7, 4498 -4515.
AMA StyleEphraim Bonah Agyekum, Nallapaneni Manoj Kumar, Usman Mehmood, Manoj Kumar Panjwani, Hassan Haes Alhelou, Tomiwa Sunday Adebayo, Amer Al-Hinai. Decarbonize Russia — A Best–Worst Method approach for assessing the renewable energy potentials, opportunities and challenges. Energy Reports. 2021; 7 ():4498-4515.
Chicago/Turabian StyleEphraim Bonah Agyekum; Nallapaneni Manoj Kumar; Usman Mehmood; Manoj Kumar Panjwani; Hassan Haes Alhelou; Tomiwa Sunday Adebayo; Amer Al-Hinai. 2021. "Decarbonize Russia — A Best–Worst Method approach for assessing the renewable energy potentials, opportunities and challenges." Energy Reports 7, no. : 4498-4515.
Achieving 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.
Tomiwa Sunday Adebayo; Gbenga Daniel Akinsola; Festus Victor Bekun; Oseyenbhin Sunday Osemeahon; Samuel Asumadu Sarkodie. Mitigating human-induced emissions in Argentina: role of renewables, income, globalization, and financial development. Environmental Science and Pollution Research 2021, 1 -15.
AMA StyleTomiwa Sunday Adebayo, Gbenga Daniel Akinsola, Festus Victor Bekun, Oseyenbhin Sunday Osemeahon, Samuel Asumadu Sarkodie. Mitigating human-induced emissions in Argentina: role of renewables, income, globalization, and financial development. Environmental Science and Pollution Research. 2021; ():1-15.
Chicago/Turabian StyleTomiwa Sunday Adebayo; Gbenga Daniel Akinsola; Festus Victor Bekun; Oseyenbhin Sunday Osemeahon; Samuel Asumadu Sarkodie. 2021. "Mitigating human-induced emissions in Argentina: role of renewables, income, globalization, and financial development." Environmental Science and Pollution Research , no. : 1-15.
The present research assesses the influence of globalization and technological innovation on CO2 emissions in South Korea as well as taking into account the role of renewable energy consumption and energy consumption utilizing datasets between 1980 and 2018. The autoregressive distributed lag (ARDL) bounds testing method is utilized to assess long-run cointegration. The outcome of the ARDL bounds test confirmed cointegration among the series. Furthermore, the ARDL reveals that economic growth, energy consumption and globalization trigger environmental degradation while technological innovation improves the quality of the environment. In addition, the study employed the frequency domain causality test to capture causal linkage among the series. The major advantage of this approach is that causal linkage between series can be captured at the short, medium and long term, respectively. The outcomes of the causality test revealed that globalization, technological innovation, economic growth and energy use can predict CO2 emissions in South Korea.
Tomiwa Adebayo; Manuel Coelho; Dilber Onbaşıoğlu; Husam Rjoub; Mário Mata; Paulo Carvalho; João Rita; Ibrahim Adeshola. Modeling the Dynamic Linkage between Renewable Energy Consumption, Globalization, and Environmental Degradation in South Korea: Does Technological Innovation Matter? Energies 2021, 14, 4265 .
AMA StyleTomiwa Adebayo, Manuel Coelho, Dilber Onbaşıoğlu, Husam Rjoub, Mário Mata, Paulo Carvalho, João Rita, Ibrahim Adeshola. Modeling the Dynamic Linkage between Renewable Energy Consumption, Globalization, and Environmental Degradation in South Korea: Does Technological Innovation Matter? Energies. 2021; 14 (14):4265.
Chicago/Turabian StyleTomiwa Adebayo; Manuel Coelho; Dilber Onbaşıoğlu; Husam Rjoub; Mário Mata; Paulo Carvalho; João Rita; Ibrahim Adeshola. 2021. "Modeling the Dynamic Linkage between Renewable Energy Consumption, Globalization, and Environmental Degradation in South Korea: Does Technological Innovation Matter?" Energies 14, no. 14: 4265.
Despite the drive for increased environmental protection and the achievement of the Sustainable Development Goals (SDGs), coal, oil, and natural gas use continues to dominate Japan’s energy mix. In light of this issue, this research assessed the position of natural gas, oil, and coal energy use in Japan’s environmental mitigation efforts from the perspective of sustainable development with respect to economic growth between 1965 and 2019. In this regard, the study employs Bayer and Hanck cointegration, fully modified Ordinary Least Square (FMOLS), and dynamic ordinary least square (DOLS) to investigate these interconnections. The empirical findings from this study revealed that the utilization of natural gas, oil, and coal energy reduces the sustainability of the environment with oil consumption having the most significant impact. Furthermore, the study validates the environmental Kuznets curve (EKC) hypothesis in Japan. The outcomes of the Gradual shift causality showed that CO2 emissions can predict economic growth, while oil, coal, and energy consumption can predict CO2 emissions in Japan. Given Japan’s ongoing energy crisis, this innovative analysis provides valuable policy insights to stakeholders and authorities in the nation’s energy sector.
Tomiwa Adebayo; Abraham Awosusi; Seun Oladipupo; Ephraim Agyekum; ArunKumar Jayakumar; Nallapaneni Kumar. Dominance of Fossil Fuels in Japan’s National Energy Mix and Implications for Environmental Sustainability. International Journal of Environmental Research and Public Health 2021, 18, 7347 .
AMA StyleTomiwa Adebayo, Abraham Awosusi, Seun Oladipupo, Ephraim Agyekum, ArunKumar Jayakumar, Nallapaneni Kumar. Dominance of Fossil Fuels in Japan’s National Energy Mix and Implications for Environmental Sustainability. International Journal of Environmental Research and Public Health. 2021; 18 (14):7347.
Chicago/Turabian StyleTomiwa Adebayo; Abraham Awosusi; Seun Oladipupo; Ephraim Agyekum; ArunKumar Jayakumar; Nallapaneni Kumar. 2021. "Dominance of Fossil Fuels in Japan’s National Energy Mix and Implications for Environmental Sustainability." International Journal of Environmental Research and Public Health 18, no. 14: 7347.
Achieving environmental sustainability has become a global initiative whilst addressing climate change and its effects. Thus, this research re-assessed the EKC hypothesis in China and considered the effect of hydroelectricity use and urbanization, utilizing data from 1985 to 2019. The autoregressive distributed lag (ARDL) bounds testing method was utilized to assess long-run cointegration, which is reinforced by a structural break. The outcome of the ARDL bounds test confirmed cointegration among the series. Furthermore, the ARDL revealed that both economic growth and urbanization trigger environmental degradation while hydroelectricity improves the quality of the environment. The outcome of the ARDL also validated the EKC hypothesis for China. In addition, the study employed the novel gradual shift causality test to capture causal linkage among the series. The advantage of the gradual shift causality test is that it can capture gradual or smooth shifts and does not necessitate previous information of the number, form of structural break(s), or dates. The outcomes of the causality test revealed causal connections among the series of interest.
Tomiwa Adebayo; Mary Agboola; Husam Rjoub; Ibrahim Adeshola; Ephraim Agyekum; Nallapaneni Kumar. Linking Economic Growth, Urbanization, and Environmental Degradation in China: What Is the Role of Hydroelectricity Consumption? International Journal of Environmental Research and Public Health 2021, 18, 6975 .
AMA StyleTomiwa Adebayo, Mary Agboola, Husam Rjoub, Ibrahim Adeshola, Ephraim Agyekum, Nallapaneni Kumar. Linking Economic Growth, Urbanization, and Environmental Degradation in China: What Is the Role of Hydroelectricity Consumption? International Journal of Environmental Research and Public Health. 2021; 18 (13):6975.
Chicago/Turabian StyleTomiwa Adebayo; Mary Agboola; Husam Rjoub; Ibrahim Adeshola; Ephraim Agyekum; Nallapaneni Kumar. 2021. "Linking Economic Growth, Urbanization, and Environmental Degradation in China: What Is the Role of Hydroelectricity Consumption?" International Journal of Environmental Research and Public Health 18, no. 13: 6975.
The literature analyzing the ecological impacts of financial development (FD) documents mixed results. In addition, very limited researches consider the role of technological innovation in ecological sustainability even though technological innovation is indispensable to achieve technological advancement, which may help in sustainable development and ecological sustainability. Therefore, this work probes the effects of technological innovation, financial development, and economic growth (GDP) on the ecological footprint (EF) controlling urbanization and employing a STIRPAT framework. The analysis of data from West Asia and Middle East nations from 1990 to 2017 revealed cointegration in the model. The long-run coefficients produced by the continuously updated fully modified technique revealed that a 1% upsurge in technological innovation decreases EF by 0.010%. Interestingly, technological innovation is helpful to decrease EF and enhance economic growth in the West Asia and Middle East (WAME) countries. However, a 1% rise in FD boosts the level of EF by 0.0016% inferring that FD stimulates ecological degradation. Likewise, urbanization in the WAME countries raises EF levels and contributes adversely to ecological quality. In addition to this, the study revealed the environmental Kuznets curve hypothesis in the selected countries accounting for technological innovation, FD, and urbanization in the model. The causal analysis provided evidence of unidirectional causality from FD to EF and bidirectional causality between technological innovation and EF. The study recommends more investment in research and development and strong collaboration between the universities and industries to promote the level of technological innovation for both sustainable development and ecological sustainability. In addition, urban sustainability policies are necessary without decreasing the urbanization level.
Shauku Kihombo; Zahoor Ahmed; Songsheng Chen; Tomiwa Sunday Adebayo; Dervis Kirikkaleli. Linking financial development, economic growth, and ecological footprint: what is the role of technological innovation? Environmental Science and Pollution Research 2021, 1 -11.
AMA StyleShauku Kihombo, Zahoor Ahmed, Songsheng Chen, Tomiwa Sunday Adebayo, Dervis Kirikkaleli. Linking financial development, economic growth, and ecological footprint: what is the role of technological innovation? Environmental Science and Pollution Research. 2021; ():1-11.
Chicago/Turabian StyleShauku Kihombo; Zahoor Ahmed; Songsheng Chen; Tomiwa Sunday Adebayo; Dervis Kirikkaleli. 2021. "Linking financial development, economic growth, and ecological footprint: what is the role of technological innovation?" Environmental Science and Pollution Research , no. : 1-11.
Since the role of fiscal decentralization cannot be overlooked in tracking sustainable development goals targets of a clean environment and climate mitigation, it is inevitable to understand the comprehensive picture of its link with environmental quality. Unlike past studies, this study investigates the combined influence of energy prices and non-linear fiscal decentralization on carbon emissions in the presence of institutional quality and gross domestic product in the model. It employed advanced econometric panel techniques on data from 1990 to 2018 for the top seven fiscally decentralized Organisation for Economic Co-operation and Development (OECD) nations, including Spain, Belgium, Austria, Switzerland, Germany, Australia, and Canada. The main outcomes are as follows: first, a cointegrating equilibrium link is existent among the study variables. Second, the linear term of fiscal decentralization promotes carbon emissions, while the non-linear term mitigates it. It verified the inverted U-shaped curve between fiscal decentralization and carbon emissions. Third, increasing energy prices for non-renewable energy decrease carbon emission due to a substitution effect. Among other explanatory variables, improvement in the quality of institutions decreases carbon emissions, while the gross domestic product increases it. These findings suggest strengthening fiscal decentralization, lowering non-renewable energy prices, and improving institutional quality to check the deteriorating environmental quality in the study sample and other worldwide regions.
Shan Shan; Munir Ahmad; Zhixiong Tan; Tomiwa Sunday Adebayo; Rita Yi Man Li; Dervis Kirikkaleli. The role of energy prices and non-linear fiscal decentralization in limiting carbon emissions: Tracking environmental sustainability. Energy 2021, 234, 121243 .
AMA StyleShan Shan, Munir Ahmad, Zhixiong Tan, Tomiwa Sunday Adebayo, Rita Yi Man Li, Dervis Kirikkaleli. The role of energy prices and non-linear fiscal decentralization in limiting carbon emissions: Tracking environmental sustainability. Energy. 2021; 234 ():121243.
Chicago/Turabian StyleShan Shan; Munir Ahmad; Zhixiong Tan; Tomiwa Sunday Adebayo; Rita Yi Man Li; Dervis Kirikkaleli. 2021. "The role of energy prices and non-linear fiscal decentralization in limiting carbon emissions: Tracking environmental sustainability." Energy 234, no. : 121243.
This research formulates a theoretical framework to investigate the impacts of trade on consumption-based carbon emissions (CCO2) and also takes into account the influence of financial development and renewable energy use utilizing panel data for Mexico, Indonesia, Nigeria, and Turkey (MINT) nations between 1990 and 2017. The study utilizes a series of second-generation techniques such as Westerlund cointegration, cross-sectional augmented autoregressive distributed lag (CS-ARDL), and augmented mean group (AMG) tests to capture the linkage between CCO2 emissions and the independent variables. The study aims to answer the following questions: (a) can exports and imports determine CCO2 emissions in the MINT nations? (b) Is there a long-run association among the variables under investigation? The results of the Westerlund cointegration reveal a long-run association among the variables. The CS-ARDL outcomes indicate that imports and economic growth increase CCO2 emissions, while renewable energy use and exports decrease CCO2 emissions. Moreover, the outcomes of the AMG test also give credence to the CS-ARDL results. Our key policy recommendations are that initiatives, rules, and regulatory mechanisms should be implemented that promote the transformation toward renewable energy.
Tomiwa Sunday Adebayo; Husam Rjoub. Assessment of the role of trade and renewable energy consumption on consumption-based carbon emissions: evidence from the MINT economies. Environmental Science and Pollution Research 2021, 1 -13.
AMA StyleTomiwa Sunday Adebayo, Husam Rjoub. Assessment of the role of trade and renewable energy consumption on consumption-based carbon emissions: evidence from the MINT economies. Environmental Science and Pollution Research. 2021; ():1-13.
Chicago/Turabian StyleTomiwa Sunday Adebayo; Husam Rjoub. 2021. "Assessment of the role of trade and renewable energy consumption on consumption-based carbon emissions: evidence from the MINT economies." Environmental Science and Pollution Research , no. : 1-13.
China 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.
Ephraim Agyekum; Tomiwa Adebayo; Festus Bekun; Nallapaneni Kumar; Manoj Panjwani. Effect of Two Different Heat Transfer Fluids on the Performance of Solar Tower CSP by Comparing Recompression Supercritical CO2 and Rankine Power Cycles, China. Energies 2021, 14, 3426 .
AMA StyleEphraim Agyekum, Tomiwa Adebayo, Festus Bekun, Nallapaneni Kumar, Manoj Panjwani. Effect of Two Different Heat Transfer Fluids on the Performance of Solar Tower CSP by Comparing Recompression Supercritical CO2 and Rankine Power Cycles, China. Energies. 2021; 14 (12):3426.
Chicago/Turabian StyleEphraim Agyekum; Tomiwa Adebayo; Festus Bekun; Nallapaneni Kumar; Manoj Panjwani. 2021. "Effect of Two Different Heat Transfer Fluids on the Performance of Solar Tower CSP by Comparing Recompression Supercritical CO2 and Rankine Power Cycles, China." Energies 14, no. 12: 3426.
The present study assesses the impact of urbanization, economic growth, energy consumption, and financial development on CO2 emissions in Latin American countries using a dataset spanning between 1980 and 2017. The current paper employs utilized panel econometric techniques such as CIDF, panel unit test, the Westerlund panel cointegration, fully modified ordinary least squares (FMOLS), dynamic ordinary least squares (DOLS), and Dumitrescu Hurlin panel causality test to assess these associations. The outcomes from the FMOLS and DOLS estimation reveal that (i) economic growth impacts CO2 emissions positively, (ii) energy consumption exerts a positive impact on CO2 emissions, and (iii) urbanization impacts CO2 emissions positively. Furthermore, the outcomes of the causality test reveal that energy consumption and economic growth can predict CO2 emissions in Latin countries. The findings highlight the importance of policymakers actively coordinating strategies to address Latin America’s severe environmental degradation.
Tomiwa Sunday Adebayo; Muhammad Ramzan; Hafiz Arslan Iqbal; Abraham Ayobamiji Awosusi; Gbenga Daniel Akinsola. The environmental sustainability effects of financial development and urbanization in Latin American countries. Environmental Science and Pollution Research 2021, 1 -14.
AMA StyleTomiwa Sunday Adebayo, Muhammad Ramzan, Hafiz Arslan Iqbal, Abraham Ayobamiji Awosusi, Gbenga Daniel Akinsola. The environmental sustainability effects of financial development and urbanization in Latin American countries. Environmental Science and Pollution Research. 2021; ():1-14.
Chicago/Turabian StyleTomiwa Sunday Adebayo; Muhammad Ramzan; Hafiz Arslan Iqbal; Abraham Ayobamiji Awosusi; Gbenga Daniel Akinsola. 2021. "The environmental sustainability effects of financial development and urbanization in Latin American countries." Environmental Science and Pollution Research , no. : 1-14.
This research investigates the drivers of consumption-based carbon emissions in Brazil by using a dataset covering the period between 1990 and 2018. These dynamics were examined by employing the ARDL bounds, DOLS, and gradual shift causality tests. The ARDL long- and short-run estimation outcomes reveal that: (a) renewable energy use stimulates the sustainability of the environment; (b) economic growth increases environmental degradation; and (c) technological innovation enhances the quality of the environment. In addition, the gradual shift causality test results disclosed that renewable energy consumption, economic growth, technological innovation and public-private partnership investment in energy can predict consumption-based carbon emissions in Brazil. Therefore, Brazilian policymakers should actively encourage the R&D of low-carbon technologies and renewable energy consumption. Domestic consumption levels, on the other hand, should be targeted, specifically those that are more energy-intensive and cause a rise in CO2 emissions due to consumption.
Tomiwa Sunday Adebayo; Festus Fatai Adedoyin; Dervis Kirikkaleli. Toward a sustainable environment: nexus between consumption-based carbon emissions, economic growth, renewable energy and technological innovation in Brazil. Environmental Science and Pollution Research 2021, 1 -11.
AMA StyleTomiwa Sunday Adebayo, Festus Fatai Adedoyin, Dervis Kirikkaleli. Toward a sustainable environment: nexus between consumption-based carbon emissions, economic growth, renewable energy and technological innovation in Brazil. Environmental Science and Pollution Research. 2021; ():1-11.
Chicago/Turabian StyleTomiwa Sunday Adebayo; Festus Fatai Adedoyin; Dervis Kirikkaleli. 2021. "Toward a sustainable environment: nexus between consumption-based carbon emissions, economic growth, renewable energy and technological innovation in Brazil." Environmental Science and Pollution Research , no. : 1-11.
Globally 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 1980–2017. 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 growth-induced 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.
Tomiwa Sunday Adebayo; Abraham Ayobamiji Awosusi; Festus Victor Bekun; Mehmet Altuntaş. Coal energy consumption beat renewable energy consumption in South Africa: Developing policy framework for sustainable development. Renewable Energy 2021, 175, 1012 -1024.
AMA StyleTomiwa Sunday Adebayo, Abraham Ayobamiji Awosusi, Festus Victor Bekun, Mehmet Altuntaş. Coal energy consumption beat renewable energy consumption in South Africa: Developing policy framework for sustainable development. Renewable Energy. 2021; 175 ():1012-1024.
Chicago/Turabian StyleTomiwa Sunday Adebayo; Abraham Ayobamiji Awosusi; Festus Victor Bekun; Mehmet Altuntaş. 2021. "Coal energy consumption beat renewable energy consumption in South Africa: Developing policy framework for sustainable development." Renewable Energy 175, no. : 1012-1024.
This study explores the nexus between foreign aid and Chad's economic growth. Empirical evidence is based on annual data from 1982 to 2018. The study used ARDL, FMOLS, and DOLS techniques to establish interconnection among the economic indicators. Subsequently, the study utilized the wavelet coherence technique to capture causality and correlation between economic growth and the independent variables. One of the wavelet approach's uniqueness is that it shows the pattern and behavior of the variables used, including the different time horizons. Thus, we explore the dynamic influence of gross capital formation, foreign aid, import, and export on Chad's economic growth. The result of the ARDL long-run estimates reveals that gross capital formation and foreign aid exert insignificant impact on GDP growth. However, exports and imports exert a positive and significant impact on GDP growth. Furthermore, the global financial crisis has a negative and significant impact on the economy of Chad. The outcomes of the wavelet coherence test provide supportive evidence for the ARDL long-run outcomes. Hence, we suggested that substantial macroeconomic reforms and economic liberalization initiatives will help in the dissemination of information and promote domestic investment and importation of high-tech goods.
Dervis Kirikkaleli; Ibrahim Adeshola; Tomiwa Sunday Adebayo; Abraham Ayobamiji Awosusi. Do foreign aid triggers economic growth in Chad? A time series analysis. Future Business Journal 2021, 7, 1 -17.
AMA StyleDervis Kirikkaleli, Ibrahim Adeshola, Tomiwa Sunday Adebayo, Abraham Ayobamiji Awosusi. Do foreign aid triggers economic growth in Chad? A time series analysis. Future Business Journal. 2021; 7 (1):1-17.
Chicago/Turabian StyleDervis Kirikkaleli; Ibrahim Adeshola; Tomiwa Sunday Adebayo; Abraham Ayobamiji Awosusi. 2021. "Do foreign aid triggers economic growth in Chad? A time series analysis." Future Business Journal 7, no. 1: 1-17.
This study provides new insight by introducing the role of fiscal decentralization and natural resources rent in affecting CO2 emissions. For assessing this objective, this paper use panel data from seven highly fiscal decentralized Organization for Economic Cooperation and Development (OECD) countries from 1990 to 2018. For empirical analysis, we use the Westerlund test and cross-sectional autoregressive distributive lag model. In order to ascertain the integration order of variables, the study utilizes the Pesaran second-generation unit-root test. The findings reveal that all the variables are stationary at first difference. The long-run results confirm that fiscal decentralization and natural resources rent improve the atmosphere by reducing CO2 emissions. Moreover, gross domestic product and total natural resources rent increase, while improvement in institutional quality reduces CO2 emissions. For policy implication, this study recommends that transferring the power to the local governments will further reduce CO2 emissions and shift these countries to more environmentally friendly sources.
Muhammad Tufail; Lin Song; Tomiwa Sunday Adebayo; Dervis Kirikkaleli; Suliman Khan. Do fiscal decentralization and natural resources rent curb carbon emissions? Evidence from developed countries. Environmental Science and Pollution Research 2021, 1 -12.
AMA StyleMuhammad Tufail, Lin Song, Tomiwa Sunday Adebayo, Dervis Kirikkaleli, Suliman Khan. Do fiscal decentralization and natural resources rent curb carbon emissions? Evidence from developed countries. Environmental Science and Pollution Research. 2021; ():1-12.
Chicago/Turabian StyleMuhammad Tufail; Lin Song; Tomiwa Sunday Adebayo; Dervis Kirikkaleli; Suliman Khan. 2021. "Do fiscal decentralization and natural resources rent curb carbon emissions? Evidence from developed countries." Environmental Science and Pollution Research , no. : 1-12.
It is widely accepted that CO2 emissions are the primary cause of climate change and environmental destruction. China, the world’s biggest carbon emitter, is the subject of this research. Utilizing the wavelet tools (wavelet correlation, wavelet coherence, multiple wavelet coherence, and partial wavelet coherence), the present study intends to capture the time-frequency dependence between CO2 emissions and renewable energy, economic growth, trade openness, and energy usage in China between 1965 and 2019. The advantage of the wavelet tools is that they can differentiate between short, medium, and long-run dynamics over the period of study. Furthermore, the study utilized the gradual shift causality test to capture the causal interconnection between CO2 emissions and the regressors. The findings from Bayer and Hanck showed a long-run relationship among the variables of interest. Furthermore, the findings from the wavelet coherence test revealed a positive relationship between CO2 emissions and economic growth and energy usage at all frequencies. Although there is a weak negative relationship between renewable energy and CO2 emissions in the short run, there is no significant co-movement between CO2 emissions and trade openness. The outcomes of the partial and multiple wavelet coherence also give credence to the outcomes of the wavelet coherence test. Lastly, the gradual shift causality test revealed a one-way causality from energy usage and economic growth to CO2 emissions. Based on the findings, suitable policy suggestions were proposed.
Özgür Soylu; Tomiwa Adebayo; Dervis Kirikkaleli. The Imperativeness of Environmental Quality in China Amidst Renewable Energy Consumption and Trade Openness. Sustainability 2021, 13, 5054 .
AMA StyleÖzgür Soylu, Tomiwa Adebayo, Dervis Kirikkaleli. The Imperativeness of Environmental Quality in China Amidst Renewable Energy Consumption and Trade Openness. Sustainability. 2021; 13 (9):5054.
Chicago/Turabian StyleÖzgür Soylu; Tomiwa Adebayo; Dervis Kirikkaleli. 2021. "The Imperativeness of Environmental Quality in China Amidst Renewable Energy Consumption and Trade Openness." Sustainability 13, no. 9: 5054.
To 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.
Tomiwa Sunday Adebayo; Gbenga Daniel Akinsola; Dervis Kirikkaleli; Festus Victor Bekun; Sukru Umarbeyli; Oseyenbhin Sunday Osemeahon. Economic performance of Indonesia amidst CO2 emissions and agriculture: a time series analysis. Environmental Science and Pollution Research 2021, 1 -15.
AMA StyleTomiwa Sunday Adebayo, Gbenga Daniel Akinsola, Dervis Kirikkaleli, Festus Victor Bekun, Sukru Umarbeyli, Oseyenbhin Sunday Osemeahon. Economic performance of Indonesia amidst CO2 emissions and agriculture: a time series analysis. Environmental Science and Pollution Research. 2021; ():1-15.
Chicago/Turabian StyleTomiwa Sunday Adebayo; Gbenga Daniel Akinsola; Dervis Kirikkaleli; Festus Victor Bekun; Sukru Umarbeyli; Oseyenbhin Sunday Osemeahon. 2021. "Economic performance of Indonesia amidst CO2 emissions and agriculture: a time series analysis." Environmental Science and Pollution Research , no. : 1-15.
This study assesses the relationship between economic performance and environmental sustainability by taking into account the role of energy consumption, urbanization, and trade openness in Brazil by using data spanning from 1965 to 2019. The study is distinct from previously documented studies in literature in terms of scope for Brazil, where few entries have been recorded. The major objectives are to address the questions: (a) Is there a long-run connection between the variables under consideration? (b) Can CO2 emissions, trade openness, and energy consumption predict economic performance of Brazil? (c) What is the connection between economic growth and the independent variables at different frequencies and time-period? Furthermore, the study utilized dynamic ordinary least square (DOLS), fully modified ordinary least square (FMOLS), Maki Cointegration, and autoregressive distributed lag (ARDL) to capture the long-run association between the variables of interest. Also, we used the Wavelet coherence and Gradual-shift causality tests to capture the causal linkage between economic growth and the regressors. The advantage of the wavelet coherence test is that it can capture causal linkage between series at different frequencies and periods. The outcome of both Maki cointegration and ARDL bounds testing to cointegration affirms the presence of long-run interaction among the parameters of interest. Furthermore, the outcomes of the DOLS and FMOLS revealed that energy consumption, CO2 emissions, and urbanization exert positive impacts on economic growth in Brazil while there is no significant connection between trade openness and economic growth. Moreover, Gradual shift causality test outcomes disclosed that urbanization, trade openness, CO2 emissions and energy usage can predict the economic performance of Brazil. The outcomes of the wavelet coherence test give credence to the FMOLS, DOLS, and Gradual shift causality tests.
Tomiwa Adebayo; Abraham Awosusi; Jamiu Odugbesan; Gbenga Akinsola; Wing-Keung Wong; Husam Rjoub. Sustainability of Energy-Induced Growth Nexus in Brazil: Do Carbon Emissions and Urbanization Matter? Sustainability 2021, 13, 4371 .
AMA StyleTomiwa Adebayo, Abraham Awosusi, Jamiu Odugbesan, Gbenga Akinsola, Wing-Keung Wong, Husam Rjoub. Sustainability of Energy-Induced Growth Nexus in Brazil: Do Carbon Emissions and Urbanization Matter? Sustainability. 2021; 13 (8):4371.
Chicago/Turabian StyleTomiwa Adebayo; Abraham Awosusi; Jamiu Odugbesan; Gbenga Akinsola; Wing-Keung Wong; Husam Rjoub. 2021. "Sustainability of Energy-Induced Growth Nexus in Brazil: Do Carbon Emissions and Urbanization Matter?" Sustainability 13, no. 8: 4371.
In 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.
Tomiwa Sunday Adebayo; Edmund Ntom Udemba; Zahoor Ahmed; Dervis Kirikkaleli. Determinants of consumption-based carbon emissions in Chile: an application of non-linear ARDL. Environmental Science and Pollution Research 2021, 28, 43908 -43922.
AMA StyleTomiwa Sunday Adebayo, Edmund Ntom Udemba, Zahoor Ahmed, Dervis Kirikkaleli. Determinants of consumption-based carbon emissions in Chile: an application of non-linear ARDL. Environmental Science and Pollution Research. 2021; 28 (32):43908-43922.
Chicago/Turabian StyleTomiwa Sunday Adebayo; Edmund Ntom Udemba; Zahoor Ahmed; Dervis Kirikkaleli. 2021. "Determinants of consumption-based carbon emissions in Chile: an application of non-linear ARDL." Environmental Science and Pollution Research 28, no. 32: 43908-43922.