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Dr. Samuel Asumadu Sarkodie
Nord University

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0 Econometric Modeling
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Journal article
Published: 17 August 2021 in Resources Policy
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This paper investigates the switching effects of COVID-19 pandemic and economic policy uncertainty on commodity prices. We employ Markov regime-switching dynamic model to explore price regime dynamics of eight widely traded commodities namely oil, natural gas, corn, soybeans, silver, gold, copper, and steel. We fit two Markov switching regimes to allow parameters to respond to both low and high volatilities. The empirical evidence shows oil, natural gas, corn, soybean, silver, gold, copper, and steel returns adjust to shocks in COVID-19 outcomes and economic policy uncertainty at varying degrees––in both low volatility and high volatility regimes. In contrast, oil and natural gas do not respond to changes in COVID-19 deaths in both regimes. The findings show most commodities are responsive to historical price in terms of demand and supply in both volatility regimes. Our findings further show a high probability that commodity prices will remain in low volatility regime than in high volatility regime––owing to COVID-19-attributed market uncertainties. These findings are useful to both investors and policymakers––as precious metals and agricultural commodities show less negative response to exogenous variables. Thus, investors and portfolio managers can use precious metals, viz. Gold for short-term cover against systematic risks in the market during the period of global pandemic.

ACS Style

Maruf Yakubu Ahmed; Samuel Asumadu Sarkodie. COVID-19 pandemic and economic policy uncertainty regimes affect commodity market volatility. Resources Policy 2021, 74, 102303 .

AMA Style

Maruf Yakubu Ahmed, Samuel Asumadu Sarkodie. COVID-19 pandemic and economic policy uncertainty regimes affect commodity market volatility. Resources Policy. 2021; 74 ():102303.

Chicago/Turabian Style

Maruf Yakubu Ahmed; Samuel Asumadu Sarkodie. 2021. "COVID-19 pandemic and economic policy uncertainty regimes affect commodity market volatility." Resources Policy 74, no. : 102303.

Research article
Published: 15 July 2021 in Environmental Science and Pollution Research
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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.

ACS Style

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 Style

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.

Chicago/Turabian Style

Tomiwa 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.

Journal article
Published: 15 July 2021 in Environmental Impact Assessment Review
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Corruption, a benchmark for institutional quality plays a critical role in achieving sustainable development, especially in developing countries. The nexus between corruption and economics is widely discussed in economic literature, however, the nexus between corruption and environmental degradation has received less attention. Here, we investigate the relationship between corruption and environmental degradation by accounting for income, urbanization, and disaggregate energy consumption in Newly Industrialized Countries from 1984 to 2016. Utilizing panel data methods, the empirical results reveal the existence of a long-run relationship between environmental degradation and regressors. Corruption, economic growth, and fossil fuel utilization have positive and statistically significant effect on environmental degradation, whereas renewable energy consumption has negative and statistically significant effect on environmental degradation. Besides, urbanization has positive but statistically insignificant effect on environmental degradation. The results reveal corruption poses a risk to the achievement of environmental aims of Sustainable Development Goals in Newly Industrialized Countries.

ACS Style

Guray Akalin; Sinan Erdogan; Samuel Asumadu Sarkodie. Do dependence on fossil fuels and corruption spur ecological footprint? Environmental Impact Assessment Review 2021, 90, 106641 .

AMA Style

Guray Akalin, Sinan Erdogan, Samuel Asumadu Sarkodie. Do dependence on fossil fuels and corruption spur ecological footprint? Environmental Impact Assessment Review. 2021; 90 ():106641.

Chicago/Turabian Style

Guray Akalin; Sinan Erdogan; Samuel Asumadu Sarkodie. 2021. "Do dependence on fossil fuels and corruption spur ecological footprint?" Environmental Impact Assessment Review 90, no. : 106641.

Journal article
Published: 06 July 2021 in Science of The Total Environment
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The impact of climate change is evident in the variability of weather patterns, hence, affecting electricity generation and consumption. Existing literature examines the effect of humidity and temperature on energy, but suffers from omitted variable bias. Here, we adopt several parameters namely ambient air pollution, precipitation, surface pressure, dew-frost point, relative humidity, wind speed, earth skin temperature, cooling degree days, heating degree days, solar and wind generation, cumulative installed PV power, and wind turbine capacity, solar and wind electricity consumption, and energy price index to investigate the role of climatic and energy-related factors on households, industry sector, commercial and public service attributed electricity consumption in Norway. Our machine learning estimator accounts for climate change heterogeneity, and historical effects while controlling omitted-variable and misspecification bias. The empirical assessment shows the radiative forcing effect of ambient air pollution decreases electricity consumption. In contrast, the scavenging effect of rainfall intensity on ambient air pollution improves both wind and solar electricity consumption. Rising levels of earth skin temperature, and humidity increases solar and wind electricity consumption whereas dew-frost point drops temperature, and humidity to improve human comfort. Our study highlights that energy price index is critical to the adoption of solar and wind energy technologies.

ACS Style

Samuel Asumadu Sarkodie; Maruf Yakubu Ahmed; Phebe Asantewaa Owusu. Ambient air pollution and meteorological factors escalate electricity consumption. Science of The Total Environment 2021, 795, 148841 .

AMA Style

Samuel Asumadu Sarkodie, Maruf Yakubu Ahmed, Phebe Asantewaa Owusu. Ambient air pollution and meteorological factors escalate electricity consumption. Science of The Total Environment. 2021; 795 ():148841.

Chicago/Turabian Style

Samuel Asumadu Sarkodie; Maruf Yakubu Ahmed; Phebe Asantewaa Owusu. 2021. "Ambient air pollution and meteorological factors escalate electricity consumption." Science of The Total Environment 795, no. : 148841.

Journal article
Published: 26 June 2021 in Sustainability
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Among the numerous anthropogenic pollutants, nitrogen dioxide (NO2) is one of the leading contaminants mainly released by burning fossil fuels in industrial and transport sectors. This study evaluates the impact of COVID-19 lockdown on the growing trend of NO2 emissions in South Asia. Satellite imagery data of Sentinel-5 Precursor with Tropomi instrument was employed in this study. The analysis was performed using time series data from February–May 2019 and February–May 2020. The time frame from February–May 2020 was further divided into two sub-time-frames, i.e., from 1 February–20 March (pre-lockdown) and from 21 March–May 2020 (lockdown). Results show the concentration of NO2 pollutants over the region declined by 6.41% from February–May 2019 to February–May 2020. Interestingly, an increasing trend of NO2 concentration by 6.58% occurred during the pre-lockdown phase in 2020 (1 February–20 March) compared to 2019 (February–May). However, the concentration of NO2 pollutants reduced considerably by 21.10% during the lockdown phase (21 March–10 May) compared to the pre-lockdown phase in 2020. Furthermore, the country-specific detailed analysis demonstrates the significant impact of COVID-19-attributed lockdown on NO2 concentration in South Asia.

ACS Style

Farhad Hassan; Muhammad Chaudhry; Muhammad Yasir; Muhammad Asghar; Samuel Sarkodie. Monitoring the Impact of COVID-19 Lockdown on the Production of Nitrogen Dioxide (NO2) Pollutants Using Satellite Imagery: A Case Study of South Asia. Sustainability 2021, 13, 7184 .

AMA Style

Farhad Hassan, Muhammad Chaudhry, Muhammad Yasir, Muhammad Asghar, Samuel Sarkodie. Monitoring the Impact of COVID-19 Lockdown on the Production of Nitrogen Dioxide (NO2) Pollutants Using Satellite Imagery: A Case Study of South Asia. Sustainability. 2021; 13 (13):7184.

Chicago/Turabian Style

Farhad Hassan; Muhammad Chaudhry; Muhammad Yasir; Muhammad Asghar; Samuel Sarkodie. 2021. "Monitoring the Impact of COVID-19 Lockdown on the Production of Nitrogen Dioxide (NO2) Pollutants Using Satellite Imagery: A Case Study of South Asia." Sustainability 13, no. 13: 7184.

Research article
Published: 21 June 2021 in Environmental Science and Pollution Research
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Conflicts are socio-political pressures that alter wellbeing, social structure, and economic sustenance. However, very limited studies have assessed the long-term impact of conflicts on environmental sustainability. This study investigates the role of internal and external conflicts on ecological footprint in the Middle East and North African countries (MENA) over the period 1995–2016. Here, we test whether the environmental Kuznets curve (EKC) hypothesis is valid for MENA countries during the period of internal and external conflicts—characterized by energy disasters and deteriorating income levels. Using robust econometric tools based on 12 MENA countries, the results show that income growth has negative impact with evidence of inherent heterogeneity across quantile distribution of ecological footprint. However, the positive impact of the square term of income decreases ecological footprint, thus, confirming U-shaped relationship between income and environmental indicator across MENA countries. The results further show that excessive energy consumption is attributed to a rising level of urbanization, while increase in conflicts stimulates environmental degradation. These findings are essential for effective conflict resolution and environmental policies across conflict-prone countries.

ACS Style

Ojonugwa Usman; Abdulkadir Abdulrashid Rafindadi; Samuel Asumadu Sarkodie. Conflicts and ecological footprint in MENA countries: implications for sustainable terrestrial ecosystem. Environmental Science and Pollution Research 2021, 1 -12.

AMA Style

Ojonugwa Usman, Abdulkadir Abdulrashid Rafindadi, Samuel Asumadu Sarkodie. Conflicts and ecological footprint in MENA countries: implications for sustainable terrestrial ecosystem. Environmental Science and Pollution Research. 2021; ():1-12.

Chicago/Turabian Style

Ojonugwa Usman; Abdulkadir Abdulrashid Rafindadi; Samuel Asumadu Sarkodie. 2021. "Conflicts and ecological footprint in MENA countries: implications for sustainable terrestrial ecosystem." Environmental Science and Pollution Research , no. : 1-12.

Editorial article
Published: 18 June 2021 in Frontiers in Energy Research
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Editorial on the Research Topic Technology Advances in the Utilization of Fossil Natural Gas as a Strategy in Transition to a Sustainable Energy System Natural gas as a fossil fuel has lower CO2 emissions from its combustion compared to other fossil fuels such as coal and oil. Hence, its demand has increased globally as a substitute for coal and oil-based fuel for power generation and transportation. The utilization of natural gas for transportation helps to mitigate the emission of other gaseous pollutants such as SOx and NOx as lesser amounts of these gases are emitted when combusted per kilometer. Besides being used as a low-carbon energy source, natural gas has been the main source of hydrogen production by catalytic steam reforming. The hydrogen produced can be utilized for fuel cell vehicles which has zero emissions and can significantly decarbonize the transportation sector. In addition to hydrogen, syngas, a mixture of hydrogen and carbon monoxide is an important chemical intermediate for producing methanol and Fischer-Tropsch liquids. This subject set was put together to pursue expert contributions on developments and advancements in the use of fossil natural gas for renewable energy processes due to the strategic position natural gas plays in decarbonizing the power and energy market as well as moving to a sustainable energy process. Sustainable hydrogen production by solar-assisted natural gas thermal dissociation as a potential pathway for energy decarbonization was reported by Rodat and Abanades. A computation fluid dynamic technique was employed to model a windowless scalable solar reactor that could enable volumetric gas-phase methane cracking with possible hybridization. The process is expected to overcome the challenges of carbon deposition, continuous round-the-clock operation of the solar reactor with an intermittent energy resource, and technology scale-up. The interest in the production of natural gas from “shale” formation is gaining wide acceptance. He et al. reported the loss of shale gas during the coring process in the Eastern Sichuan Basin in China. The error reduction rate was employed to measure the shale gas loss to verify the simulated experimental method. The results showed that the error reduction rate had an improved performance compared to the United States Bureau of Mines (USBM) methods. Experts voiced their opinions on the need to optimize energy for sustainable development by setting an achievable target for carbon neutrality (Idowu et al.). One major constraint highlighted in the utilization of fossil fuel for sustainable energy processes is the emission of CO2. This challenge was addressed by Zubir et al. who analyzed the strategy for CO2 capture from the coal-fired power plant for dry reforming of natural gas. A significant CO2 emissions reduction was obtained using CO2 capture through calcium carbonate looping. Adeneye et al. established the link between carbon emissions, energy consumption, urbanization and economic growth in Asia using common correlated effects mean group estimator. The results necessitated the need for lawmakers to gain input into green energy policies and urban planning. Natural gas’ importance as a primary alternative energy source in the move to a clean green energy system was also emphasized by Mohammad et al. The subject set had a cumulative view of 7,230 at the time of writing this Editorial, with 731 downloads of the various articles, demonstrating the interest in sustainable natural gas use. All authors listed have made a substantial, direct, and intellectual contribution to the work and approved it for publication. The authors declare that the research was conducted in the absence of any commercial or financial relationships that could be construed as a potential conflict of interest. Keywords: natural gas, sustainable energy, CO2 emissions, low carbon economy, energy transition Citation: Ayodele BV, Sarkodie SA, Aneke M and Al-Amin AQ (2021) Editorial: Technology Advances in the Utilization of Fossil Natural Gas as a Strategy in Transition to a Sustainable Energy System. Front. Energy Res. 09:712739. doi: 10.3389/fenrg.2021.712739 Received: 21 May 2021; Accepted: 04 June 2021;Published: 18 June 2021. Edited and reviewed by: Copyright © 2021 Ayodele, Sarkodie, Aneke and Al-Amin. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction in other forums is permitted, provided the original author(s) and the copyright owner(s) are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms. *Correspondence: Bamidele Victor Ayodele, [email protected]

ACS Style

Bamidele Victor Ayodele; Samuel Asumadu Sarkodie; Mathew Aneke; Abul Quasem Al-Amin. Editorial: Technology Advances in the Utilization of Fossil Natural Gas as a Strategy in Transition to a Sustainable Energy System. Frontiers in Energy Research 2021, 9, 1 .

AMA Style

Bamidele Victor Ayodele, Samuel Asumadu Sarkodie, Mathew Aneke, Abul Quasem Al-Amin. Editorial: Technology Advances in the Utilization of Fossil Natural Gas as a Strategy in Transition to a Sustainable Energy System. Frontiers in Energy Research. 2021; 9 ():1.

Chicago/Turabian Style

Bamidele Victor Ayodele; Samuel Asumadu Sarkodie; Mathew Aneke; Abul Quasem Al-Amin. 2021. "Editorial: Technology Advances in the Utilization of Fossil Natural Gas as a Strategy in Transition to a Sustainable Energy System." Frontiers in Energy Research 9, no. : 1.

Journal article
Published: 25 April 2021 in Biomass and Bioenergy
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Efficient use of biomass energy is integral to achieving many of the Sustainable Development Goals (SDGs). Their contributions, trade-off patterns, and implementation vary geographically, requiring in-depth analysis to sustainably manage its impact. Here, we analyzed the contribution of biomass energy intensity and efficiency on sustainable development across the top five biomass energy-consuming countries—Brazil, China, Germany, India, and the US. We compared the impact of biomass energy consumption, economic development, urbanization, and trade openness on carbon dioxide emissions and ecological footprint. Using annual frequency data from 1970 to 2016, we utilized continuously-updated fully-modified, and continuously-updated bias-corrected panel estimation techniques that control for cross-section dependence among sampled countries. Our empirical analysis shows income level escalates ecological footprint and emissions by 0.05–0.21%. Similarly, urban sprawl increases long-term emissions and ecological footprint by 0.07–0.17%. Biomass energy consumption increases ecological footprint by 0.18–0.90% but declines emissions by 0.02–0.09%. However, trade openness reduces both ecological footprint and CO2 emissions by 0.34–0.55%. Our results reveal income level stimulates biomass consumption in early stages of growth, but declines in technologically oriented industrial-based economy, yet, outgrows in service-inspired economy. This shows biomass extraction in developed countries can surpass regenerative capability, necessitating sustainable domestic material consumption management.

ACS Style

Mehmet Akif Destek; Samuel Asumadu Sarkodie; Ernest Frimpong Asamoah. Does biomass energy drive environmental sustainability? An SDG perspective for top five biomass consuming countries. Biomass and Bioenergy 2021, 149, 106076 .

AMA Style

Mehmet Akif Destek, Samuel Asumadu Sarkodie, Ernest Frimpong Asamoah. Does biomass energy drive environmental sustainability? An SDG perspective for top five biomass consuming countries. Biomass and Bioenergy. 2021; 149 ():106076.

Chicago/Turabian Style

Mehmet Akif Destek; Samuel Asumadu Sarkodie; Ernest Frimpong Asamoah. 2021. "Does biomass energy drive environmental sustainability? An SDG perspective for top five biomass consuming countries." Biomass and Bioenergy 149, no. : 106076.

Journal article
Published: 22 April 2021 in Science of The Total Environment
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The 21st-century development pathway is facing a challenge between climate change mitigation, sustained economic prosperity, and energy security. While extant literature focuses on drivers of anthropogenic emissions, the role of policy measures including green energy innovation, and energy research and development are limited in scope. Here we develop conceptual tools across IEA member countries with four decades of data that demonstrate the role of green energy innovation, and research and development in reducing emissions. Our assessment reveals that sectoral fossil-based CO2 contributes directly to GHG emissions by 29.7–40.6% from transport, 24.6–32% from industry, 18.6–19.5% from buildings, 15–18.4% from other sectors, and 0.5–1.1% from power. We highlight that industrialized high-income countries converge on green energy innovation but diverge on emissions. The empirical evidence shows that achieving green growth is possible through green energy innovation amidst climate change and its impact.

ACS Style

Samuel Asumadu Sarkodie; Phebe Asantewaa Owusu. Escalation effect of fossil-based CO2 emissions improves green energy innovation. Science of The Total Environment 2021, 785, 147257 .

AMA Style

Samuel Asumadu Sarkodie, Phebe Asantewaa Owusu. Escalation effect of fossil-based CO2 emissions improves green energy innovation. Science of The Total Environment. 2021; 785 ():147257.

Chicago/Turabian Style

Samuel Asumadu Sarkodie; Phebe Asantewaa Owusu. 2021. "Escalation effect of fossil-based CO2 emissions improves green energy innovation." Science of The Total Environment 785, no. : 147257.

Journal article
Published: 07 April 2021 in Sustainability
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The increasing global attention on climate change underscores the importance of alternative energy technologies with emission reduction effects. However, there are several caveats of economic productivity and environmental sustainability tradeoffs that require empirical consideration—owing to long-term effects on climate change. Here, we examine the relationship between emissions, green energy-based innovations, and energy research and development across energy-intensive OECD countries while accounting for industrial structure dynamics. We utilize several novel time series and panel estimation techniques including time-varying causality, defactored instrumental variable-based homogeneous, and heterogeneous slope dynamics that control for unobserved common factors. Our empirical assessment emphasizes the significance of energy research and development in expanding green energy innovations while reducing long-term emissions. Conversely, continual dependence on obsolete energy research and development may worsen environmental sustainability. However, the inclusion of green energy technologies offset environmental pollution without compromising economic productivity. Besides, the mitigation effect of energy research and development is channeled through a decline in energy intensity and technological advancement. We show that green energy-based innovations and energy research and development play a critical role in achieving environmental sustainability in OECD countries.

ACS Style

Samuel Sarkodie; Ahdi Ajmi; Festus Adedoyin; Phebe Owusu. Econometrics of Anthropogenic Emissions, Green Energy-Based Innovations, and Energy Intensity across OECD Countries. Sustainability 2021, 13, 4118 .

AMA Style

Samuel Sarkodie, Ahdi Ajmi, Festus Adedoyin, Phebe Owusu. Econometrics of Anthropogenic Emissions, Green Energy-Based Innovations, and Energy Intensity across OECD Countries. Sustainability. 2021; 13 (8):4118.

Chicago/Turabian Style

Samuel Sarkodie; Ahdi Ajmi; Festus Adedoyin; Phebe Owusu. 2021. "Econometrics of Anthropogenic Emissions, Green Energy-Based Innovations, and Energy Intensity across OECD Countries." Sustainability 13, no. 8: 4118.

Journal article
Published: 06 April 2021 in Finance Research Letters
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The COVID-19 global pandemic has disrupted business-as-usual, hence, affecting sustained economic development across countries. However, it appears economic uncertainty following COVID-19 containment measures favor market signals of cryptocurrencies. Here, this study empirically and structurally investigates the implication of COVID-19 health outcomes on market prices of Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. Evidence from the novel Romano-Wolf multiple hypotheses reveal COVID-19 shocks spur Litecoin by 3.20-3.84%, Bitcoin by 2.71-3.27%, Ethereum by 1.43-1.75%, and Bitcoin Cash by 1.34-1.62%.

ACS Style

Samuel Asumadu Sarkodie; Maruf Yakubu Ahmed; Phebe Asantewaa Owusu. COVID-19 pandemic improves market signals of cryptocurrencies–evidence from Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. Finance Research Letters 2021, 102049 .

AMA Style

Samuel Asumadu Sarkodie, Maruf Yakubu Ahmed, Phebe Asantewaa Owusu. COVID-19 pandemic improves market signals of cryptocurrencies–evidence from Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. Finance Research Letters. 2021; ():102049.

Chicago/Turabian Style

Samuel Asumadu Sarkodie; Maruf Yakubu Ahmed; Phebe Asantewaa Owusu. 2021. "COVID-19 pandemic improves market signals of cryptocurrencies–evidence from Bitcoin, Bitcoin Cash, Ethereum, and Litecoin." Finance Research Letters , no. : 102049.

Journal article
Published: 31 March 2021 in Resources Policy
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Volatilities in the stock market are due to fluctuations in essential energy commodities. This in effect underpins the impact of short- and long-run prices on producers, consumers, portfolio managers, and policymakers. To understand the past, present, and future dynamics of energy commodities and stock market uncertainty — this paper investigated the nexus between real stock index in the US. We investigated energy commodities namely oil price, coal price, and natural gas price employing over decadal monthly data from 1991:01 to 2019:12. The study applied autoregressive distributed lag (ARDL) and dynamic simulations of ARDL (DYNARDL) techniques to investigate long-term shocks in oil price, coal price, natural gas price, short-term interest rate, and industrial production index. The study found negative long-run relationship between real oil price, real coal price, real natural gas price, short-term interest rate, and real stock index, with only industrial production index reporting a positive relationship with real stock index in both ARDL and dynamic simulated ARDL models. While we found positive relationship between energy commodities and real stock index in the short run, negative relationship was reported between short-term interest rate, industrial production index, and real stock index. Incorporating real Western Texas Intermediate oil in S&P500 stock price index function corrects historical fluctuations by 64% compared to 54% speed of adjustment with real brent oil. The dynamic ARDL simulation further provides key insight into how energy commodity prices and economic activity shocks are transmitted to stock market prices in the U.S.

ACS Style

Maruf Yakubu Ahmed; Samuel Asumadu Sarkodie. Counterfactual shock in energy commodities affects stock market dynamics: Evidence from the United States. Resources Policy 2021, 72, 102083 .

AMA Style

Maruf Yakubu Ahmed, Samuel Asumadu Sarkodie. Counterfactual shock in energy commodities affects stock market dynamics: Evidence from the United States. Resources Policy. 2021; 72 ():102083.

Chicago/Turabian Style

Maruf Yakubu Ahmed; Samuel Asumadu Sarkodie. 2021. "Counterfactual shock in energy commodities affects stock market dynamics: Evidence from the United States." Resources Policy 72, no. : 102083.

Journal article
Published: 29 March 2021 in Journal of Risk and Financial Management
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The quest for the attainment of economic development is sought after by all global economies, which by effect is expected to transcend to improving livelihoods and standard of living. However, several factors hinder the process of achieving sustained economic development, especially in developing countries. In this regard, assessing the extent of economic expansion orchestrated by foreign direct investment (FDI) inflows in vulnerable economies such as Sub-Saharan Africa (SSA), particularly in the face of the significant fall in global FDI inflow, is worthwhile. In essence, this study ascertains the impact of FDI inflows and external debt on economic growth amidst decline in FDI inflows and excessive foreign borrowings. The mixed order of integration from the stationarity test underpins the adoption of autoregressive distributed lag (ARDL) approach for data covering the period 1990 to 2018. The empirical results found FDI inflows play a crucial role in achieving economic expansion in the region. On average, FDI inflows, external debt, and foreign aids are more useful in expanding the economy compared to trade openness and exchange rate. Thus, this study recommends the need for SSA to open its economic borders for external capital, viz. FDI. A peaceful economic and political environment is a pre-condition to attract and maintain potential foreign investors. Stability in exchange rates is critical in achieving growth in FDI and other foreign resources. However, caution is required, especially in administration of external resources. Particularly, contracting external debt must strictly be driven by economic reasons rather than political motivation. Borrowed funds could be injected mainly into productive streams with the highest investment returns to boost economic development.

ACS Style

Udi Joshua; David Babatunde; Samuel Sarkodie. Sustaining Economic Growth in Sub-Saharan Africa: Do FDI Inflows and External Debt Count? Journal of Risk and Financial Management 2021, 14, 146 .

AMA Style

Udi Joshua, David Babatunde, Samuel Sarkodie. Sustaining Economic Growth in Sub-Saharan Africa: Do FDI Inflows and External Debt Count? Journal of Risk and Financial Management. 2021; 14 (4):146.

Chicago/Turabian Style

Udi Joshua; David Babatunde; Samuel Sarkodie. 2021. "Sustaining Economic Growth in Sub-Saharan Africa: Do FDI Inflows and External Debt Count?" Journal of Risk and Financial Management 14, no. 4: 146.

Commentary
Published: 25 March 2021 in Journal of Public Affairs
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ACS Style

Maruf Yakubu Ahmed; Samuel Asumadu Sarkodie. How COVID ‐19 pandemic may hamper sustainable economic development. Journal of Public Affairs 2021, e2675 .

AMA Style

Maruf Yakubu Ahmed, Samuel Asumadu Sarkodie. How COVID ‐19 pandemic may hamper sustainable economic development. Journal of Public Affairs. 2021; ():e2675.

Chicago/Turabian Style

Maruf Yakubu Ahmed; Samuel Asumadu Sarkodie. 2021. "How COVID ‐19 pandemic may hamper sustainable economic development." Journal of Public Affairs , no. : e2675.

Original research article
Published: 19 March 2021 in Frontiers in Energy Research
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Energy is a crucial development indicator of production, consumption, and nation-building. However, energy diversification highlighting renewables remains salient in economic development across developing economies. This study explores the economic impact of renewables (RE) and fossil fuel (NRE) utilization in 17 emerging nations. We use annual data with timeframe between 1980 and 2016 and propose a bootstrap panel causality approach with a Fourier function. This allows the examination of multiple structural breaks, cross-section dependence, and heterogeneity across countries. We validate four main hypotheses on the causal links attached to the energy consumption (EC)-growth nexus namely neutrality, conservation, growth, and feedback hypotheses. The findings reveal a causal relationship running from RE to GDP for Brazil, Egypt, Indonesia, Korea, Pakistan, and the Philippines, confirming the growth hypothesis. Besides, the results validate the conservation hypothesis with causality from GDP to RE for China, Colombia, Egypt, Greece, India, Korea, South Africa, and Turkey. We identify causality from NRE to GDP for Pakistan, Mexico, Malaysia, Korea, India, Greece, Egypt, and Brazil; and from GDP to NRE for Thailand, Peru, Malaysia, India, Greece, Egypt, and Colombia. We demonstrate that wealth creation can be achieved through energy diversification rather than relying solely on conventional energy sources.

ACS Style

Veli Yilanci; Ilham Haouas; Onder Ozgur; Samuel Asumadu Sarkodie. Energy Diversification and Economic Development in Emergent Countries: Evidence From Fourier Function-Driven Bootstrap Panel Causality Test. Frontiers in Energy Research 2021, 9, 1 .

AMA Style

Veli Yilanci, Ilham Haouas, Onder Ozgur, Samuel Asumadu Sarkodie. Energy Diversification and Economic Development in Emergent Countries: Evidence From Fourier Function-Driven Bootstrap Panel Causality Test. Frontiers in Energy Research. 2021; 9 ():1.

Chicago/Turabian Style

Veli Yilanci; Ilham Haouas; Onder Ozgur; Samuel Asumadu Sarkodie. 2021. "Energy Diversification and Economic Development in Emergent Countries: Evidence From Fourier Function-Driven Bootstrap Panel Causality Test." Frontiers in Energy Research 9, no. : 1.

Journal article
Published: 18 March 2021 in Energy Reports
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This paper investigates the relationship between energy consumption and economic growth with over eighty decades of Italian dataset. The wavelet analysis is applied to decompose series into different time scales whereas the frequency domain technique is used to examine time-specific shocks. Results of both unit root and stationarity tests indicate all series are integrated of order one, however, no evidence of long-run relationship is reported between energy consumption and economic development. We observe that the causal flow from economic growth to energy consumption becomes dominant at lower scales (up to 4 years), while at higher scales the strength of causality from energy use to growth declines. Therefore, the influence of energy consumption on economic growth can significantly be detected only at lower scales. If only original series and lower scales are considered, causal findings lean towards the feedback mechanism, with bidirectional causal relationship. This bidirectional causality is reinforced at all frequency bands, thus, causality from energy consumption to economic growth is observed only at frequencies between 1.3–1.8 (3.49–4.83 years) and 2.2–2.4 (2.61–2.85 years). However, when higher scales are considered, the causality test results are in line with the conservation hypothesis. More precisely, causality from economic growth to energy consumption is reinforced by frequency technique at higher time scales (8–32 years) but only at a frequency more than 0.6 (more than 10.47 years). The differences in the applied results provide alternative policy implications, justifying the use of wavelet approach to decompose time series into various time scales.

ACS Style

Cosimo Magazzino; Mihai Mutascu; Marco Mele; Samuel Asumadu Sarkodie. Energy consumption and economic growth in Italy: A wavelet analysis. Energy Reports 2021, 7, 1520 -1528.

AMA Style

Cosimo Magazzino, Mihai Mutascu, Marco Mele, Samuel Asumadu Sarkodie. Energy consumption and economic growth in Italy: A wavelet analysis. Energy Reports. 2021; 7 ():1520-1528.

Chicago/Turabian Style

Cosimo Magazzino; Mihai Mutascu; Marco Mele; Samuel Asumadu Sarkodie. 2021. "Energy consumption and economic growth in Italy: A wavelet analysis." Energy Reports 7, no. : 1520-1528.

Journal article
Published: 12 March 2021 in Science of The Total Environment
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The rate of spread of the global pandemic calls for much attention from the empirical literature. The limitation of extant literature in assessing a comprehensive COVID-19 portfolio that accounts for complexities in the spread and containment of the virus underscores this study. We investigate the effect of city-to-city air pollutant species, meteorological conditions, underlying health conditions, socio-economic and demographic factors on COVID-19 health outcomes. We utilize a panel estimation of 615 cities in 6 continents from January 1 to June 11, 2020. While social distancing measures, movement restrictions and lockdown are reported to have improved environmental quality, we show that ambient PM2.5 remains unhealthy and above the acceptable threshold in several countries. Our empirical assessment shows that while ambient PM2.5, nitrogen dioxide, ozone, pressure, dew, Windgust, and windspeed increase the spread of COVID-19, high relative humidity and ambient temperature have mitigation effect on COVID-19, hence, decreases the number of confirmed cases. We report 66.3% of countries projected to experience a second wave of COVID-19 if government stringency and safety protocols are not enhanced. By extension, our assessments demonstrate that several factors namely underlying health conditions, meteorological, air pollution, health system quality, socio-economic and demographics spur the reproduction effect of COVID-19 across countries. Our study highlights the importance of government stringency in containing the spread of COVID-19 and its impacts.

ACS Style

Samuel Asumadu Sarkodie; Phebe Asantewaa Owusu. Global effect of city-to-city air pollution, health conditions, climatic & socio-economic factors on COVID-19 pandemic. Science of The Total Environment 2021, 778, 146394 -146394.

AMA Style

Samuel Asumadu Sarkodie, Phebe Asantewaa Owusu. Global effect of city-to-city air pollution, health conditions, climatic & socio-economic factors on COVID-19 pandemic. Science of The Total Environment. 2021; 778 ():146394-146394.

Chicago/Turabian Style

Samuel Asumadu Sarkodie; Phebe Asantewaa Owusu. 2021. "Global effect of city-to-city air pollution, health conditions, climatic & socio-economic factors on COVID-19 pandemic." Science of The Total Environment 778, no. : 146394-146394.

Journal article
Published: 02 March 2021 in Journal of Environmental Management
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The aim of this paper is to assess the relationship between COVID-19-related deaths, economic growth, PM10, PM2.5, and NO2 concentrations in New York state using city-level daily data through two Machine Learning experiments. PM2.5 and NO2 are the most significant pollutant agents responsible for facilitating COVID-19 attributed death rates. Besides, we found only six out of many tested causal inferences to be significant and true within the AUPRC analysis. In line with the causal findings, a unidirectional causal effect is found from PM2.5 to Deaths, NO2 to Deaths, and economic growth to both PM2.5 and NO2. Corroborating the first experiment, the causal results confirmed the capability of polluting variables (PM2.5 to Deaths, NO2 to Deaths) to accelerate COVID-19 deaths. In contrast, we found evidence that unsustainable economic growth predicts the dynamics of air pollutants. This shows how unsustainable economic growth could increase environmental pollution by escalating emissions of pollutant agents (PM2.5 and NO2) in New York state.

ACS Style

Cosimo Magazzino; Marco Mele; Samuel Asumadu Sarkodie. The nexus between COVID-19 deaths, air pollution and economic growth in New York state: Evidence from Deep Machine Learning. Journal of Environmental Management 2021, 286, 112241 .

AMA Style

Cosimo Magazzino, Marco Mele, Samuel Asumadu Sarkodie. The nexus between COVID-19 deaths, air pollution and economic growth in New York state: Evidence from Deep Machine Learning. Journal of Environmental Management. 2021; 286 ():112241.

Chicago/Turabian Style

Cosimo Magazzino; Marco Mele; Samuel Asumadu Sarkodie. 2021. "The nexus between COVID-19 deaths, air pollution and economic growth in New York state: Evidence from Deep Machine Learning." Journal of Environmental Management 286, no. : 112241.

Journal article
Published: 24 February 2021 in Technological Forecasting and Social Change
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It is widely accepted that technological innovation reduces energy intensity and carbon emissions without compromising global economic growth. Although new innovative developments tend to be concentrated in a few developed countries, transboundary spillover of technological innovation influences the energy efficiency and sectoral performance of other countries. A more thorough assessment of international knowledge spillover related to energy intensity reduction can enhance understanding of mitigation opportunities and costs. This study investigated, therefore, the effects of technological innovation within certain countries on the energy efficiency performance of neighboring countries. We used data from the OECD Triadic Patent Families database for 24 innovating countries between the years 1994 and 2013. Accounting for geographical distance, our results showed a positive, significant relationship between knowledge spillover and country-specific energy efficiency performance. All countries showed a sustainable efficiency growth trend, which indicates a steady increase in energy efficiency. Germany, France, the UK, the Netherlands, and Switzerland are the most energy efficient countries. These results have policy implications for sustainable energy management and environmental sustainability, highlighting the need to develop domestic research and development capabilities that increase innovation-based infrastructure.

ACS Style

Huaping Sun; Bless Kofi Edziah; Anthony Kwaku Kporsu; Samuel Asumadu Sarkodie; Farhad Taghizadeh-Hesary. Energy efficiency: The role of technological innovation and knowledge spillover. Technological Forecasting and Social Change 2021, 167, 120659 .

AMA Style

Huaping Sun, Bless Kofi Edziah, Anthony Kwaku Kporsu, Samuel Asumadu Sarkodie, Farhad Taghizadeh-Hesary. Energy efficiency: The role of technological innovation and knowledge spillover. Technological Forecasting and Social Change. 2021; 167 ():120659.

Chicago/Turabian Style

Huaping Sun; Bless Kofi Edziah; Anthony Kwaku Kporsu; Samuel Asumadu Sarkodie; Farhad Taghizadeh-Hesary. 2021. "Energy efficiency: The role of technological innovation and knowledge spillover." Technological Forecasting and Social Change 167, no. : 120659.

Research article
Published: 24 February 2021 in PLoS ONE
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Infant and maternal mortality are important indicators for assessing the quality of healthcare systems. The World Health Organization underscores the importance of proper health care system in reducing preventable mortality through early intervention. Early intervention includes availability, accessibility and affordability of health care systems for children and mothers. While there are several studies that assess the immediate and underlying drivers of child mortality, literature on the role of policy measures are limited and inconsistent. Thus, robust empirical analysis of the determinants of maternal and infant mortality remains inconclusive in the era of achieving the Sustainable Development Goals (SDG). Here, we examined the influence of health expenditure on infant and maternal deaths for the period 2000–2015 across 177 countries. Using panel Quantile Regression with bootstrapping, this study accounted for the 2007–2008 financial crisis in an empirical relationship between health outcome and health expenditure. We found a negative effect of health expenditure on mortality across all percentiles. Infant mortality rate declines between 0.19% - 1.45% while maternal mortality rate declines ranging from 0.09% - 1.91%. To attain the goal of ensuring healthy lives and wellbeing of all people (SDG 3), this study infers that health expenditure potentially reduces maternal and infant mortality across lower and middle income countries. We highlight the need for an enhanced health care expenditure, especially in developing countries to curb the levels of infant and maternal deaths.

ACS Style

Phebe Asantewaa Owusu; Samuel Asumadu Sarkodie; Pål Andreas Pedersen. Relationship between mortality and health care expenditure: Sustainable assessment of health care system. PLoS ONE 2021, 16, e0247413 .

AMA Style

Phebe Asantewaa Owusu, Samuel Asumadu Sarkodie, Pål Andreas Pedersen. Relationship between mortality and health care expenditure: Sustainable assessment of health care system. PLoS ONE. 2021; 16 (2):e0247413.

Chicago/Turabian Style

Phebe Asantewaa Owusu; Samuel Asumadu Sarkodie; Pål Andreas Pedersen. 2021. "Relationship between mortality and health care expenditure: Sustainable assessment of health care system." PLoS ONE 16, no. 2: e0247413.