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The aftermath of the COVID-19 pandemic has two striking impacts on the economy of the Kingdom of Saudi Arabia. First, the economic contraction of business and economic activities. Second, the effect of oil prices dropping as energy demand decreases in the international market. This study seeks to underpin the linkage between GDP growth, oil price, foreign direct investment (FDI), air transport, social globalization and carbon dioxide emission by applying time-series econometrics techniques of the following: fully modified ordinary least squares, dynamic ordinary least squares and canonical tests. The results of the Johansen cointegration test and empirical analysis trace a long-run equilibrium relationship between the highlighted variables. Our study shows that a 1% increase in FDI attraction increases economic growth by 0.004%; similarly, air transport and oil rent from KSA increased economic growth by 0.547% and 0.005%, respectively. These outcomes are indicative of the GDP growth ambition of the KSA economy in order to intensify FDI attraction and the air transportation sector. However, we also observe that increases in CO2 emission increase GDP growth. Thus, this suggests that the economic growth in KSA is not green, indicating the need for green economic growth pursuit targets.
Mary Oluwatoyin Agboola; Festus Victor Bekun; Daniel Balsalobre-Lorente. Implications of Social Isolation in Combating COVID-19 Outbreak in Kingdom of Saudi Arabia: Its Consequences on the Carbon Emissions Reduction. Sustainability 2021, 13, 9476 .
AMA StyleMary Oluwatoyin Agboola, Festus Victor Bekun, Daniel Balsalobre-Lorente. Implications of Social Isolation in Combating COVID-19 Outbreak in Kingdom of Saudi Arabia: Its Consequences on the Carbon Emissions Reduction. Sustainability. 2021; 13 (16):9476.
Chicago/Turabian StyleMary Oluwatoyin Agboola; Festus Victor Bekun; Daniel Balsalobre-Lorente. 2021. "Implications of Social Isolation in Combating COVID-19 Outbreak in Kingdom of Saudi Arabia: Its Consequences on the Carbon Emissions Reduction." Sustainability 13, no. 16: 9476.
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.
This study explores the applicability of conventional environmental Kuznets curve (EKC) with an extension for the case of emerging industrialized economies, comprised of China, India, Brazil, Mexico, Russia, Indonesia, and Turkey, for annual time frequency from 1995 to 2016. This study is distinct from that already documented in the extant literature by extending the traditional EKC phenomenon by accounting for the combined impact of institutional quality and renewables in E7 blocs. The countries under review are known to be emerging and still at their scale stage of their growth path. As such, the need to explore the theme is pertinent for stakeholders. Empirical framework is built on second-generational panel econometrics strategies that consist of Augmented Mean Group, Common Correlated Effects Mean Group estimator, Driscoll-Kraay and Dumitrescu and Hurlin Causality analysis, which is superior to first-generation methods. Our study validates the EKC phenomenon in E7, i.e., where emphasis is placed on economic expansion relative to the quality of the environment. The EKC phenomenon is validated by the deteriorating effect of fossil-fuel energy consumption in the bloc. However, renewables are seen as a panacea to reduce pollution emission as renewable energy exerts a negative and statistical relationship with CO2 emission over the sampled period. Additional results show that weak institution also dampens the quality of the environment in E7. These outcomes are suggestive to policy makers to reinforce their commitment to the quality of the environment in terms of growth and energy transition from fossil fuel to clean energy sources. Further policy prescriptions are presented in the concluding section.
Festus Victor Bekun; Bright Akwasi Gyamfi; Stephen Taiwo Onifade; Mary Oluwatoyin Agboola. Beyond the environmental Kuznets Curve in E7 economies: Accounting for the combined impacts of institutional quality and renewables. Journal of Cleaner Production 2021, 314, 127924 .
AMA StyleFestus Victor Bekun, Bright Akwasi Gyamfi, Stephen Taiwo Onifade, Mary Oluwatoyin Agboola. Beyond the environmental Kuznets Curve in E7 economies: Accounting for the combined impacts of institutional quality and renewables. Journal of Cleaner Production. 2021; 314 ():127924.
Chicago/Turabian StyleFestus Victor Bekun; Bright Akwasi Gyamfi; Stephen Taiwo Onifade; Mary Oluwatoyin Agboola. 2021. "Beyond the environmental Kuznets Curve in E7 economies: Accounting for the combined impacts of institutional quality and renewables." Journal of Cleaner Production 314, no. : 127924.
According to the Economic Complexity Index, Japan was the number 1 most complex economy in the world. In addition to complexity, Japan pledges to reduce emissions by boosting cleaner energy sources. This study simulates two policies to highlight a path for Japan in achieving this ambitious energy and environmental target. The novel dynamic autoregressive distribution lag (ARDL) model and Kernel-based regularized least squares (KRLS) are adopted over panel data from 1970 to 2018. Empirical evidence from the ARDL and dynamic ARDL models shows that CO2 emissions have a significant long-term relationship with GDP per capita, renewable energy, and economic complexity index while air transport is significant in the short run. Putting it more elaborately, a unit increase in GDP per capita increase the emission by 0.84%–0.96% in the long run and 0.46%–0.48% in the short run. As regards renewable energy, a unit increase in it decrease the carbon emission by 0.07% and 0.04% in the long-run and short-run respectively. Also, an increase in the economic index diminished the emission by 0.81% in the long run. Moreover, economic complexity moderates the role of GDP in environmental degradation as it also has a significant impact on carbon emission.
Festus Fatai Adedoyin; Ilhan Ozturk; Festus Victor Bekun; Phillips O. Agboola; Mary Oluwatoyin Agboola. Renewable and non-renewable energy policy simulations for abating emissions in a complex economy: Evidence from the novel dynamic ARDL. Renewable Energy 2021, 177, 1408 -1420.
AMA StyleFestus Fatai Adedoyin, Ilhan Ozturk, Festus Victor Bekun, Phillips O. Agboola, Mary Oluwatoyin Agboola. Renewable and non-renewable energy policy simulations for abating emissions in a complex economy: Evidence from the novel dynamic ARDL. Renewable Energy. 2021; 177 ():1408-1420.
Chicago/Turabian StyleFestus Fatai Adedoyin; Ilhan Ozturk; Festus Victor Bekun; Phillips O. Agboola; Mary Oluwatoyin Agboola. 2021. "Renewable and non-renewable energy policy simulations for abating emissions in a complex economy: Evidence from the novel dynamic ARDL." Renewable Energy 177, no. : 1408-1420.
The European Union (EU) is one of the strongest, but most complex unions in the world with a competitive tourism industry. The aim of this study, therefore, is to account for economic complexity index (ECI), Brexit and other crisis episodes in the growth-energy-emissions nexus. Theoretically, the traditional Environmental Kuznets Curve (EKC) model is assessed by adopting a One-step System Generalized Method of Moment (Sys GMM) on data for 26 EU member states over the period from 1995 to 2018. For the first time, an EU-macro regional analysis is conducted with and without the UK. Empirical results reveal that an increase in tourism, real GDP per capita, and energy use across the four EU macro regions leads to increase in carbon emission. In some regions, it was observed that tourism, ECI, Brexit, and the Greece bailout have no significant impact on carbon emission. This suggests that the increase in international travel, complexity of the economy, and financial crisis do not accelerate environmental crisis in such regions. However, where such factors are statistically significant, Brexit and the Greece bailout crisis both heighten emissions. Particularly, when the UK is excluded, Brexit and the Greece bailout crisis increase and reduce emissions, respectively. The EKC hypothesis, however, holds in either scenario. Based on these empirical findings, vital policy directions are suggested for a post-Brexit EU-UK energy and environmental relations.
Festus Fatai Adedoyin; Phillips O. Agboola; Ilhan Ozturk; Festus Victor Bekun; Mary Oluwatoyin Agboola. Environmental consequences of economic complexities in the EU amidst a booming tourism industry: Accounting for the role of brexit and other crisis events. Journal of Cleaner Production 2021, 305, 127117 .
AMA StyleFestus Fatai Adedoyin, Phillips O. Agboola, Ilhan Ozturk, Festus Victor Bekun, Mary Oluwatoyin Agboola. Environmental consequences of economic complexities in the EU amidst a booming tourism industry: Accounting for the role of brexit and other crisis events. Journal of Cleaner Production. 2021; 305 ():127117.
Chicago/Turabian StyleFestus Fatai Adedoyin; Phillips O. Agboola; Ilhan Ozturk; Festus Victor Bekun; Mary Oluwatoyin Agboola. 2021. "Environmental consequences of economic complexities in the EU amidst a booming tourism industry: Accounting for the role of brexit and other crisis events." Journal of Cleaner Production 305, no. : 127117.
Mary Oluwatoyin Agboola. Female Labour Force Participation in Saudi Arabia and its Determinants. Gospodarka Narodowa 2021, 305, 135 -152.
AMA StyleMary Oluwatoyin Agboola. Female Labour Force Participation in Saudi Arabia and its Determinants. Gospodarka Narodowa. 2021; 305 (1):135-152.
Chicago/Turabian StyleMary Oluwatoyin Agboola. 2021. "Female Labour Force Participation in Saudi Arabia and its Determinants." Gospodarka Narodowa 305, no. 1: 135-152.
Sub-Saharan Africa which is one of the main regions known for various sources of mineral and energy resources in the global market has experienced appreciable rates of economic expansion in the last 10 years. However, apart from the environmental consequences of generating energy, how uncertainties in the economy moderate the impact of energy generation on the environment is yet to be given desired attention. Hence, this study investigates the role of economic policy uncertainty in the energy-growth-emissions nexus for 32 countries in Sub-Saharan Africa over the period from 1996 to 2014. Results from one-step system-GMM show that real GDP and generation of non-renewable energy both increases CO2 emissions. However, while economic policy uncertainty also propels high levels of emissions in the region, its moderation effect on the impact of both renewable and non-renewable energy generation leads to a reduction in emissions level in the region. This suggests an urgent need for the implementation of sound macroeconomic and energy policies in Sub-Saharan Africa to safeguard the energy sector from disruptions and to mitigate the resultant impact on the degradation of the environment in the region.
Festus Fatai Adedoyin; Ilhan Ozturk; Mary Oluwatoyin Agboola; Phillips O. Agboola; Festus Victor Bekun. The implications of renewable and non-renewable energy generating in Sub-Saharan Africa: The role of economic policy uncertainties. Energy Policy 2021, 150, 112115 .
AMA StyleFestus Fatai Adedoyin, Ilhan Ozturk, Mary Oluwatoyin Agboola, Phillips O. Agboola, Festus Victor Bekun. The implications of renewable and non-renewable energy generating in Sub-Saharan Africa: The role of economic policy uncertainties. Energy Policy. 2021; 150 ():112115.
Chicago/Turabian StyleFestus Fatai Adedoyin; Ilhan Ozturk; Mary Oluwatoyin Agboola; Phillips O. Agboola; Festus Victor Bekun. 2021. "The implications of renewable and non-renewable energy generating in Sub-Saharan Africa: The role of economic policy uncertainties." Energy Policy 150, no. : 112115.
While most African economies are primarily sandwiched with the seemingly unsurmountable task of attaining consistent economic growth and unhindered energy supply, the enormous threat posed by environmental degradation has further complicated the economic and environmental sustainability drive. In this context, the present study examines the effect of economic growth, urbanization, electricity consumption, fossil fuel energy consumption, and total natural resources rent on pollutant emissions in Africa over the period 1980–2014. By employing selected African countries, the current study relies on the Kao and Pedroni cointegration tests to cointegration analysis, the Pesaran's Panel Pooled Mean Group-Autoregressive distributive lag methodology (ARDL-PMG) for long run regression while Dumitrescu and Hurlin (2012) is employed for the detection of causality direction among the outlined variables. The study traces long run equilibrium relationships between examined indicators. The ARDL-PMG results suggest a statistical positive relationship between pollutant emissions and urbanization, electricity consumption and non-renewable energy consumption. Dumitrescu and Hurlin (2012) Granger causality test lends support to the long-run regression results. A bi-directional causality is observed between pollutant emissions, electricity consumption, economic growth and pollutant emissions while a unidirectional causality is apparent between total natural resources rent and pollutant emission. Based on these results, several policy implications for the African continent were suggested. (a) The need for a paradigm shift from fossil fuel sources to renewables is encouraged in the region (b) The need to embrace carbon storage and capturing techniques to decouple pollutant emissions from economic growth on the continent's growth trajectory. Further policy insights are elucidated.
Simplice A. Asongu; Mary Oluwatoyin Agboola; Andrew Adewale Alola; Festus Victor Bekun. The criticality of growth, urbanization, electricity and fossil fuel consumption to environment sustainability in Africa. Science of The Total Environment 2020, 712, 136376 .
AMA StyleSimplice A. Asongu, Mary Oluwatoyin Agboola, Andrew Adewale Alola, Festus Victor Bekun. The criticality of growth, urbanization, electricity and fossil fuel consumption to environment sustainability in Africa. Science of The Total Environment. 2020; 712 ():136376.
Chicago/Turabian StyleSimplice A. Asongu; Mary Oluwatoyin Agboola; Andrew Adewale Alola; Festus Victor Bekun. 2020. "The criticality of growth, urbanization, electricity and fossil fuel consumption to environment sustainability in Africa." Science of The Total Environment 712, no. : 136376.
This study empirically investigates the agriculture-induced environmental Kuznets curve (EKC) hypothesis in an agrarian framework. Annual time series data from 1981–2014 was employed using augmented Dickey–Fuller and the Phillips–Perron (PP) unit root test complemented by the Zivot and Andrews unit root that accounts for a single structural break to ascertain stationarity properties of variables under consideration. For the cointegration analysis, an autoregressive distributive lag methodology and the recent novel Bayer and Hanck combined cointegration technique are employed. For the direction of causality, the Granger causality test is used as estimation technique. Empirical findings lend support for the long-run equilibrium relationship among the variables under consideration. This study also validates the inverted U-shaped pattern of EKC for the case of Nigeria, affirming that Nigeria remains at the scale-effect stage of its growth trajectory. Further empirical results show that foreign direct investment attraction helps mitigate carbon emissions in Nigeria. Based on these results, several policy prescriptions on the Nigeria energy mix and agricultural operations in response to quality of the environment were suggested for policymakers, stakeholders, and environmental economists that formulate and design environmental regulations and strategies to realise the goal 7 of sustainable development (SDG).
Mary Oluwatoyin Agboola; Festus Victor Bekun. Does agricultural value added induce environmental degradation? Empirical evidence from an agrarian country. Environmental Science and Pollution Research 2019, 26, 27660 -27676.
AMA StyleMary Oluwatoyin Agboola, Festus Victor Bekun. Does agricultural value added induce environmental degradation? Empirical evidence from an agrarian country. Environmental Science and Pollution Research. 2019; 26 (27):27660-27676.
Chicago/Turabian StyleMary Oluwatoyin Agboola; Festus Victor Bekun. 2019. "Does agricultural value added induce environmental degradation? Empirical evidence from an agrarian country." Environmental Science and Pollution Research 26, no. 27: 27660-27676.