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Sub-Saharan African countries are known to be bedeviled with some challenges hindering the economic development. Meanwhile, some of these issues have not been exhaustively investigated in the context of the region. Thus, this study aimed at investigating the implications of government effectiveness, availability of natural resources, and security threats on the regions’ economic development. Yearly data, spanning from 2007 to 2020, was converted from low frequency (yearly) to high frequency (quarterly) and utilized. Data analysis was conducted using Dynamic heterogeneous panel level estimators (PMG and CS-ARDL). Findings show that while PMG estimator confirms a long-run causal effect of governance, natural resources, and security threats on economic development, only natural resources show a short-run causal effect with economic development, while the CS-ARDL (model 2) confirms the significance of all the variables both in the long and short-run. Moreover, the ECT coefficients for both models were found to be statistically significant at less than 1% significance level, which indicates that the systems return back to equilibrium in case of a shock that causes disequilibrium, and in addition, reveals a stable long-run cointegration among the variables in the model. Finally, this study suggests that the policy makers in SSA countries should place more emphasis on improving governance, managing security challenges, and effectively utilizing rents from the natural resources, as all these have severe implications for the economic development of the region if not addressed.
Husam Rjoub; Chuka Ifediora; Jamiu Odugbesan; Benneth Iloka; João Xavier Rita; Rui Dantas; Mário Mata; José Martins. Implications of Governance, Natural Resources, and Security Threats on Economic Development: Evidence from Sub-Saharan Africa. International Journal of Environmental Research and Public Health 2021, 18, 6236 .
AMA StyleHusam Rjoub, Chuka Ifediora, Jamiu Odugbesan, Benneth Iloka, João Xavier Rita, Rui Dantas, Mário Mata, José Martins. Implications of Governance, Natural Resources, and Security Threats on Economic Development: Evidence from Sub-Saharan Africa. International Journal of Environmental Research and Public Health. 2021; 18 (12):6236.
Chicago/Turabian StyleHusam Rjoub; Chuka Ifediora; Jamiu Odugbesan; Benneth Iloka; João Xavier Rita; Rui Dantas; Mário Mata; José Martins. 2021. "Implications of Governance, Natural Resources, and Security Threats on Economic Development: Evidence from Sub-Saharan Africa." International Journal of Environmental Research and Public Health 18, no. 12: 6236.
The attention of scholars and policymakers on the achievement of sustainable green economy has been on increase; however, the topic has not been exhaustively investigated. This study empirically investigates the implications of financial regulations on sustainable green economy in Turkey utilizing a time series data spanning from 1996 to 2019. This study employed Perron and Lee-Strazicich unit root test in the presence of structural break point for examining the stationarity properties of the series and FMOLS, CCR, and ARDL for estimating the long and short-run effect of the financial regulations on carbon productivity. Our study demonstrates that rule of law, economic freedom, and inflation have a significant long-run relationship with carbon productivity as confirmed by FMOLS and CCR, while rule of law, regulatory quality economic freedom, and inflation were confirmed by ARDL to have long-run causal relationship with carbon productivity. In addition, our study found that control of corruption, government effectiveness, rule of law, regulatory quality economic freedom, and inflation have a short-run causal effect on carbon productivity. Finally, this study concludes that financial regulations is significant for achieving sustainable green economy in Turkey and as such should be accorded adequate attention by the policy makers.
Jamiu Adetola Odugbesan; Husam Rjoub; Chuka Uzoma Ifediora; Chiemelie Benneth Iloka. Do financial regulations matters for sustainable green economy: evidence from Turkey. Environmental Science and Pollution Research 2021, 1 -16.
AMA StyleJamiu Adetola Odugbesan, Husam Rjoub, Chuka Uzoma Ifediora, Chiemelie Benneth Iloka. Do financial regulations matters for sustainable green economy: evidence from Turkey. Environmental Science and Pollution Research. 2021; ():1-16.
Chicago/Turabian StyleJamiu Adetola Odugbesan; Husam Rjoub; Chuka Uzoma Ifediora; Chiemelie Benneth Iloka. 2021. "Do financial regulations matters for sustainable green economy: evidence from Turkey." Environmental Science and Pollution Research , no. : 1-16.
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.
It is not a gainsaying that challenges to both healthy living and the environment are the result of deteriorating environmental quality with the attendant effect on environmental sustainability. To provide a solution to the issue, our study uses long time-series data from 1960 to 2018, and employs an overlapping generational model, the Bayer–Hanck cointegration test, wavelet coherence, Fourier Toda–Yamamoto, and Breitung–Candelon frequency-domain spectral causality tests to investigate the causal relationships among carbon emissions (CO2), economic growth (GDP), and life expectancy (LE) in Turkey. Different from the literature, we find a positive co-movement between life expectancy and CO2 and a positive correlation between LE and GDP at different scales; CO2 has a causal relationship with LE and a bidirectional causal relationship between LE and GDP, as well as short, medium, and long-run causal relationships with LE; GDP has medium and long-run causal relationships with LE, and LE has short, medium, and long-run causal relationships with GDP. Our findings guide policymakers on their policy decision-making that will address the energy consumption, environmental degradation, human health, environmental hazards, and allocation to science and technology in Turkey with the aim of ensuring overall sustainable development.
Husam Rjoub; Jamiu Odugbesan; Tomiwa Adebayo; Wing-Keung Wong. Investigating the Causal Relationships among Carbon Emissions, Economic Growth, and Life Expectancy in Turkey: Evidence from Time and Frequency Domain Causality Techniques. Sustainability 2021, 13, 2924 .
AMA StyleHusam Rjoub, Jamiu Odugbesan, Tomiwa Adebayo, Wing-Keung Wong. Investigating the Causal Relationships among Carbon Emissions, Economic Growth, and Life Expectancy in Turkey: Evidence from Time and Frequency Domain Causality Techniques. Sustainability. 2021; 13 (5):2924.
Chicago/Turabian StyleHusam Rjoub; Jamiu Odugbesan; Tomiwa Adebayo; Wing-Keung Wong. 2021. "Investigating the Causal Relationships among Carbon Emissions, Economic Growth, and Life Expectancy in Turkey: Evidence from Time and Frequency Domain Causality Techniques." Sustainability 13, no. 5: 2924.
One of the questions that remain unanswered in the literature on determinants of carbon emissions is the moderating effect of “financial development”. This becomes imperative, owing to the connection of carbon emissions to environmental degradation, which is considered to be one of the main challenges to sustainable development. Thus, this study investigated the moderating role of financial development in the determinants of carbon emissions for Turkey during the period of 1960 to 2016. Zivot–Andrew and Lee–Strazicich “unit root tests” were utilized to investigate the stationarity properties of the series. The cointegration among the variables employed was examined by utilizing the ARDL bounds test and Bayer–Hanck cointegration test. In contrast, the long-run causal relationship of the variables with carbon emissions was examined by using fully modified ordinary least square (FMOLS), dynamic OLS (DOLS), and Canonical Cointegrating Regression (CCR). The empirical findings reveal the significance of “economic growth”, “capital formation”, “energy consumption”, “urbanization”, and “financial development” as determinants of environmental degradation in Turkey. The study also found the significant moderating role of “financial development” in the relationship between “economic growth” and carbon emissions, capital formation and carbon emissions, and urbanization and carbon emissions. The environmental–financial related policies were suggested for the policymakers in Turkey to aid the reduction of carbon emission with the view of improving environmental quality.
Husam Rjoub; Jamiu Odugbesan; Tomiwa Adebayo; Wing-Keung Wong. Sustainability of the Moderating Role of Financial Development in the Determinants of Environmental Degradation: Evidence from Turkey. Sustainability 2021, 13, 1844 .
AMA StyleHusam Rjoub, Jamiu Odugbesan, Tomiwa Adebayo, Wing-Keung Wong. Sustainability of the Moderating Role of Financial Development in the Determinants of Environmental Degradation: Evidence from Turkey. Sustainability. 2021; 13 (4):1844.
Chicago/Turabian StyleHusam Rjoub; Jamiu Odugbesan; Tomiwa Adebayo; Wing-Keung Wong. 2021. "Sustainability of the Moderating Role of Financial Development in the Determinants of Environmental Degradation: Evidence from Turkey." Sustainability 13, no. 4: 1844.
In developing economies, the role of the financial sector and foreign capital in the stimulation of sustainable production practices has not been very clear cut. In a bid to obtain a much clearer empirical perspective, the present study investigates the causal relationship between financial development, financial inclusion, foreign direct investment (FDI) and sustainable development in a panel of 33 Sub‐Saharan African (SSA) economies within the 2004–2018 study periods. Panel cointegration tests uncover the presence of a long‐run relationship among the variables in the model. Prior to determining the direction of causality, panel estimation procedures show the magnitude and signs of the long run coefficients. Panel Granger causality tests uncover bidirectional causality between financial inclusion and FDI as well as between financial development and FDI. Also uncovered is unidirectional causality from FDI towards sustainable development and resource rents. This study suggests that the policymakers in SSA should optimize the level of financial development which requires a vigorous improvement so as to ensure higher potential benefits for the sustainability of SSA region through financial sector.
Jamiu Adetola Odugbesan; George Ike; Gbolahan Olowu; Bosede Ngozi Adeleye. Investigating the causality between financial inclusion, financial development and sustainable development in Sub‐Saharan Africa economies: The mediating role of foreign direct investment. Journal of Public Affairs 2020, 1 .
AMA StyleJamiu Adetola Odugbesan, George Ike, Gbolahan Olowu, Bosede Ngozi Adeleye. Investigating the causality between financial inclusion, financial development and sustainable development in Sub‐Saharan Africa economies: The mediating role of foreign direct investment. Journal of Public Affairs. 2020; ():1.
Chicago/Turabian StyleJamiu Adetola Odugbesan; George Ike; Gbolahan Olowu; Bosede Ngozi Adeleye. 2020. "Investigating the causality between financial inclusion, financial development and sustainable development in Sub‐Saharan Africa economies: The mediating role of foreign direct investment." Journal of Public Affairs , no. : 1.
This study aimed at investigating the symmetric and asymmetric effects of financial development, foreign direct investment (FDI), energy consumption, and economic growth on carbon emissions (CO2) towards environmental sustainability in Nigeria. A yearly data spanning from 1981 to 2016 was utilized with linear ARDL and non-linear ARDL techniques. The findings from the estimations show that FDI, and energy consumption have a long-run linear relationship with CO2 in Nigeria. In addition, FDI has a linear relationship with CO2 in the short-run. Interestingly, the positive and negative shocks in FDI have a significant long-run relationship with CO2, while only positive shock in financial development has a long-run relationship with CO2. The asymmetric effect in the short-run from the estimation shows that the positive and negative shocks in both financial development and FDI have a short-run relationship with CO2. Thus, this study argues for the integration of nationwide social awareness programs in the environmental policies and the implementation of financial credit policy that will address environmental degradation in Nigeria.
Jamiu Adetola Odugbesan; Tomiwa Sunday Adebayo. The symmetrical and asymmetrical effects of foreign direct investment and financial development on carbon emission: evidence from Nigeria. SN Applied Sciences 2020, 2, 1 -15.
AMA StyleJamiu Adetola Odugbesan, Tomiwa Sunday Adebayo. The symmetrical and asymmetrical effects of foreign direct investment and financial development on carbon emission: evidence from Nigeria. SN Applied Sciences. 2020; 2 (12):1-15.
Chicago/Turabian StyleJamiu Adetola Odugbesan; Tomiwa Sunday Adebayo. 2020. "The symmetrical and asymmetrical effects of foreign direct investment and financial development on carbon emission: evidence from Nigeria." SN Applied Sciences 2, no. 12: 1-15.
The theme of this paper is to explore the interconnection between financial development, real growth, and urbanization and CO2 emissions using South Africa. The study used a recent econometric technique to investigate this relationship. The data used in this study cover period between 1971 and 2016. No previous research has utilized the wavelet coherence method to collect information on the correlation and causal interaction between these economic indicators at various frequencies and timeframes in the case of South Africa. The research objectives were to fix the questions: (i) if there is a stable long-run relationship among the indicators under consideration? (ii) Does financial development, economic growth, and urbanization affect CO2 emissions? (iii) How are the indicators related, at different frequencies and various periods? The outcomes affirm that (i) financial development impacts CO2 emissions positively. (ii) The linkage between urbanization and CO2 emissions is negative. (iii) Positive interaction between real growth and CO2. The results of the wavelet coherence approach support the ARDL long-term estimate. Based on these results, recommendations have been made.
Tomiwa Sunday Adebayo; Jamiu Adetola Odugbesan. Modeling CO2 emissions in South Africa: empirical evidence from ARDL based bounds and wavelet coherence techniques. Environmental Science and Pollution Research 2020, 28, 9377 -9389.
AMA StyleTomiwa Sunday Adebayo, Jamiu Adetola Odugbesan. Modeling CO2 emissions in South Africa: empirical evidence from ARDL based bounds and wavelet coherence techniques. Environmental Science and Pollution Research. 2020; 28 (8):9377-9389.
Chicago/Turabian StyleTomiwa Sunday Adebayo; Jamiu Adetola Odugbesan. 2020. "Modeling CO2 emissions in South Africa: empirical evidence from ARDL based bounds and wavelet coherence techniques." Environmental Science and Pollution Research 28, no. 8: 9377-9389.
This study aimed at examining the synergy among economic growth, carbon dioxide (CO2) emissions, urbanization, and energy consumption in MINT (Mexico, Indonesia, Nigeria, and Turkey) countries. Yearly data from 1993 to 2017, which were sourced from World Bank Development Indicators, were employed, and the analysis was performed by employing the ARDL Bounds test approach. The findings from the study reveal that the energy–growth hypothesis that assumed unidirectional causality from energy consumption was true for Nigeria and Indonesia, whereas Mexico and Turkey followed the feedback hypothesis, which indicates a bidirectional relationship. Meanwhile, all the MINT countries show a long-run relationship from economic growth, energy consumption, and CO2 emissions to urbanization. The study suggests that the policymakers in MINT countries should develop an energy conservation policy that will enhance the potential growth of their economy. More so, there is a need to promote green industries. Finally, to ensure sustainable urbanization in MINT countries, concerted efforts need to be made to ensure the reduction in the urbanization level, so as to ensure the sustainability of the urbanization, but without compromising the economic growth, through the formulation of policies that will ensure the decrease in CO2 emissions to achieve quality environment.
Jamiu Adetola Odugbesan; Husam Rjoub. Relationship Among Economic Growth, Energy Consumption, CO2 Emission, and Urbanization: Evidence From MINT Countries. SAGE Open 2020, 10, 1 .
AMA StyleJamiu Adetola Odugbesan, Husam Rjoub. Relationship Among Economic Growth, Energy Consumption, CO2 Emission, and Urbanization: Evidence From MINT Countries. SAGE Open. 2020; 10 (2):1.
Chicago/Turabian StyleJamiu Adetola Odugbesan; Husam Rjoub. 2020. "Relationship Among Economic Growth, Energy Consumption, CO2 Emission, and Urbanization: Evidence From MINT Countries." SAGE Open 10, no. 2: 1.
: Sub-Saharan Africa is regarded as the region that accommodates about 75% of the world HIV/AIDS prevalence as of 2016. Research on the relationship between the epidemic and sustainable development is scant in this part of the world, as available literature is dominated by studies that focus on HIV and economic growth. Therefore, this study examines the relationship between sustainable development and HIV/AIDS prevalence, along with other determinants of sustainable development, such as good governance and human capital in 26 sub-Saharan Africa countries over a 27-year period from 1990—2016. The pooled mean group (PMG) estimator was employed for analysis after it was confirmed by the Hausman test for the estimation of the relationship among the variables. The results revealed a unidirectional long-run and significant relationship between HIV/AIDS prevalence and sustainable development, human capital and good governance, and human capital and sustainable development. Also, a bidirectional long-run relationship was found between good governance and HIV/AIDS prevalence. Estimation of subgroups provides a robustness check for our findings. Therefore, the paper gives new insight to the government of sub-Saharan Africa countries and major stakeholders about how to attain sustainable development in the region, while intensifying efforts on reducing HIV/AIDS prevalence, and at the same time ensuring effective good governance and human capital development.
Jamiu Adetola Odugbesan; Husam Rjoub. Relationship among HIV/AIDS Prevalence, Human Capital, Good Governance, and Sustainable Development: Empirical Evidence from Sub-Saharan Africa. Sustainability 2019, 11, 1348 .
AMA StyleJamiu Adetola Odugbesan, Husam Rjoub. Relationship among HIV/AIDS Prevalence, Human Capital, Good Governance, and Sustainable Development: Empirical Evidence from Sub-Saharan Africa. Sustainability. 2019; 11 (5):1348.
Chicago/Turabian StyleJamiu Adetola Odugbesan; Husam Rjoub. 2019. "Relationship among HIV/AIDS Prevalence, Human Capital, Good Governance, and Sustainable Development: Empirical Evidence from Sub-Saharan Africa." Sustainability 11, no. 5: 1348.