Glasgow climate change conference (COP26) and its implications in sub-Sahara Africa economies

Adedoyin F. F., BEKUN F. V., Hossain M. E., Ofori E. k., Gyamfi B. A., HASEKİ M. İ.

Renewable Energy, cilt.206, ss.214-222, 2023 (SCI-Expanded) identifier

  • Yayın Türü: Makale / Özet
  • Cilt numarası: 206
  • Basım Tarihi: 2023
  • Doi Numarası: 10.1016/j.renene.2023.02.054
  • Dergi Adı: Renewable Energy
  • Derginin Tarandığı İndeksler: Science Citation Index Expanded (SCI-EXPANDED), Scopus, Academic Search Premier, PASCAL, Aerospace Database, Aquatic Science & Fisheries Abstracts (ASFA), CAB Abstracts, Communication Abstracts, Compendex, Environment Index, Geobase, Greenfile, Index Islamicus, INSPEC, Pollution Abstracts, Public Affairs Index, Veterinary Science Database, DIALNET, Civil Engineering Abstracts
  • Sayfa Sayıları: ss.214-222
  • Anahtar Kelimeler: Clean technologies, Climate change action, COP26 agreement, Institutions, Renewable energy, SDGs, Sub-Sahara Africa
  • İstanbul Gelişim Üniversitesi Adresli: Evet

Özet

Alternative energy has been hailed as a feasible resolution to the environmental degradation and energy problems that have plagued Sub-Saharan Africa (SSA) recently. The expansion of the clean energy sector, on the other hand, relies on economic growth, effective governance, and financial considerations. As a result, it is important to investigate the links between these variables in SSA. This study investigated the influence of economic growth, institutional quality, foreign direct investment (FDI), and financial development on renewable energy at the national threshold in SSA using a two-step difference GMM model based on panel data collected from 2002 to 2019. The outcome shows that economic growth and all three financial development indicators (FD1, FD2 and FD3) have a positive significant relationship with renewable energy. Furthermore, for SSA countries, FDI, as well as all six proxy factors for institutional quality, had a negative significant influence on renewable energy. Our empirical findings propose a variety of policies that might help the renewable energy sector grow.