The dynamic impact of renewable energy consumption and financial development on CO2 emissions: For selected African countries

This empirical study examines the impact of economic growth, renewable energy, energy consumption, financial developments, trade openness, and urbanization growth on CO 2 emissions using the Pooled Mean Group (PMG) approach and Granger Causality in the EKC model a data set of 25 African countries ov...

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Bibliographic Details
Published inEnergy sources. Part B, Economics, planning and policy Vol. 13; no. 1; pp. 13 - 20
Main Authors Khoshnevis Yazdi, Soheila, Ghorchi Beygi, Ehsan
Format Journal Article
LanguageEnglish
Published Taylor & Francis 02.01.2018
Subjects
African countries
economic growth
emissions
financial development
PMG
renewable energy consumption
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Summary:This empirical study examines the impact of economic growth, renewable energy, energy consumption, financial developments, trade openness, and urbanization growth on CO 2 emissions using the Pooled Mean Group (PMG) approach and Granger Causality in the EKC model a data set of 25 African countries over the period 1985-2015. The results showed that increases in renewable energy consumption and trade openness decrease CO 2 emissions, and the EKC hypothesis is supported for the African countries. Granger's causality results indicated the presence of bidirectional causality between economic growth and financial development and CO 2 emissions. These results could support policymakers manage financial development and consider clean investments and other ecological aspects for sustainable urban development. The causality tests showed a unidirectional causality running from renewable energy consumption to CO 2 emissions in African countries.
ISSN:1556-7249
1556-7257
DOI:10.1080/15567249.2017.1377319