The Nexus of Renewable Energy Consumption and Economic Growth in Sub-Saharan Africa
Author | : F. Bondinuba |
Publisher | : |
Total Pages | : 0 |
Release | : 2023 |
ISBN-10 | : OCLC:1398460091 |
ISBN-13 | : |
Rating | : 4/5 (91 Downloads) |
Download or read book The Nexus of Renewable Energy Consumption and Economic Growth in Sub-Saharan Africa written by F. Bondinuba and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Purpose: The study examines the relationship between renewable energy consumption and economic growth in Sub-Saharan Africa.MethodologyPedronicointegration test was employed to examine the long-run relationship between economic growth and renewable energy consumption in Sub-Saharan Africa. The study also used the Granger causality test to determine the direction of causality between economic growth and renewable energy consumption.Findings: It emerged that renewable energy consumption Granger causes economic growth in the short run. However, economic growth does not granger cause renewable energy consumption in the short run. Moreover, economic growth Granger causes granger energy consumption in the long run, but energy consumption does not cause economic growth in the long run.Originality: This paper is the first attempt to empirically study the relationship between renewable energy and economic growth in Sub-Saharan Africa using the Pedroni Cointegration technique and Granger causality test.LimitationsDue to the unavailability of data, not all countries in Sub-Sahara Africa were included in the data analysis.Recommendation: Government agencies should implement policies that encourage a switch from fossil fuel to renewable energy consumption to ensure sustained economic growth.ConclusionIt concludes that renewable energy consumption drives economic growth.