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    Assessment of the influence of institutions and globalization on environmental pollution for open and closed economies
    (Springer Science and Business Media B.V., 2024) Gyamfi, Bright A.; Agozie, Divine Q.; Ali, Ernest Baba; Bekun, Festus Victor; Asongu, Simplice A.
    As the environmental sustainability effectiveness of various political systems is taken into consideration, it is doubtful as to whether the presumption of the overall efficiency of democracy can be sustained in global governance architecture. The effectiveness of autocracies and democracies (i.e., governance indicators are compared in the present study) with reference to strengths and weaknesses in environmental objectives. This analysis explores the effect of autocracy, democracy, as well as the trend of globalization on CO2 emissions for open and closed economies from 1990 to 2020. Crucial indicators such as economic growth, renewable energy and non-renewable energy are controlled for while examining the roles of economic expansion on the disaggregated energy consumption portfolios for both open and closed economies. The empirical analysis revealed some insightful results. First, for the open economies, with the exception of non-renewable energy which shows a positive significant impact on emissions, all variables show a negative effect on emissions. Furthermore, the closed economies result indicate that, apart from renewable energy which has a negative relationship with emissions, all the variables including the interaction terms have a positive relation with emissions. However, an inverted U-shaped environmental Kuznets curve hypothesis was validated for both economies. © The Author(s) 2024.
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    An empirical assessment of the tripartite nexus between environmental pollution, economic growth, and agricultural production in Sub-Saharan African countries
    (Springer Heidelberg, 2023) Ali, Ernest Baba; Gyamfi, Bright Akwasi; Bekun, Festus Victor; Ozturk, Ilhan; Nketiah, Prince
    A lot of attention has been paid to environmental pollution worldwide, due to the increase in anthropogenic activities. Massive investment in non-renewable energy options raises questions regarding environmental sustainability and how to maximize food and non-food output while still preserving a healthy ecosystem. To this end, the present study explores the three-way nexus between economic growth, CO2 emission, and agriculture-value added will accounting for other control variables across a balanced panel of selected African economies from 1997 to 2020. Panel econometrics method of the generalized method of moments (two-step difference GMM) is used to obtain a robust result. From the present study, the environmental pollution model shows that economic growth significantly contributes to environmental pollution in Africa. Additionally, the food price index, capital, and FDI promote pollution, while agricultural production and labor decrease pollution. In the case of the economic growth model, the findings reveal that environmental pollution supports the growth-led pollution hypothesis. Also, the food price index and capital ameliorate economic growth, while foreign direct investments decrease economic growth. Finally, the agricultural production model indicates that economic growth increases agricultural production when the interaction term between GDPC and FDI is included in the model. In summary, the combination of explanatory variables, environmental pollution, capital, and foreign direct investment decreases agricultural production. On the contrary, the food price index and labor promote agricultural production in Africa. Furthermore, the study provides a lot of policies for authorities and stakeholders in Sub-Saharan African countries and other developing economies.
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    Prospect of trade and innovation in renewable energy deployment: A comparative analysis between BRICS and MINT Countries
    (Pergamon-Elsevier Science Ltd, 2024) Ofori, Elvis K.; Bekun, Festus Victor; Gyamfi, Bright Akwasi; Ali, Ernest Baba; Onifade, Stephen T.; Asongu, Simplice A.
    The current study explores the impact of technological innovation and trade openness on clean energy while accounting for economic growth, access to electricity, pollution, industrial restructuring, and urbanization using data from 1990 to 2020 for both the MINT and BRICS economies. A series of tests were performed for a robust analysis using second generation econometrics approaches before proceeding to investigate the long-run linkages between renewable energy and the duo of innovation and trade using the Prais-Winsten regression model with panel-corrected standard errors (PCSE). The Driscoll-Kraay standard errors test was applied for robustness checks. The results, firstly confirm the presence of heterogeneity, cross-sectional dependence, and cointegration among the selected variables. Secondly, technological innovation as a renewable energy determinant demonstrated negative elasticities in both BRICS countries and the full sample, but a positive elasticity in the MINT countries. Thirdly, concerning trade liberalisation, negative elasticities were obtained for the full sample and MINT countries, while the elasticities were positive for the BRICS bloc. Fourthly, the roles of economic growth and environmental pollution reveal a negative impact on renewable energy consumption for all samples while urbanisation and industrial restructuring promote renewable energy developments only in the BRICS bloc. Policy implications are discussed.
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    Taking stock of business strategy and environment (sustainable development): evidence of disparities in research efforts and knowledge gaps - a bibliometric review
    (Springer Heidelberg, 2023) Ofori, Elvis Kwame; Ali, Ernest Baba; Gyamfi, Bright Akwasi; Agbozo, Ebenezer
    Despite a spike in publications on business strategies focused on environmental awareness subjects in recent years, business-environment nexus research has recently been criticized for failing to address urgent issues like climate change. Therefore, we endeavored to do a trend analysis to find knowledge gaps in business studies related to the interaction between businesses, the environment, and society using bibliometric. Our study reveals that the area of business sustainability has evolved over the past decade from an internal conquest to include external indices like the environment, such as the debate over the relative merits of social and economic performance and the greening of management. Our findings point to three (3) main conclusions. (1) Many corporations see the urgency of green practices and have distinctive organizational sustainability and business strategies for environmental crises. (2) Business strategy and environment research are concentrated within developed countries to the neglect of developing countries. (3).The literature on business sustainability has not yet given much attention to the managerial implications and effects of climate change. Therefore, scholars must test and develop business-environmental nexuses to aid in sustainable production and consumption improvement.