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    Assessing the linkage between energy consumption, fnancial development, tourism and environment: evidence from method of moments quantile regression
    (SPRINGER HEIDELBERG, TIERGARTENSTRASSE 17, D-69121 HEIDELBERG, GERMANY, 2022) Ohajionu, Uchechi Cynthia; Gyamfi, Bright Akwasi; Haseki, Murat İsmet; Bekun, Festus Victor
    According to the United Nations World Tourism Organization (UNWTO), tourism sector ranks high in terms of her contribution to economic growth and employment opportunity generation in most economies. Several studies have been documented in the extant literature on the nexus between emission, tourism, and economic growth. However, the role of foreign direct investment that highlights either pollution haven or halo hypothesis and pivotal role of domestic credit to private sector in an environmental Kuznets curve (EKC) environment is lacking in the extant literature. To this end, this study used augmented mean group (AMG) and method of moment quantile regression (MM-QR) approaches to explore the nexus between per capital income and its square, tourism, foreign direct investment, domestic credit to private sector and CO2 emission. Empirical results show that tourism had a negative signifcant relationship with CO2 emission. Furthermore, income on the other hand had positive relationship with emissions while its square had negative relationship with emissions. This result also shows the presence of EKC indicating the inverted U-shaped curve. FDI has shown a positive signifcant relationship with pollution which indicates the pollutant haven hypothesis (PHH), and credit to private sector shows a positive relationship with CO2 emission. On the causality analysis from Dumitrescu and Hurlin panel causality test, there was a bi-directional causality between: tourism and CO2 emission, per capital income and CO2 emission as well as domestic credit and CO2 emission. From these outcomes, it shows that tourism development is not detrimental to environmental quality in the Mediterranean region investigated. However, there is need for caution on FDI infux and dirty economic activities that might compromise environmental quality in the study bloc.
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    Glasgow climate change conference (COP26) and its implications in sub-Sahara Africa economies
    (PERGAMON-ELSEVIER SCIENCE LTD, THE BOULEVARD, LANGFORD LANE, KIDLINGTON, OXFORD OX5 1GB, ENGLAND, 2023) Adedoyin, Festus Fatai; Bekun, Festus Victor; Hossain, Md. Emran; Ofori, Elvis Kwame; Gyamfi, Bright Akwasi; Haseki, Murat İsmet
    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.