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    Crude oil production in the Persian Gulf amidst geopolitical risk, cost of damage and resources rents: Is there asymmetric inference?
    (ELSEVIER SCI LTD, THE BOULEVARD, LANGFORD LANE, KIDLINGTON, OXFORD OX5 1GB, OXON, ENGLAND, 2020) Olanipekun, Ifedolapo Olabisi; Alola, Andrew Adewale
    The strategic importance of the Strait of Hormuz to the global oil market has been linked with incessant tensions among the oil player states in recent times. As a main contribution to literature, the current study examines crude oil production in the Persian Gulf amidst geopolitical risks. In achieving this objective, the non-linear autoregressive distributed lag (NARDL) approach is employed to examine the impact of geopolitical risk, cost of oil damage, total resources rents and crude oil price on the production of crude oil in the Persian Gulf over the period 1975–2018. The study found that positive shocks in geopolitical risk and cost of damage have statistically significant and dynamic negative impacts on oil production in the short-run. However, negative shock in the dynamic value of crude oil price in the long run and short-run exerts a statistically significant and negative impact on the crude oil production. Additionally, whether there is a positive or a negative shock in the resources rents, it causes a significant positive impact on oil production in the long run. Therefore, the current study offers policy indication that eliminating or reducing regional tension in the Persian Gulf has the potential of minimizing oil flow hindrances in the Strait of Hormuz and other crude oil exploration platforms and transportation channels across the globe.
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    Dynamic correlation among renewable energy, technology, and carbon markets: Evidence from a novel nonparametric time-frequency approach
    (PERGAMON-ELSEVIER SCIENCE LTD, THE BOULEVARD, LANGFORD LANE, KIDLINGTON, OXFORD OX5 1GB, ENGLAND, 2024) Özkan, Oktay; Olanipekun, Ifedolapo Olabisi; Olasehinde-Williams, Godwin
    In addressing the challenges of energy security and climate change, ongoing efforts involve the development of innovative technologies to support the shift from conventional to clean energy sources. Concurrently, the establishment of carbon markets aims to facilitate a decrease in carbon emissions by enabling the trade of carbon credits. This study adds to the energy-climate discussion by examining the evolving dynamics of returns on investments in renewable energy, technology, and carbon markets. Specifically, the time-varying correlation among renewable energy, technology, and carbon markets in the European Union is examined from September 18, 2017 to December 14, 2022. The techniques employed for empirical analyses are the nonparametric timefrequency, Benjamini-Hochberg, and Benjamini-Yekutieli correlation techniques, as well as the time-varying Granger causality. Highlights from the results are as follows. Renewable energy, technology, and carbon markets exhibit time and frequency variations in their relationships, with significant correlations notably present during periods marked by major shifts in energy policy. Secondly, renewable energy and carbon markets exhibit very weak or even absent correlation, indicating their suitability for portfolio diversification. Furthermore, investors could benefit significantly by including both technology and carbon markets in their portfolios to reduce overall risk. Several additional recommendations are also provided in this study.
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    Human Capital Flight in ECOWAS Subregion: The Heterogeneous Influences of Macroeconomic and Institutional Factors
    (WILEY, 111 RIVER ST, HOBOKEN 07030-5774, NJ, 2025) Olanipekun, Ifedolapo Olabisi; Irughe, Roland Ighiwiyisi
    This study demonstrates a deep concern about the forces behind the recent upsurge of human capital flight in ECOWAS despite the crucial need for human capital in their development process. In five separate models, the heterogeneous impacts of macroeconomic and institutional variables on migration in ECOWAS are examined between 2009 and 2023 using a panel quantile approach with nonadditive fixed effects. The results explain that the impacts of the selected macroeconomic and institutional determinants of human capital flight are heterogeneous through the quantiles. Specifically, poor institutional qualities in terms of governance, corruption, freedom and accountability, and political stability are important sources of human capital flight. There are more robust indications that human capital flight increases as income and unemployment increase while it reduces with increased life expectancy. The study recommends stronger institutional frameworks to increase public confidence and reduce pessimism. Peaceful political transitions, equity, transparency, and effective governance can create more attractive economic opportunities to reduce the problem of unemployment and, ultimately, reduce human capital flight in ECOWAS.