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This paper examines the relationship between financial development, economic growth and energy consumption in Cote d’Ivoire over the period 1971-2011. To do so, the study first built a synthetic indicator of financial development through the principal component analysis technique (PCA) and used four energy sources such as electric power consumption, electricity production from renewable sources, electricity production from oil sources and electricity production from hydroelectric sources. Then, employing the autoregressive distributed lag (ARDL) bounds testing approach to cointegration, we find that there is a long run relationship between financial development, economic growth and energy consumption sources. Furthermore, the results of the vector error correction models (VECM) reveal unidirectional causality running from financial development to energy consumption sources, bidirectional causality between economic growth and energy consumption and unidirectional causality from financial development to economic growth in the long run. The mixed results are due to the use of different proxies for energy consumption. Accordingly, this paper recommends that policy makers should solicit the support of financial sector in order to solve energy problems and further the diversification of the energy consumption sources since financial development has a positive effect on energy consumption in long run. Moreover, government should develop public-private partnership (PPP) to stimulate economic growth, improve the access to energy and maintain a sustainable development in Cote d’Ivoire.

This paper aims to test the validity of the causality between financial development and economic growth on energy consumption in three of North African countries. The study employs error coreection model and Granger causaility test to analyza a dataset for three North African countries covering a period from 1980 to 2010. The applied model is based on demand function for energy to assess the existing of causal relationship of energy with financial development, and economic growth, in Algeria, Egypt, and Tunisia. Empirical results provide a positive significant relating financial development and energy consumption in Algeria, and Tunisia. On the other hand, Egypt’s results show a negative significant relationship relating energy consumption and financial development. The paper is valuable to policy makers in North African countries in their pursuit for achieving economic growth as it clarifies the urge for the financial development reforms to stimulate investment and growth.

This paper investigated this disparity in the literature using Nigeria data from 1980 to 2016. In doing this, energy consumption was disaggregated, and their impacts on economic growth investigated using a modified Ordinary Least Square technique which allows for time gaps in the model. It was observed that only renewable energy impacted on economic growth in the long-run whereas non-renewable energy component impacted on economic growth in the short-run. Therefore, the study sees the impact of energy consumption on economic growth to be indistinct in Nigeria within the period under review. This further buttresses the need for improvement in electricity production and distribution in Nigeria. Given the importance of energy consumption on productivity, the study, therefore, suggests policies/measures that will bring about increasing the supply or improvement of energy production in the country.

Energy is one of the most important dynamics of economic growth all over the world. Specially developing countries are in need of much more enery to provide economic growth. In this study, the relationship between energy consumption, economic growth, inflation and trade openness is exaimined by using structural VAR model for fragile five countries which have similar characteristics in terms of macroeconomic indicators. The analysis carried out with annual data that contains 1971-2013 period for fragile countries which contains of Turkey, South Africa, India, Indonesia and Brazil. According to the empirical results of the study, shocks that emerged in economic growth affect energy consumption positively but decreasingly in all countries. A substantial part of changes in energy consumption are explaned with economic growth in Turkey, India and Brazil. More than 80 percent of changes in energy consumption arise from energy consumption in South Africa and Indonesia.

<p>This paper aims to test the validity of the causality between financial development and economic growth on energy consumption in three of North African countries. The study employs error coreection model and Granger causaility test to analyza a dataset for three North African countries covering a period from 1980 to 2010. The applied model is based on demand function for energy to assess the existing of causal relationship of energy with financial development, and economic growth, in Algeria, Egypt, and Tunisia. Empirical results provide a positive significant relating financial development and energy consumption in Algeria, and Tunisia. On the other hand, Egypt’s results show a negative significant relationship relating energy consumption and financial development. The paper is valuable to policy makers in North African countries in their pursuit for achieving economic growth as it clarifies the urge for the financial development reforms to stimulate investment and growth.</p>

Arising carbon emissions and accelerating industrialization have intensified concerns regarding sustainable development in emerging markets. This study examines whether innovation functions as a direct mechanism for decarbonization and whether innovation-driven environmental dynamics follow the Environmental Kuznets Curve (EKC) framework. Using panel data from emerging market economies over the period 2000–2020, the study applies fixed-effects estimation techniques to investigate both the linear and nonlinear effects of innovation on CO₂ emissions. Innovation is measured through research and development (R&D) expenditure, while industrialization, urbanization, trade openness, financial development, and ICT indicators are incorporated as control variables. The findings demonstrate that innovation significantly reduces CO₂ emissions, suggesting that technological advancement supports environmental sustainability through cleaner production systems and efficiency-enhancing mechanisms. However, the analysis does not support the existence of an innovation-driven EKC, as the nonlinear innovation term remains statistically insignificant. The study contributes to environmental sustainability literature by extending the EKC framework beyond conventional income-centered explanations and positioning innovation as a direct decarbonization mechanism in emerging economies. The findings further provide practical implications for policymakers seeking to accelerate low-carbon transitions through innovation-oriented industrial and technological policies.

This study finds that green loans and green mortgages are positively and statistically significantly associated with CO₂ emissions in Nigeria, contrary to their intended role in climate mitigation. Using annual time-series data from 2012 to 2024 obtained from the Central Bank of Nigeria (CBN) Statistical Bulletin and the World Bank World Development Indicators (WDI), the study examines the effect of loan-based climate finance on carbon dioxide (CO₂) emissions, with gross domestic product per capita included as a control variable. The Autoregressive Distributed Lag (ARDL) framework is employed due to its suitability for small samples and mixed orders of integration. The Pesaran et al. (2001) bounds testing approach confirms the existence of a long-run relationship, and the model is re-specified as an error-correction model (ECM) to capture short-run dynamics and long-run adjustment. The results show that green loans and green mortgages increase emissions in the long run, while short-run effects are weak and largely insignificant. The error-correction term is negative and statistically significant, indicating adjustment toward the long-run equilibrium. These findings suggest that existing green credit instruments in Nigeria have not yet translated into measurable emissions reduction, reflecting weaknesses in credit targeting and monitoring. The study highlights the need for clearer classification standards, stronger regulatory oversight, and improved monitoring frameworks to ensure that climate finance effectively supports emissions reduction objectives.

The Southern African Development Community (SADC) region possesses a variety of energy resources yet continues to face challenges in meeting its energy demands. The aim of the study was to examine the current status of renewable energy development and green finance systems in the SADC nations. The research employed panel autoregressive distributed lags (ARDL) on time series data from 16 SADC member nations spanning 2003 to 2022, utilising E-views 13. The study's results indicate no causal relationship between the variables in the near term. Conversely, over the long term, an alteration in the net installed capacity of electricity generating plants in SADC accounts for 55% of the GDP. A variation in renewable energy shares within total final energy consumption adversely affects GDP by 155%, whereas renewable energy producing capacity adds 6.2%. The comprehensive model is statistically significant and possesses a negative coefficient. Consequently, ceteris paribus, investment in renewable energy within the SADC region can be adjusted at a rate of 96%. Moreover, green finance can substantially enhance the region's energy infrastructure and diminish its reliance on fossil fuels over time. The results underscore the significance of private sector engagement and the advancement of green financing for both national and international development. According to the findings, regulatory authorities in the SADC area should augment investment in diverse new energy initiatives that may assist in alleviating climate change over the long term. The policy recommendation urges SADC to collaboratively engage with global climate financing mechanisms, develop regional green finance markets, and advance a low-carbon economy by fostering renewable energy expansion, encouraging private sector investment, and enhancing green finance initiatives

This study explores the effect of oil production (OP) on environmental sustainability in relation to the role of institutions in the Organisation of the Petroleum Exporting Countries (OPEC), using annual data from 1990 to 2022. Estimates from the dynamic common correlated effects and dynamic seemingly unrelated regression indicate that oil production heightens the ecological footprint, while this devastating impact is lessened by its interaction with institutional quality. Furthermore, there is evidence that ecological footprint and oil production are causally related to economic growth in both directions. To promote a sustainable environment, oil production activities in OPEC should be incorporated into a strong institutional structure that supports the environment. OPEC should also enhance the proportion of renewable energy in its energy mix through subsidies, tax holidays and carbon pricing.

This paper investigated this disparity in the literature using Nigeria data from 1980 to 2016. In doing this, energy consumption was disaggregated, and their impacts on economic growth investigated using a modified Ordinary Least Square technique which allows for time gaps in the model. It was observed that only renewable energy impacted on economic growth in the long-run whereas non-renewable energy component impacted on economic growth in the short-run. Therefore, the study sees the impact of energy consumption on economic growth to be indistinct in Nigeria within the period under review. This further buttresses the need for improvement in electricity production and distribution in Nigeria. Given the importance of energy consumption on productivity, the study, therefore, suggests policies/measures that will bring about increasing the supply or improvement of energy production in the country.