Theoretical and Applied Economics
No. 4 / 2022 (633), Winter
Energy consumption and economic growth nexus in Africa: New insights from emerging economies
University of Nigeria, Nigeria
Enoh Hilda OLELE
Delta State University, Nigeria
Ngozi Patricia BUZUGBE
Delta State Polytechnic, Nigeria
Abstract. With a potential energy crisis on the horizon in terms of huge energy demand-supply gap, the nature of the energy consumption level-economic growth nexus in 10 emerging economies in Africa. Utilizing a non-linear modeling technique between 1980 and 2020, the study found that Nigeria, South Africa, Ghana, Ethiopia, and Kenya have causal and co-integrated relationships. Several forms of causality were found across countries and timeframes. Among other policy implications, the study specifically shows that possibly due to country-specific characteristics, energy policies may not impact economic growth in Angola, Côte d'Ivoire, Benin, Congo DR and Cameroon. The need to design growth-stimulating energy policies was re-emphasized.
Contents
Development banks – promoters of economic development?
The nexus between global oil prices and Islamic and conventional stock markets in the developed and developing countries
American bilateral trade with emerging economies and its influence on world economic recovery post Covid-19: Analysis through VECM
Energy poverty and the vulnerable energy consumer in Romania: A curious case of policy schizophrenia
Transitions into self-employment in European Union and Israel: Field study
A cross country analysis of components of economic growth through the growth accounting approach
Financial liberalization and economic growth: The case of Algeria
Financial inclusion in sub-Saharan Africa: Benchmarking against peer developing countries
Cointegration and stock market interdependence: Evidence from India and selected Asian and African stock markets
Government subsidies and income inequality in Algeria: An analytical and empirical study
An analysis of the effect of widespread unemployment on corruption
The Russia-Ukraine invasion toward increasing food security threat for population: An empirical study using T-GARCH model
Energy consumption and economic growth nexus in Africa: New insights from emerging economies
Two conditions which induce Giffen behavior in any numerical analysis if applied to the Wold-Juréen (1953) utility function
How large is the size of Côte d'Ivoire's informal sector? A MIMIC approach
Portfolio construction and performance evaluation: Evidence from India and Iran
Cost structures, technology levels and collusion
The trend of the economic evolution in Romania in the context of crises