Financing the energy transition in a green sub‐Saharan African ( SSA) environment : Does energy intensity matter?
Abstract This study looked at the impact of financial development, environmental sustainability and energy intensity on the transition of SSA countries to safe and green energy use. This was pursued using a dynamic panel model—system generalized method of moments (SGMM), given its capacity to address endogeneity problems in panel estimation processes. The study used datasets covering a 25‐year period (1995–2020) for 46 countries out of 52 SSA countries chosen on the basis of the availability of data on energy and financial development indicators. Findings arising from this study are summarized as follows: firstly, that energy transition is negatively responsive to the monetization ratio and positively responsive to bank development. Secondly, that the energy transition is a response to increasing emissions in the studied countries. In addition, it was discovered that the greater the degree of energy intensity (energy inefficiency), the higher the need for an energy transition. Energy sources whose intensity vary inversely with productive activities are recommended for SSA countries. Also, to meet the Paris climate goals, there is the need for policies that drive energy transitions while decoupling and reducing the use of fossil fuels..
| Medienart: |
E-Artikel |
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| Erscheinungsjahr: |
2022 |
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| Erschienen: |
2022 |
| Enthalten in: |
Zur Gesamtaufnahme - volume:46 |
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| Enthalten in: |
OPEC Energy Review - 46(2022), 4, Seite 413-423 |
| Beteiligte Personen: |
Kalu, Ebere Ume [VerfasserIn] |
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| Anmerkungen: |
Copyright © 2022 Organization of the Petroleum Exporting Countries |
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| Umfang: |
11 |
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| doi: |
10.1111/opec.12265 |
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| funding: |
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| Förderinstitution / Projekttitel: |
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WLY011922044 |
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| 520 | |a Abstract This study looked at the impact of financial development, environmental sustainability and energy intensity on the transition of SSA countries to safe and green energy use. This was pursued using a dynamic panel model—system generalized method of moments (SGMM), given its capacity to address endogeneity problems in panel estimation processes. The study used datasets covering a 25‐year period (1995–2020) for 46 countries out of 52 SSA countries chosen on the basis of the availability of data on energy and financial development indicators. Findings arising from this study are summarized as follows: firstly, that energy transition is negatively responsive to the monetization ratio and positively responsive to bank development. Secondly, that the energy transition is a response to increasing emissions in the studied countries. In addition, it was discovered that the greater the degree of energy intensity (energy inefficiency), the higher the need for an energy transition. Energy sources whose intensity vary inversely with productive activities are recommended for SSA countries. Also, to meet the Paris climate goals, there is the need for policies that drive energy transitions while decoupling and reducing the use of fossil fuels. | ||
| 700 | 1 | |a Arize, Chuck Augustine |4 aut | |
| 700 | 1 | |a Okoyeuzu, Chinwe R. |4 aut | |
| 700 | 1 | |a Nwafor, Florence U. |4 aut | |
| 700 | 1 | |a Okwueze, Felicia Osondu |4 aut | |
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