The Importance of Green Energy Consumption and Agriculture in Reducing Environmental Degradation: Evidence From Sub-Saharan African Countries

Gholamreza Zandi and Muhammad Haseeb

International Journal of Financial Research, 2019, vol. 11, issue 5, 215-227

Abstract: In recent period of energy focus countries have paid more consideration to the argumentative topic of green energy in both developed and developing economies. Renewable energy is also called green energy. It is described as the energy that is collected by renewable bases of wind, waves, geothermal, sunlight, heat and rain etc. and gives least harm to the nature and environment. The rapid placing of green energy is providing a noteworthy economic profit, energy security and environment change mitigation. Therefore, this current research investigates the association of green energy consumption with environmental degradation by utilizing panel data of 35 sub-Saharan African countries from 1995 to 2017. Moreover, we utilize the advanced panel techniques to investigate the cross-section independence. We also apply CIPS unit root test, Westerlund (2007) bootstrap cointegration, Panel Pedroni and Kao co-integration, FMOLS, DOLS and heterogeneous panel causality methods. The results confirm that all factors are connected in the long-term period. The outcomes also explain that the green energy utilization has a negative impact on environmental hazards and support to decrease environmental hazards. Likewise, globalization has a positive and significant effect on environmental hazards. Also, the agriculture productions also play a significant and positive impact on environmental degradation. Finally, the heterogeneous panel causality confirms a bi-directional causal relationship between green energy consumption and environmental degradation in all sub-Saharan African countries. This current research offers valuable strategy suggestions for the management and the policymakers.

Keywords: green energy; agriculture production; environmental degradation; Sub-Saharan African countries; panel estimations (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:jfr:ijfr11:v:10:y:2019:i:5:p:215-227

DOI: 10.5430/ijfr.v10n5p215

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