Harmonizing renewable energy and economic growth in Sub-Saharan Africa: the transformative potential of ICT

Jeremiah Msugh Tule (), Peter Offum, Ilham Haouas (), Seyi Akadiri () and Olufunke Meadows ()
Additional contact information
Jeremiah Msugh Tule: Central Bank of Nigeria
Ilham Haouas: Abu Dhabi University, COBSA
Olufunke Meadows: Westcliff University

International Economics and Economic Policy, 2024, vol. 21, issue 3, No 4, 617-648

Abstract: Abstract Despite the positive impact that renewable energy can offer its development is not necessarily and widely implemented by countries. It is against this backdrop this study investigates whether renewable energy contribute to economic growth in sub-Saharan Africa (SSA) between the periods 2005–2022. The study accounted for the role of information communication technology and globalization in stimulating economic growth. For empirical analysis, this study adopted Pooled Mean Group (PMG) Autoregressive Distributed Lag Model approach and other batteries of techniques for robustness testing. It was observed that both renewable energy and information communication technology (ICT) indicate a negative and significant impact on economic growth in the long run. The study further established a positive and significant impact of globalization and economic growth in the long run. This indicates the vital role of ICT and globalization in accelerating economic growth. In terms of policy suggestions, this study believes that infrastructural development, incentives among others could make renewable energy more affordable and attractive for private sector participation. There is also the need to provide research funding to develop home-produced technology to improve energy supply in the region, particularly in rural areas.

Keywords: Renewable energy; Economic growth; SSA; PMG; Panel data (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s10368-024-00617-9 Abstract (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:iecepo:v:21:y:2024:i:3:d:10.1007_s10368-024-00617-9

Ordering information: This journal article can be ordered from
http://www.springer. ... cs/journal/10368/PS2

DOI: 10.1007/s10368-024-00617-9

Access Statistics for this article

International Economics and Economic Policy is currently edited by Paul J.J. Welfens, Holger C. Wolf, Christian Pierdzioch and Christian Richter

More articles in International Economics and Economic Policy from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().