Renewable Energy Use, Environmental Degradation and Economic Growth in Nigeria: Evidence from Dynamic Ordinary Least Squares (DOLS)
Domaine:
environment and energyType de record:
paper
Créateur:
ShuIbrDauUmm
Éditeur:
Hev
Hôte:
This study explores the influence of renewable energy usage and environmental degradation on economic growth in Nigeria, using annual data from 1990 to 2023. The study employed the ADF tests to investigate the stationarity level of the variables, and the estimation reveals that the variables are of I(1) order of integration. The study applied the Johansen cointegration test, and results for both trace and maximum eigenvalue statistics show the existence of long-run associations among variables. The study uses the Dynamic Ordinary Least Squares technique (DOLS), and the empirical findings reveal that renewable energy use, environmental pollution, and labour force have negative influence on economic growth, whereas foreign investment has a positive influence on growth. However, gross capital formation has no significant influence on growth. In light of the empirical findings, the study suggests that renewable energy scheme should move beyond capacity expansion towards rising efficiency, technological enlightenment, and possible integration into the national energy system in order to mitigate its growth-reducing effects
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