Renewable Energy Consumption, Environmental Sustainability, and Economic Growth in Developing Countries

This study investigated the nexus between renewable energy consumption and economic growth in developing countries and the role of environmental sustainability in the nexus between renewable energy consumption and economic growth. To achieve the objective, the researcher employed General Method of Moment (GMM) to solve for the possible problem of endogeneity common in previous studies using data sourced from World Bank. It was discovered that renewable energy consumption has positive but weak impact on economic growth in developing countries but when environmental sustainability is accounted, the impact of renewable energy consumption improves. Similarly, interacting CO2 with renewable energy changes the sign of CO2 from positive to negative. The implication of this study is that renewable energy consumption impacts on the economy might be weak but is justified giving its environmental sustainability potential

How Effective is Monetary Policy in the Presence of High Informality in Nigeria

This study investigates whether the existence of high informality in Nigeria dampens effective transmission of monetary policy variation to retail rates. Using time series data from 1981-2018, the study adopts ARDL model to estimate both the long and short-run impacts of a high informal economy on the effectiveness of monetary policy. Findings reveal that changes in monetary policy rate has a significant positive impact on retail rates and that, without accounting for informality in the long-run, the transmission of monetary policy to commercial banks' average lending rate is about 95 percent. In addition, the study finds that, in the long-run, informality dampens the effectiveness of monetary policy in Nigeria through the interest rate channel by at least 72 percentage points. The authors, therefore, conclude that high presence of informality in Nigeria dampens the effectiveness of the monetary policy and that the size of the informal economy and commercial bank lending rate are positively related

Renewable Energy Consumption, Environmental Sustainability, and Economic Growth in Developing Countries

This study investigated the nexus between renewable energy consumption and economic growth in developing countries and the role of environmental sustainability in the nexus between renewable energy consumption and economic growth. To achieve the objective, the researcher employed General Method of Moment (GMM) to solve for the possible problem of endogeneity common in previous studies using data sourced from World Bank. It was discovered that renewable energy consumption has positive but weak impact on economic growth in developing countries but when environmental sustainability is accounted, the impact of renewable energy consumption improves. Similarly, interacting CO2 with renewable energy changes the sign of CO2 from positive to negative. The implication of this study is that renewable energy consumption impacts on the economy might be weak but is justified giving its environmental sustainability potential

Renewable Energy Consumption, Environmental Sustainability, and Economic Growth in Developing Countries

This study investigated the nexus between renewable energy consumption and economic growth in developing countries and the role of environmental sustainability in the nexus between renewable energy consumption and economic growth. To achieve the objective, the researcher employed General Method of Moment (GMM) to solve for the possible problem of endogeneity common in previous studies using data sourced from World Bank. It was discovered that renewable energy consumption has positive but weak impact on economic growth in developing countries but when environmental sustainability is accounted, the impact of renewable energy consumption improves. Similarly, interacting CO2 with renewable energy changes the sign of CO2 from positive to negative. The implication of this study is that renewable energy consumption impacts on the economy might be weak but is justified giving its environmental sustainability potential

Renewable Energy Consumption, Environmental Sustainability, and Economic Growth in Developing Countries

This study investigated the nexus between renewable energy consumption and economic growth in developing countries and the role of environmental sustainability in the nexus between renewable energy consumption and economic growth. To achieve the objective, the researcher employed General Method of Moment (GMM) to solve for the possible problem of endogeneity common in previous studies using data sourced from World Bank. It was discovered that renewable energy consumption has positive but weak impact on economic growth in developing countries but when environmental sustainability is accounted, the impact of renewable energy consumption improves. Similarly, interacting CO2 with renewable energy changes the sign of CO2 from positive to negative. The implication of this study is that renewable energy consumption impacts on the economy might be weak but is justified giving its environmental sustainability potential