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    Beyond the Environmental Kuznets Curve in South Asian economies: accounting for the combined effect of information and communication technology, human development and urbanization
    (Springer Science and Business Media B.V., 2023) Gyamfi, Bright Akwasi; Agozie, Divine Q.; Bekun, Festus Victor; Köksal, Cihat
    The aim of this study is to investigate the role of information and communication technology (ICT) and human capital development on environmental degradation (CO2) using the Environmental Kuznets Curve (EKC) framework in line with the 21st Conference of the Parties to the UNFCCC (COP21). Five South Asian countries namely: Bangladesh, India, Nepal, Pakistan and Sri Lanka were considered in the context of the present study between the annual time period of 1990 to 2016. Pedroni cointegration test and Kao’s residual cointegration test are used to assess long term relationship while Dumitrescu and Harlin (Econ Model 29:1450–1460, 2012) is used to test causality relationship between the variables. Empirical findings from the study showed significant effects of ICT import, renewable energy usage and human development decrease CO2 levels while ICT export and urbanization increase carbon emission levels in the long run. Furthermore, a significantly positive association is observed between economic growth and CO2 emission while the square of national income exerts a significantly negative effect on environmental degradation, which supports the EKC for the South Asian states. From a practical implication context, policymakers should not only concentrate on their economic growth trajectory improvement but also enhance the improvement of their ICT infrastructure, invest more in renewable energy sources, follow policies that would help the countries to raise human development standards, as well as consciousness for environmental sustainability should be pursued.
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    Can technological innovation, foreign direct investment and natural resources ease some burden for the BRICS economies within current industrial era?
    (Elsevier Ltd, 2022) Gyamfi, Bright Akwasi; Agozie, Divine Q.; Bekun, Festus Victor
    Economic advancement has tended to affect the processes of industrialization, which has increased the value of exploited natural resources via the application of technology. Intensive use of natural resources via total reserves, technological innovation, foreign direct investment (FDI), and renewable energy can have an impact on the environment. Considering this, the present study investigates the nexus between industrialization, total reserves, inflows of FDI, technical innovation, renewable and natural resources, and CO2 emissions in the case of BRICS. To this end, annual frequency data for BRICS from 1990 to 2019 are employed in panel framework. The study employs a battery of econometric techniques, namely the Augmented Mean Group (AMG), Common Correlated Effects Mean Group (CCEMG), and Driscoll-Kraay estimators to explore the underlined relationship. The cointegration results based on Westerlund, J. (2007) show that there exists a long-run equilibrium relationship between the study outlined variables over the investigated period. From the empirical analysis, technological innovation and renewable energy both reduce CO2 emissions while industrial value-added, natural resources, FDI and total reserves contribute to the degradation of the environment. Additionally, the interaction between industrial value-added and technological innovation also has negative impact on the BRICS countries’ environment. Based on these outcomes, the BRICS economies are enjoined to pursue green technology growth without compromise for environmental quality in the bloc. Finally, numerous significant policy ramifications for protecting environmental quality in BRICS economies have been proposed in the concluding section.
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    Discerning the role of renewable energy and energy efficiency in finding the path to cleaner consumption and production patterns: New insights from developing economies
    (Elsevier, 2022) Shahbaz, Muhammad; Nwani, Chinazaekpere; Bekun, Festus Victor; Gyamfi, Bright Akwasi; Agozie, Divine Q.
    This study provides empirical evidence on the relationship between energy efficiency and production-and -consumption based carbon emissions by assessing the impact of population size, income, and clean energy on the carbon dioxide (CO2) emissions function. Method of Moments Quantile Regression (MM-QR) and Augmented Mean Group (AMG) estimators are applied to observe long-term associations between the variables, and Dumitrescu-Hurlin (DH) Ganger causality test is used to identify the direction of causality. Findings reveal that, across all specifications, energy intensity and population size have positive (increasing) impact on both estimates of CO2 emissions while renewable energy use has a negatively significant impact and stronger on consumption -based estimates. The presence of an inverted U-shaped curve in the relationship between per capita income and CO2 emissions, as predicted by the Environment Kuznets curve (EKC) hypothesis, only exists when CO2 emissions are calculated based on production pattern. Further empirical analysis based on DH causality tests show a bidirectional causality between energy intensity and production-based CO2 emissions, population size and consumption-based CO2 emissions, per capita income and consumption-based CO2 emissions, and energy in-tensity and renewable energy use. In addition, a unidirectional causality runs from per capita income to production-based CO2 emissions, and from energy intensity and renewable energy use to consumption-based CO2 emissions. This analysis outlines a paradigm for the formulation of a green development strategy in developing economies via energy and environmental resources.
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    Environmental sustainability and ecological balance dilemma: accounting for the role of institutional quality
    (Springer Science and Business Media Deutschland GmbH, 2022) Agboola, Phillips O.; Bekun, Festus Victor; Agozie, Divine Q.; Gyamfi, Bright Akwasi
    Global warming is a global menace mainly driven by human anthropogenic activities. There is a need for environmental sustainability amidst increased economic growth. To this end, this study draws motivation from the United Nations Sustainable Development Goals (UNSDGs) with special focus on climate change mitigation and ecological balance. Thus, the present study analyses the dynamic relationship between economic growth, conventional energy consumption, access to technological innovation, economic globalisation, and the pertinent role of institutional quality for the case of the Russian Federation. This study employed novel combined Bayer and Hack cointegration test in conjunction with Pesaran’s ARDL bounds testing for robustness. Both tests validate a long-run equilibrium relationship between the outlined variables. Furthermore, empirical results show that increase in economic activities and consumption of energy that stem from a fossil-fuel basis both have deteriorating effect on environmental sustainability for Russia. Additionally, effect of globalisation shows mixed results, such as, in the short run, economic globalisation dampens environmental quality as increase in global integration exacerbates environmental quality, while, in the long term, globalisation improves the quality of the environment. On the contribution of institutional quality, it improves environmental sustainability over the investigated period. Interestingly, renewable is seen as a panacea for environmental sustainability in the Russian Federation given its pertinent effect to improve the environment of Russia. From a policy lens, there is need for a paradigm shift to renewables and clean technologies to mitigate the effect of climate change issues. The concluding section presents more policy strategies.
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    Is sustainable energy consumption, technological advancement and urbanization fast addressing south Asia’s green energy expansion deficits?
    (Springer Science and Business Media B.V., 2024) Gyamfi, Bright Akwasi; Adebayo, Tomiwa Sunday; Agozie, Divine Q.; Bekun, Festus Victor; Koy, Ayben
    The United Nation’s sustainable development goals (UN-SDGs) like accessibility to renewable energies (SDG-7), sustainable production and consumption (SDG-12), as well as stable economic growth all centre on the notion of human development (HDI) and reflected in (SDG-8). In line with this motivation, this study explores the environmental sustainability targets for a panel of South Asian economies that are disproportionately affected by a huge energy deficit i.e., energy poverty, and technological immobility. This study considers evidence from south Asian nations to provide the role of certain indicators of human development in the wake of economic development and environmental quality objectives by unraveling the complex relationships between per capita income, access to technological innovation, access to clean energy, and urbanization. Employing a balanced panel econometric model, this study investigate the hypothesized nexus between specific macro-economic variables among South Asian economies. The empirical evidence indicates that the human development index (HDI), per capita income, accessibility to clean energy, technological innovation, as well as urbanization all exhibits a long-run equilibrium relationship over the study period. However, income per capita, accessibility to clean energy and technological innovation all exert a positive impact on HDI for the selected countries, while urbanization shows a negative impact on HDI. Furthermore, causality relationship shows a feedback causality relationship between income per capita, access to clean energy and urbanization with the human development variable, while access to technological innovation has a one-way causality with the HDI. This current study importantly extends the extant knowledge, by presenting new insights into the interaction between human development and its antecedents from a whole new contextual perspective. These outcomes will assist policymakers and stakeholders to obtain new insights into the crucial role of clean energy accessibility, technological innovation, income per capita, and urbanization on HDI processes among South Asian countries.
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    Quantifying the Dynamic Factors Influencing New-Age Users' Adoption of 5G Using TAM and UTAUT Models in Emerging Country: A Multistage PLS-SEM Approach
    (Hindawi Limited, 2023) Dadhich, Manish; Rathore, Sumangla; Gyamfi, Bright Akwasi; Ajibade, Samuel-Soma M.; Agozie, Divine Q.
    Objectives. The 5G has ushered in a new age of life-changing breakthroughs and advancements due to faster speeds, greater bandwidth, and ultra-high expectancy. The study proposes a multistage approach for quantifying the dynamic factors affecting users’ adoption of 5G in emerging countries. Method. This study integrated the technology acceptance model (TAM) and unified theory of acceptance and use of technology (UTAUT) to recommend a comprehensive model that the industry–academia can adopt. In the proposed model, various core hypotheses and subhypotheses were tested by employing 510 5G users of the metro cities of India. An online questionnaire was used to collect the facts, and the data were framed in the conceptual model to test the validation using partial least squares structural equation modeling (PLS-SEM). Results. The findings suggest that users’ perceptions of adopting 5G are overwhelming in that perceived trust was discovered as a mediating enabler between behavioral intention (BI) and selected manifest. Performance expectancy (PE), effort expectancy (EE), social factors (SF), facilitating factors (FF), hedonic motivation (HM), perceived benefits (PB), price value (PV), and habit (HB). Contribution. By identifying key enablers in the suggested model, service providers may better evaluate these aspects, particularly in ensuring reliable infrastructure for 5G service stands. The study is undoubtedly a novel attempt to assist the telecom industry and policymakers in accelerating the adoption of 5G in emerging economies of Asian continents.
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    Toward the fourth industrial revolution among E7 economies: Assessment of the combined impact of institutional quality, bank funding, and foreign direct investment
    (SAGE Publications Inc., 2022) Shahbaz, Muhammad; Gyamfi, Bright A.; Bekun, Festus Victor; Agozie, Divine Q.
    Background: Technological innovation and its paradigm, that is, the Fourth Industrial Revolution-4IR, have shown strong impact on income levels of adopters across the globe. To this end, this analysis examines the impact of bank funding and institutional quality on technological advancement. Objectives: This study adds additional variables such as high-technology exports and foreign direct investment (FDI) as control variable. Our study period spans from 2000 to 2018 on an annual frequency for E7 economies (Brazil, Indonesia, Mexico, India, Turkey, Russia, and China). Research Design: This study leverages on cross-sectional ARDL, Augmented Mean Group (AMG), and Common Correlated Effects Mean Group Estimates (CCEMG) estimation techniques to examine long-run relationship between the outlined variables. Subjects: Empirical findings show that institution quality, bank finance, income, high-technology exports, and foreign direct investments exert a positive effect on advancements in technology. Furthermore, the interaction between bank finance and institution quality on technological advancement is also positive and statistically significant. Based on the findings, it is concluded that large-scale funding is crucial for businesses to leverage revolutionary technology. Likewise, access to large capital sources if made easier encourages technology affordance as well as innovation and operational excellence. Thus, economies with established legal and financial systems stand to offer businesses such security, which encourages business innovation. Conclusions: Consequently, E7 economies ought to improve their financial and legal systems to boost financial security, creativity, and competitiveness of businesses.