Yazar "Iorember, Paul Terhemba" seçeneğine göre listele

Listeleniyor 1 - 5 / 5
  • Küçük Resim
    Öğe
    Dampening energy security-related uncertainties in the United States: The role of green energy-technology investment and operation of transnational corporations
    (Elsevier, 2024) Usman, Ojonugwa; Iorember, Paul Terhemba; Ozkan, Oktay; Alola, Andrew Adewale
    Several studies provide that the green energy transition is critical to attaining environmental sustainability. However, the extent to which investment in green energy technologies influence energy-related uncertainties is not well known. This study set out to investigate the effect of green energy-technology investment and operation of Transnational Corporations (TNCs) on the United States energy security uncertainties over the period 1974–2020. Applying econometric techniques using the Kernel-based regularized least squares (KRLS) and nonparametric multivariate quantile-on-quantile regression (MQQR), we show that green energy-technology investment dampens uncertainties related to energy security. The results also demonstrate that while eco nomic expansion is negatively associated with the United States’ energy security uncertainties, the operational behaviours of TNCs via direct investment by foreigners and trade openness amplify energy security uncertainty matrices. Furthermore, the effects of green energy-technology investment, operational behaviours of TNCs, economic expansion, and trade openness exhibit an inherent heterogeneity, leading to the asymmetric pattern in the distribution of the United States energy security-related uncertainties. Notably, these results are confirmed by the disaggregated models for energy security uncertainties with the exception of the environmental-related risks sub-index which dampens as a result of the operation of TNCs. Given these findings, the study suggests, among others, the need for government and policymakers to increase investment in renewable energy R&D technology to dampen energy security-related uncertainties and achieve a sustainable environment.
  • Küçük Resim Yok
    Öğe
    Effect of domestic material production on environmental sustainability in EU countries under changing financial development: a dynamic panel threshold regression approach
    (Springer, 2024) Usman, Ojonugwa; Iorember, Paul Terhemba; Alola, Andrew Adewale; Bekun, Festus Victor
    Although the European Union (EU) has made significant progress towards achieving the Sustainable Development Goals (SDGs), the goal of sustainable consumption and production (SDG 12) is reported to be far from being achieved in the region. This study examines the effect of domestic material production on environmental sustainability (measured by greenhouse gas emissions) at different levels of financial development in 19 EU countries over the period 2000-2017. Using a dynamic panel threshold regression approach, the results provide evidence that domestic material production increases greenhouse gas emissions only when financial development is below a threshold of 0.8743%. The effect of domestic material production on greenhouse gas emissions is negative and insignificant when financial development exceeds the estimated threshold. The results further show that domestic material consumption, financial development and investment in research and development all hinder environmental sustainability by intensifying greenhouse gas emissions. Moreover, the results indicate that income per capita and renewable energy improve environmental sustainability by dampening greenhouse gas emissions. The robustness of these results is tested using fixed-effects ordinary least squares and random-effects generalised least squares with Driscoll-Kraay standard errors. Therefore, this study offers policy implications for achieving a sustainable environment.
  • Küçük Resim
    Öğe
    Effect of exchange rate uncertainty, energy prices and sectoral spending on agriculture value added, household consumption, and domestic investment
    (Elsevier, 2024) Iorember, Paul Terhemba; Yusoff, Nora Yusma Mohamed; Abachi, Philip Terhemen; Usman, Ojonugwa; Alola, Andrew Adewale
    The agricultural value chain is underpinned by the interdependence of agricultural value added, household consumption and domestic investment. Understanding the complex interactions between these microeconomic outcomes and the uncertainties in the macroeconomic variables of exchange rates, energy prices and sectoral spending remains under-researched. Therefore, this study examines the impact of exchange rate, energy prices and sectoral spending on agricultural value added, household consumption and domestic investment in Nigeria from 1981 to 2020. Using Kernel regularized least squares (KRLS), the results show that the average pointwise marginal effects of exchange rate and agricultural spending are positive, while the average pointwise marginal effect of energy price is significantly negative for the agricultural value-added model. The results also show that the exchange rate, energy prices and agricultural expenditure all have a positive effect on household consumption. Regarding domestic investment, the effect of the exchange rate is positive and statistically insignificant, while the effects of energy prices and agricultural expenditure are negative and statistically significant. The study recommends the need to strengthen the social safety nets currently in place in Nigeria to support households that are vulnerable to exchange rate fluctuations. In addition, incentives should be given to households and farmers to help use renewable energy sources such as solar or wind power for agricultural activities. Also, investment in value chains and agribusiness initiatives should be encouraged rather than just in crop production.
  • Küçük Resim
    Öğe
    Examining the interaction effect of control of corruption and income level on environmental quality in Africa
    (MDPI, 2022) Usman, Ojonugwa; Iorember, Paul Terhemba; Öztürk, İlhan; Bekun, Festus Victor
    The effects of corruption and income on environmental degradation is well established in the literature. However, little attention has been given to how the control of corruption affects the environmental quality at different levels of income. This study examines the interaction effect of the control of corruption and income on environmental quality in Africa over the period from 1996 to 2017. Using a Method of Moments Quantile Regression (MMQR) with fixed effects, the results revealed that both the control of corruption and income level increase CO2 emissions while their interaction term reduces CO2 emissions. This implies that the interaction effect of the control of corruption and income level mitigates carbon emissions. Particularly, the marginal effect of the control of corruption on CO2 emissions decreases as income level increases. Furthermore, renewable energy consumption has a negative and significant effect on CO2 emissions. The effect of foreign direct investment on CO2 emissions is positive and significant, which validates the pollution haven hypothesis. These results are heterogeneous across the quantile distribution of CO2 emissions. Based on these findings, our study suggests the need for the government and policymakers to stimulate income levels as a prerequisite for achieving sound and effective environmental policies in Africa.
  • Küçük Resim
    Öğe
    Impact of international trade, energy consumption and income on environmental degradation in Africa's OPEC member countries
    (John Wiley and Sons Inc, 2022) Iorember, Paul Terhemba; Gbaka, Solomon; Jelilov, Gylych; Alymkulova, Nargiza; Usman, Ojonugwa
    The huge endowment, exploitation and trading of carbon content energy resources by the African OPEC member countries for economic expansion substantiate the fears of increasing global warming and environmental degradation. This study explores the dynamic effects of trade flows, energy consumption and per capita income on environmental degradation in seven of Africa's OPEC member countries (Algeria, Angola, Congo, Equatorial Guinea, Gabon, Libya and Nigeria), within the framework of the environmental Kuznets curve (EKC) and the pollution haven hypothesis (PHH). By employing the bootstrap panel cointegration test and the PMG/ARDL estimation technique on panel data spanning from 1990 to 2017, the empirical results show a positive but insignificant effect of trade flows on environmental degradation. The results further show that while renewable energy dampens environmental degradation, non-renewable energy exerts upward pressure on environmental degradation. In addition, the results provide evidence in support of a U-shaped EKC in the long run. The study, therefore, recommends the expansion of renewable energy consumption to ensure not only environmental sustainability but also to attain the regional goal of sustainable development.