Asymmetric effects of economic growth, fossil fuel consumption, and financial development on carbon emissions in Ghana
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Dosyalar
Tarih
2024
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Shaheed Benazir Bhutto Women University
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
This research analyzes the impact of economic expansion, non-renewable energy consumption (NonREC), financial sector improvement, and carbon releases in Ghana. The study used yearly data from 1971 to 2014 and applied the Nonlinear Autoregressive Distributed Lag (NARDL) method to examine the data. The NARDL approach facilitated the differentiation of variables into favorable and unfavorable adjustments by examining the short-and long-run effects. The results indicated that all the independent variables exhibited short-term asymmetries, while economic growth presented long-term asymmetry. Negative adjustments in economic expansion led to a decline in carbon releases in the long run but an increase in the short run. favorable and unfavorable adjustments in NonREC positively and negatively impact carbon releases in both the short and long term. Additionally, negative adjustments in financial development positively affected carbon releases in the long run. The cumulative dynamic multipliers graphs and impulse response function graphs illustrate the same impact pattern of the independent variables on carbon releases, confirming the findings' robustness. The study suggests implementing environmental policies in Ghana that promote renewable sources of energy and energy-conserving innovations to reduce environmental degradation. The findings recommend that the decision-maker prioritize effective environmental strategies like a green economy, renewable energy use, and energy-saving technologies. By adopting clean energy and implementing advanced technologies, sustainable economic growth can be achieved while preserving the environment and the ecosystem.
Açıklama
Anahtar Kelimeler
Carbon Emissions, Financial Development, Fossil Fuel Consumption, Ghana, NARDL
Kaynak
FWU Journal of Social Sciences
WoS Q DeÄŸeri
Q3
Scopus Q DeÄŸeri
Q2
Cilt
18
Sayı
2
Künye
Abdul Rahman, M., Iftikhar, S. ve Khan, A. I. (2024). Asymmetric effects of economic growth, fossil fuel consumption, and financial development on carbon emissions in Ghana. FWU Journal of Social Sciences, 18(2), 63-77. https://www.doi.org/10.51709/19951272/Summer2024/7
