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ENERGY CONSUMPTION, ECONOMIC GROWTH AND CARBON-DIOXIDE EMISSION IN WEST AFRICA : A Case Study of Nigeria, Ghana, Togo and Benin
Molnar, Dejan
Okenwa, Elvis
Abstract: Energy plays a vital role in economic development of both developing and developed countries. It serves as a key component for sustainable development. Hence, many studies have attempted to look for the direction of causality between energy consumption (EC), economic growth (GDP) and carbon dioxide emissions (C02). This paper, therefore, applies the panel unit root tests, panel co-integration methods and panel causality test to investigate the relationship between these three variables for four West African countries (Nigeria, Ghana, Togo and, Benin) covering the annual period 1970-2012. These West African countries where specifically chosen for our analysis because of their different levels of transition and growth, and also their common interest to boost energy efficiency and diversification through the West Africa Gas Pipeline Project (WAGP).The finding of this study reveals that there is no long-run co-integration relationship amongst our variables neither is there short-run causality running between them. However, in the short-run it is observed that there is a bidirectional Granger causality running from CO2 emissions to EC.
engleski
2018
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Keywords: West Africa; Energy consumption; Economic growth; CO2 emissions; Panel co-integration; Panel causality; West Africa Gas Pipeline Project (WAGP)