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All Journal International Journal of Renewable Energy Development
Akinsola, Gbenga Daniel
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Chemistry Energy

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Investigating the Causal Linkage Among Economic Growth, Energy Consumption and CO2 Emissions in Thailand: An Application of the Wavelet Coherence Approach Adebayo, Tomiwa Sunday; Akinsola, Gbenga Daniel
International Journal of Renewable Energy Development Vol 10, No 1 (2021): February 2021
Publisher : Center of Biomass & Renewable Energy, Diponegoro University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/ijred.2021.32233

Abstract

The study aims to explore the causal linkage between CO2 emissions, economic growth and energy consumption in Thailand utilizing the wavelet coherence approach, conventional Granger and the Toda-Yamamoto causality techniques. In this study, In this study, time-series data spanning the period between 1971 and 2018 were used. No prior study has used the wavelet coherence approach to collect information on the association and causal interrelationship among these economic variables at different frequencies and timeframes in Thailand. The study objectives are structured to answer the following question: Does economic growth and energy consumption lead to CO2 emissions in Thailand?. The findings revealed that: (a) Changes in economic growth led to changes in CO2 emissions in Thailand at different frequencies (different scales) between 1971 and 2018. (b) A bidirectional causal relationship between CO2 emissions and energy consumption. (c) A positive correlation between CO2 emissions and energy usage in the short and long-run between 1971 and 2018. (d) A positive correlation between GDP growth and CO2 emissions in the short and long-run between 1971 and 2018. The study suggested that Thailand should initiate stronger policies towards enhancing the efficiency of energy and energy-usage programs to minimize unnecessary energy waste.
Coal Consumption and Environmental Sustainability in South Africa: The role of Financial Development and Globalization Adebayo, Tomiwa Sunday; Kirikkaleli, Dervis; Adeshola, Ibrahim; Oluwajana, Dokun; Akinsola, Gbenga Daniel; Osemeahon, Oseyenbhin Sunday
International Journal of Renewable Energy Development Vol 10, No 3 (2021): August 2021
Publisher : Center of Biomass & Renewable Energy, Diponegoro University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/ijred.2021.34982

Abstract

This paper aims to investigate coal consumption and environmental sustainability in South Africa by examining the role of financial development and globalization by using a dataset covering the period from 1980 to 2017. The study utilized the Auto-regressive Distributed Lag Model (ARDL) approach in addition to the Bayer and Hank combined co-integration, fully modified Ordinary least squares (FMOLS), and Dynamic ordinary least Squares (DOLS). The study further utilized the frequency domain causality test to capture the causal linkage between the series. The advantage of the frequency domain causality is that it can capture causal linkages between series at different periods. The Bayer and Hanck co-integration and ARDL bounds tests reveal co-integration among the series. The empirical findings based on the ARDL long-run estimation reveal that a 1% increase in coal consumption increases environmental degradation by 1.077%, while a 1% increase in financial development decreases the environmental degradation by 0.973%. Furthermore, a 1% increase in economic growth decreases environmental quality by 1.449%. The outcomes of the FMOLS and DOLS approaches also provide supportive evidence for the ARDL long-run results. Furthermore, the results of the frequency domain causality test reveal that at a significance level of 1%, coal consumption Granger causes CO2 emissions at different frequencies, while financial development Granger causes CO2 emissions in the long run and short run at a significance level of 10%. In terms of policy suggestions, South Africa should embrace policies that encourage energy consumers to shift toward renewable energy. Furthermore, financial reforms should be implemented to curb environmental degradation
Co-Authors Adebayo, Tomiwa Sunday Adeshola, Ibrahim Kirikkaleli, Dervis Oluwajana, Dokun Osemeahon, Oseyenbhin Sunday