Keyword: GDP

3 results found.

Research Article
Fossil Fuel Consumption, CO2 Emissions and Growth in High-Income Countries and Low-Income Countries
European Journal of Sustainable Development Research, 2022, 6(3), em0190,
ABSTRACT: This paper investigates the pairwise causality and co-integration that links fossil fuel consumption (FFC), carbon dioxide (CO2) emissions, and real gross domestic product (RGDP) between low-income countries (LIC) and high-income countries (HIC). This comparative analysis is anchored on Lv et al. (2019). Lv et al. (2019) enable the analytical framework model utilized to investigate the causality between FFC and CO2, CO2 and RGDP, and FFC and RGDP in HIC and LIC. Data were obtained from world development indicator between 1960 and 2019. The results obtained are, as follows: There exists a unidirectional causality, thus the RGDP granger causes CO2 in HIC, and no causality between RGDP and CO2 in LIC. Also, the study found no causality between FFC and RGDP, and FFC and CO2 in HIC and LIC. The mixed inter-regional causality result showed that there exists bi-directional causality between RGDP and CO2 for HIC and LIC. This implies that RGDP in LIC granger causes CO2 in HIC, and CO2 in HIC granger causes RGDP in LIC. Hence, the presence of a regional super-wicked problem. Also, CO2 in HIC granger causes FFC in LIC. The result suggests that countries should seamlessly adopt proportionate mitigation and adaptation policies to reduce the pollution transmission between economies. The non-existence of pairwise co-integration between FFC, CO2, and RGDP in HIC and LIC connotes that the CO2 reduction policy should be a short-term public policy strategy with conscious and deliberate targeting to avoid long-run growth reversal. Therefore, this paper concludes that reducing FFC may not necessarily lead to a decline in growth vice versa. Thus, to achieve a low carbon economy and a high growth regime, the global community should adopt a techno-economic paradigm model that would accelerate growth within a low-carbon economy regime to realize the 45% carbon reduction target by 2030 and the 2050 net-zero emission target.
Research Article
Estimating the Regional Development in Gems Mining Areas in Brazil
European Journal of Sustainable Development Research, 2021, 5(4), em0172,
ABSTRACT: The activity of extracting gems can be improved if public policies are adopted to expand the production chain in Brazil. In theory, the mining activity could be enhanced by increasing the financial collection of the taxes through mineral extraction aligned with the characteristics of the local economy. The present study uses a decision tree model for classifying the regional development of Brazilian states with gemstone mining activities, based on the regional data on financial compensation for mineral extraction (CFEM), gross domestic product (GDP), Human development index (HDI), environmental impact, and geo-tourism applying decision tree models. CFEM, HDP, HDI, and geo-tourism were continuous variables, and the environmental impact was discretized as ‘low,’ ‘medium,’ and ‘high.’ The results indicate that regional development is not only directly related to revenue from the financial compensation for mineral extraction. The GDP and environmental impact also influence regional development. The variables geo-tourism and HDI did not appear to exert influence on regional development. We infer that the increase in taxes would not directly benefit the local government or community from the results. Further initiatives and appropriate public policies would be necessary for planning the adequate distribution of the received resources from gem mining to improve regional growth and development.
Research Article
Diversification and Economic Growth in Nigeria (1981–2016): An Econometric Approach Based on Ordinary Least Squares (OLS)
European Journal of Sustainable Development Research, 2020, 4(4), em0131,
ABSTRACT: Economic diversification has been the glamour of successive administrations in Nigeria, especially amidst the dwindling oil-revenue in recent years, which has resulted from the fluctuations in world crude oil prices. This study aims at investigating the impact of diversifying the economy on the economic growth in Nigeria. Secondary data on GDP growth rate as a proxy for economic growth, non-oil GDP as a proxy for GDP diversification, non-oil export as a proxy for export diversification, investment and exchange rate, between 1981 and 2016, were adopted in the study. An econometric approach of Ordinary Least Squares (OLS) was adopted to empirically analyze the collected data and the result revealed that non-oil gross domestic product impacted positively and significantly on economic growth while exchange rate had an inverse but significant nexus on economic growth in Nigeria, within the period covered in the study. However, non-oil export and investment impacted positively but insignificantly on economic growth in Nigeria. The study recommends the encouragement of increased productivity in the real sector as well as the adoption of stable and favourable exchange rate policies by the government in order to accelerate economic growth in Nigeria.