Muoneke Obumneke Bob, Okere Kingsley Ikechukwu, Egbo Obiamaka Priscilla
FITC Nigeria, Murtala Muhammed Way, Ebute-Metta, Lagos, Nigeria.
Department of Finance, University of Lagos, Akoka-Yaba, Lagos State, Nigeria.
Heliyon. 2023 Mar 1;9(3):e14155. doi: 10.1016/j.heliyon.2023.e14155. eCollection 2023 Mar.
In order to shed empirical light on the impact of the multi-dimensional decomposition of financial development indicators on renewable energy usage, this study investigates the threshold effect of political conflict on finance-energy dynamics in Africa. The research output relies on a panel of 46 African nations from 2010 to 2020, using IV-GMM estimators that are robust to cross-sectional dependence and allow for heterogeneous slope coefficients. The results of direct, indirect, and threshold equations show that i.) Financial development indicators spur renewable energy consumption, while political conflict drags it. ii.) There is a threshold at which financial development could spur renewable energy in some regions of Africa, and the tendency of financial development to maintain such capacity is conditioned on the accessibility of financial facilities and political conflict/stability within a specific range of threshold values. iii.) the threshold level assessment shows that 11 countries in the panel, including Botswana, Mauritius, Cape Verde, Namibia, Seychelles, Zambia, Sao Tome and Principe, Gabon, Ghana and Benin Rep., are above the threshold level of political conflict in Africa. From a policy angle, driving up renewable energy consumption in Africa requires the government to provide enabling safety net environment for the diversification of finance options targeting innovative shifts away from traditional energy sources to the expansion of alternative renewable energy ventures.
为了实证研究金融发展指标的多维分解对可再生能源使用的影响，本研究考察了政治冲突对非洲金融与能源动态关系的门槛效应。研究结果基于2010年至2020年46个非洲国家的面板数据，使用了对横截面依赖性具有稳健性且允许斜率系数存在异质性的IV-GMM估计量。直接、间接和门槛方程的结果表明：i.）金融发展指标促进可再生能源消费，而政治冲突则起到抑制作用。ii.）在非洲的一些地区，金融发展存在一个能够促进可再生能源发展的门槛，且金融发展维持这种能力的趋势取决于金融设施的可及性以及在特定门槛值范围内的政治冲突/稳定性。iii.）门槛水平评估显示，样本中的11个国家，包括博茨瓦纳、毛里求斯、佛得角、纳米比亚、塞舌尔、赞比亚、圣多美和普林西比、加蓬、加纳和贝宁共和国，高于非洲政治冲突的门槛水平。从政策角度来看，提高非洲的可再生能源消费量要求政府为金融选择的多样化提供有利的安全网环境，这些金融选择旨在推动从传统能源向替代可再生能源企业扩张的创新转变。
