2022_The Investigation of Energy Consumption Economic Growth and Foreign Direct Investment in Selected West African Commonwealth Countries (WACCs)
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| country | Malaysia |
| date | 2022-03-30 |
| format | General Document |
| id | 15873 |
| institution | UniSZA |
| internalnotes | Sila masukkan subject wajib Dissertations, Academic. Terima kasih... |
| originalfilename | 15873_efc565eb4d2e963.pdf |
| person | Muhammad Aminu Haruna |
| recordtype | oai_dc |
| resourceurl | https://intelek.unisza.edu.my/intelek/pages/view.php?ref=15873 |
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| spelling | 15873 https://intelek.unisza.edu.my/intelek/pages/view.php?ref=15873 https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection3 General Document Malaysia Library Staff (Top Management) Library Staff (Management) Library Staff (Support) Terengganu Faculty of Business and Management English application/pdf 1.5 Server storage Scanned document Universiti Sultan Zainal Abidin UniSZA Private Access Universiti Sultan Zainal Abidin SAMBox 2.3.4; modified using iTextSharp™ 5.5.10 ©2000-2016 iText Group NV (AGPL-version) Copyright©PWB2025 Foreign Direct Investment Investments, Foreign 2022-03-30 15873_efc565eb4d2e963.pdf 243 Muhammad Aminu Haruna Investigation Of Energy Consumption Economic Growth West African Commonwealth Countries (WACCs) Energy consumption—Economic aspects—Africa, West Economic development—Africa, West Commonwealth countries 2022_The Investigation of Energy Consumption Economic Growth and Foreign Direct Investment in Selected West African Commonwealth Countries (WACCs) Energy consumption is important for the nation’s investment inflows and economic growth, and it is inevitably linked to people’s lives. Energy consumption is significant for achieving economic globalisation, economic growth, and development of all countries. The West African Commonwealth Countries (WACCs) have the potential to develop their energy sources. However, because Africa remains an impoverished energy continent, economic growth in the regional economies has been impaired. The scarcity of energy distracts foreign direct investment (FDI) inflows over time. In the WACCs, which are characterised as having low income and energy supply, households are compelled to spend a substantial proportion of their disposable income on energy consumption. The literature indicates conflicting findings on whether energy consumption causes economic growth and FDI inflows or otherwise. The study empirically investigates these compounding problems. The objectives of the study are fourfold; first, to examine the effect of energy consumption on economic growth in the WACCs; second, to assess how energy consumption influences FDI inflows in the WACCs; third, to observe the direction of causality among energy, economic growth, and FDI, and fourth, to investigate the impact of household consumption expenditure on energy consumption in the WACC. For the time-series analysis, the study employed the Nonlinear Autoregressive Distributive Lag (NARDL) approach and Granger causality test. The panel data analysis used the Pooled Mean Group (PMG), Toda Yamamoto Causality (TYC) test, and Vector Error Correction Model (VECM). The data was sourced from the World Development Indicator (WDI) 2019. The time-series results showed that the variables are integrated at level I(0), had first difference I(1), and are cointegrated. In Nigeria, the positive shock of energy consumption stimulates economic growth, while the negative shock affects economic growth unfavourably, and supports the economic growth hypothesis. In Ghana, both positive and negative shocks accelerate economic growth, thereby supporting the conservation hypothesis. The Gambia positive shock contributes to economic growth, while a negative shock reduces economic growth, and backs the feedback hypothesis. The panel results demonstrated evidence of cointegration among the variables. The long-run coefficients suggest that energy consumption does not influence FDI inflows in the WACCs. In the short run, energy attracts FDI inflows, and report the high speed of adjustment. The TYC test revealed bidirectional causality between energy and economic growth, FDI and GDP, and FDI and energy. Unidirectional causality was found between GDP and energy. Bidirectional causality was found between FDI and energy, and FDI and GDP. Household income-expenditure increases energy use significantly, and energy price reduces energy use. The findings imply that the speed of economic growth, FDI inflows, and household energy use have been impaired by energy poverty. The findings contribute to energy literature, economic growth theory, causality and FDI theory, among others. Measures by the government should be tailored towards improving and diversifying energy sources, policy actions that encourage FDI inflows, and implementing subsidy policies on energy. Dissertations, Academic Sila masukkan subject wajib Dissertations, Academic. Terima kasih... Thesis |
| spellingShingle | 2022_The Investigation of Energy Consumption Economic Growth and Foreign Direct Investment in Selected West African Commonwealth Countries (WACCs) |
| state | Terengganu |
| subject | Investments, Foreign Energy consumption—Economic aspects—Africa, West Economic development—Africa, West Commonwealth countries Dissertations, Academic |
| summary | Energy consumption is important for the nation’s investment inflows and economic growth, and it is inevitably linked to people’s lives. Energy consumption is significant for achieving economic globalisation, economic growth, and development of all countries. The West African Commonwealth Countries (WACCs) have the potential to develop their energy sources. However, because Africa remains an impoverished energy continent, economic growth in the regional economies has been impaired. The scarcity of energy distracts foreign direct investment (FDI) inflows over time. In the WACCs, which are characterised as having low income and energy supply, households are compelled to spend a substantial proportion of their disposable income on energy consumption. The literature indicates conflicting findings on whether energy consumption causes economic growth and FDI inflows or otherwise. The study empirically investigates these compounding problems. The objectives of the study are fourfold; first, to examine the effect of energy consumption on economic growth in the WACCs; second, to assess how energy consumption influences FDI inflows in the WACCs; third, to observe the direction of causality among energy, economic growth, and FDI, and fourth, to investigate the impact of household consumption expenditure on energy consumption in the WACC. For the time-series analysis, the study employed the Nonlinear Autoregressive Distributive Lag (NARDL) approach and Granger causality test. The panel data analysis used the Pooled Mean Group (PMG), Toda Yamamoto Causality (TYC) test, and Vector Error Correction Model (VECM). The data was sourced from the World Development Indicator (WDI) 2019. The time-series results showed that the variables are integrated at level I(0), had first difference I(1), and are cointegrated. In Nigeria, the positive shock of energy consumption stimulates economic growth, while the negative shock affects economic growth unfavourably, and supports the economic growth hypothesis. In Ghana, both positive and negative shocks accelerate economic growth, thereby supporting the conservation hypothesis. The Gambia positive shock contributes to economic growth, while a negative shock reduces economic growth, and backs the feedback hypothesis. The panel results demonstrated evidence of cointegration among the variables. The long-run coefficients suggest that energy consumption does not influence FDI inflows in the WACCs. In the short run, energy attracts FDI inflows, and report the high speed of adjustment. The TYC test revealed bidirectional causality between energy and economic growth, FDI and GDP, and FDI and energy. Unidirectional causality was found between GDP and energy. Bidirectional causality was found between FDI and energy, and FDI and GDP. Household income-expenditure increases energy use significantly, and energy price reduces energy use. The findings imply that the speed of economic growth, FDI inflows, and household energy use have been impaired by energy poverty. The findings contribute to energy literature, economic growth theory, causality and FDI theory, among others. Measures by the government should be tailored towards improving and diversifying energy sources, policy actions that encourage FDI inflows, and implementing subsidy policies on energy. |
| title | 2022_The Investigation of Energy Consumption Economic Growth and Foreign Direct Investment in Selected West African Commonwealth Countries (WACCs) |
| title_full | 2022_The Investigation of Energy Consumption Economic Growth and Foreign Direct Investment in Selected West African Commonwealth Countries (WACCs) |
| title_fullStr | 2022_The Investigation of Energy Consumption Economic Growth and Foreign Direct Investment in Selected West African Commonwealth Countries (WACCs) |
| title_full_unstemmed | 2022_The Investigation of Energy Consumption Economic Growth and Foreign Direct Investment in Selected West African Commonwealth Countries (WACCs) |
| title_short | 2022_The Investigation of Energy Consumption Economic Growth and Foreign Direct Investment in Selected West African Commonwealth Countries (WACCs) |
| title_sort | 2022_the investigation of energy consumption economic growth and foreign direct investment in selected west african commonwealth countries (waccs) |