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Analyzing the Dynamics: Asymmetric Effects of Economic Growth, Technological Innovation, and Renewable Energy on Carbon Emissions in Africa

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  • Derese Kebede Teklie

    (Graduate School, Istanbul Technical University, Istanbul, Turkey)

  • Burak DoÄŸan

    (Bahcesehir University, Istanbul, Turkey)

Abstract

This study examines the interactions among economic growth, technological innovation, renewable energy consumption, and carbon emissions in Africa using advanced econometric methods. Panel data analysis reveals both symmetric and asymmetric impacts on carbon emissions, showing how economic and technological variables contribute to environmental outcomes. The augmented mean group (AMG) and common correlated effects mean group (CCEMG) estimators address cross-sectional dependence and heterogeneity, ensuring robust results. Findings indicate that positive economic growth increases emissions, while economic downturns significantly reduce emissions. The study underscores the need for strategic policies that leverage technological innovations and renewable energy to promote sustainable development in African economies, balancing economic growth with environmental protection.

Suggested Citation

  • Derese Kebede Teklie & Burak DoÄŸan, 2024. "Analyzing the Dynamics: Asymmetric Effects of Economic Growth, Technological Innovation, and Renewable Energy on Carbon Emissions in Africa," International Journal of Energy Economics and Policy, Econjournals, vol. 14(5), pages 509-519, September.
    • Handle: RePEc:eco:journ2:2024-05-52
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    Keywords

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    JEL classification:

    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models

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