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Operational behaviours of multinational corporations, renewable energy transition, and environmental sustainability in Africa: Does the level of natural resource rents matter?

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  • Balcilar, Mehmet
  • Usman, Ojonugwa
  • Ike, George N.

Abstract

The pollution haven hypothesis postulates a transfer of unsustainable production practices by multinational corporations (MNCs) to their operational bases in developing economies with lax environmental regulations. However, little is known about the role of natural resource rents in this relationship. To this end, the study empirically investigates the interaction effects of the operational behaviours of multinational corporations (MNCs) through foreign direct investment (FDI) and natural resource rents on environmental sustainability in 34 African countries over the period 1990 to 2017. Identifying two main pathways through which this can occur, we specify two models with CO2 emissions and renewable energy as separate response variables. Employing both the System Generalized Method of Moments (SYS-GMM) and Method of Moments Quantile regression (MM-QR) estimation techniques, the empirical results suggest that natural resource rents play a vital moderating role in determining how the operational behaviours of MNCs affect environmental sustainability. The interaction term of foreign investment and natural resource rents correlates negatively and positively with environmental pollution and renewable energy transition respectively. This suggests that at a certain level of natural resource rents, the strength of the operational behaviours of MNCs to increase environmental degradation is reduced. Furthermore, in countries with lower levels of natural resource rents, an increase in foreign investment deteriorates the environment, while in countries with lower levels of foreign investment, an increase in resource rents degrades the environment. The dynamics follow the reverse direction when renewable energy is the response variable. These findings, therefore, have policy implications for achieving Africa's goal of carbon neutrality.

Suggested Citation

  • Balcilar, Mehmet & Usman, Ojonugwa & Ike, George N., 2023. "Operational behaviours of multinational corporations, renewable energy transition, and environmental sustainability in Africa: Does the level of natural resource rents matter?," Resources Policy, Elsevier, vol. 81(C).
  • Handle: RePEc:eee:jrpoli:v:81:y:2023:i:c:s0301420723000521
    DOI: 10.1016/j.resourpol.2023.103344
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    2. Ozkan, Oktay & Haruna, Roselyn Afor & ALOLA, Andrew Adewale & Ghardallou, Wafa & Usman, Ojonugwa, 2023. "Investigating the nexus between economic complexity and energy-related environmental risks in the USA: Empirical evidence from a novel multivariate quantile-on-quantile regression," Structural Change and Economic Dynamics, Elsevier, vol. 65(C), pages 382-392.
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    4. Obadiah Jonathan Gimba & Abdulkareem Alhassan & Huseyin Ozdeser & Wafa Ghardallou & Mehdi Seraj & Ojonugwa Usman, 2023. "Towards low carbon and sustainable environment: does income inequality mitigate ecological footprints in Sub-Saharan Africa?," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(9), pages 10425-10445, September.

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    More about this item

    Keywords

    Foreign investment; Renewable energy transition; Natural resources rents; Method of moments-quantile regression; African countries;
    All these keywords.

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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