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Modelling the nexus between finance, government revenue, institutional quality and sustainable energy supply in West Africa

Author

Listed:
  • Kayode David Kolawole

    (University of Ilorin)

  • Biliqees Ayoola Abdulmumin

    (University of Ilorin)

  • Gizem Uzuner

    (New Uzbekistan University
    Istanbul Gelisim University)

  • Oluwagbenga Abayomi Seyingbo

    (University of Winchester)

  • Lukman Adebayo-Oke Abdulrauf

    (Kwara State University)

Abstract

The present study examined the relationship between finance, government revenue, institutional quality and sustainable energy supply in West Africa countries over annual frequency period from 2012 to 2020. To achieve the outlined nexus between study variables, the present study leverages on a battery of panel analysis for robust inferences. The econometric estimators employed are panel random effect regression, generalized method of moment technique. Furthermore, panel Granger causality test is utilized to analyze the direction of flow among the variables for the study. Empirical results revealed that financial development is a significant determinant of energy supply in West Africa countries while a negligible effect was reported for institutional quality and sustainable energy supply. Thus, the present study concludes that finance from financial sector is important in ensuring sufficient energy supply. To this end, this study therefore, recommends that incentives should be given to financial institutions that fund energy generation and transmission as financial development is seen to be significant on energy supply.

Suggested Citation

  • Kayode David Kolawole & Biliqees Ayoola Abdulmumin & Gizem Uzuner & Oluwagbenga Abayomi Seyingbo & Lukman Adebayo-Oke Abdulrauf, 2024. "Modelling the nexus between finance, government revenue, institutional quality and sustainable energy supply in West Africa," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 13(1), pages 1-13, December.
    • Handle: RePEc:spr:jecstr:v:13:y:2024:i:1:d:10.1186_s40008-023-00325-8
    DOI: 10.1186/s40008-023-00325-8
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