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Funding the Green Transition: Governance Quality, Public Debt, and Renewable Energy Consumption in Sub-Saharan Africa

Author

Listed:
  • Favour C. Onuoha

    (Evangel University Akaeze, Nigeria)

  • Stephen K. Dimnwobi

    (Nnamdi Azikiwe University, Awka, Nigeria)

  • Kingsley I. Okere

    (Gregory University, Uturu, Nigeria)

  • Chukwunonso Ekesiobi

    (Igbariam, Nigeria)

Abstract

Prompted by the renewable energy funding challenge in sub-Saharan Africa (SSA) amid surging public debt in the region, this study investigates the moderating role of governance quality in the relationship between public debt and REC in the region using the Feasible Generalized Least Squares. The study established that public debt positively impacts REC, but the interactive effect of governance quality and public debt impedes REC. Policy prescriptions are put forward to address the funding challenges of transitioning to a green energy future in SSA by highlighting the critical role of governance.

Suggested Citation

  • Favour C. Onuoha & Stephen K. Dimnwobi & Kingsley I. Okere & Chukwunonso Ekesiobi, 2023. "Funding the Green Transition: Governance Quality, Public Debt, and Renewable Energy Consumption in Sub-Saharan Africa," Working Papers 23/028, European Xtramile Centre of African Studies (EXCAS).
    • Handle: RePEc:exs:wpaper:23/028
    as

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    File URL: http://publications.excas.org/RePEc/exs/exs-wpaper/Funding-the-Green-Transition-Governance-Quality-Public-Debt-and-Renewable-Energy.pdf
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    References listed on IDEAS

    as
    1. M. Hashem Pesaran, 2021. "General diagnostic tests for cross-sectional dependence in panels," Empirical Economics, Springer, vol. 60(1), pages 13-50, January.
    2. M. Hashem Pesaran, 2015. "Testing Weak Cross-Sectional Dependence in Large Panels," Econometric Reviews, Taylor & Francis Journals, vol. 34(6-10), pages 1089-1117, December.
    3. Zhao, Pan & Lu, Zhou & Fang, Jianchun & Paramati, Sudharshan Reddy & Jiang, Kai, 2020. "Determinants of renewable and non-renewable energy demand in China," Structural Change and Economic Dynamics, Elsevier, vol. 54(C), pages 202-209.
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    Cited by:

    1. Okere, Kingsley Ikechukwu & Dimnwobi, Stephen Kelechi & Ekesiobi, Chukwunonso & Onuoha, Favour Chidinma, 2023. "Turning the tide on energy poverty in sub-Saharan Africa: Does public debt matter?," Energy, Elsevier, vol. 282(C).

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    More about this item

    Keywords

    Public Debt; Renewable Energy Consumption; Governance Quality; Sub-Saharan Africa;
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