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Author: Perekunah Eregha
Publisher: Litres
ISBN: 5040709048
Category : Business & Economics
Languages : en
Pages : 16
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Book Description
This study focuses on the relationship between energy consumption, oil price and macroeconomic performance of selected energy-dependent African countries. It was observed that energy consumption and crude oil price positively and significantly enhanced output growth but their impact on exchange rate is contradictory. Also, energy consumption and oil price were found to reduce inflation rate in the selected countries. It is therefore recommended that energy-dependent African countries should increase power generation and enhance crude oil local refining at affordable rates to boost energy consumption and reduce negative exogenous oil price shock on the macroeconomy.
Author: Perekunah Eregha
Publisher: Litres
ISBN: 5040709048
Category : Business & Economics
Languages : en
Pages : 16
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Book Description
This study focuses on the relationship between energy consumption, oil price and macroeconomic performance of selected energy-dependent African countries. It was observed that energy consumption and crude oil price positively and significantly enhanced output growth but their impact on exchange rate is contradictory. Also, energy consumption and oil price were found to reduce inflation rate in the selected countries. It is therefore recommended that energy-dependent African countries should increase power generation and enhance crude oil local refining at affordable rates to boost energy consumption and reduce negative exogenous oil price shock on the macroeconomy.
Author: Olufemi Muibi Saibu
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
The global energy crisis and the renewed interest in international policies needed to find a suitable energy supply and consumption pattern has raised the tempo of research interest in the linkages between the energy sector and economic performance across countries. The empirical analyses and the adopted models for investigating these linkages highly depend on the development level and economic structure of the countries considered. The focus of this paper is to investigate the dynamic relationship between oil price, energy consumption and macroeconomic performance in Nigeria. The main motivation for the paper came from a study carried out on another country. Bekhet and Yusop (2009) investigated similar issues with data from Malaysia and found that there is an evidence for a stable long-run relationship between the oil price, employment, economic growth. Bekhet and Yusop (2009) also showed that changes in world oil prices also affect the total energy consumption in Malaysia but reverse does not hold in Malaysia context. In view of the fact that Nigeria is also a net export of oil and a developing country facing challenges with energy policy and economic growth, it is imperative to examine whether the result obtained in Malaysia could be replicated with data from Nigeria. This analysis is useful in assessing the dependence of energy consumption for Nigerian economy. This is important because when a country's economy is heavily dependent on energy consumption, environmental policies for energy conservation could adversely affect economic growth. Therefore, the understanding of the direction of causality between energy consumption and economic growth could have important policy implications. Indeed, the relationship between use of energy and economic growth has been a subject of greater inquiry as energy is considered to be one of the important driving forces of economic growth in all economies (Pokharel, 2006). Besides that, this paper is also trying to look at the effects of world oil price to energy consumption as well as to the Nigeria economic performances namely the economic growth.
Author: Burcu Özcan
Publisher: Academic Press
ISBN: 0128167963
Category : Business & Economics
Languages : en
Pages : 162
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Book Description
Environmental Kuznets Curve (EKC): A Manual provides a comprehensive summary of the EKC, summarizing work on this economic tool that can analyze environmental pollution problems. By enabling users to reconcile environmental and economic development policies, Environmental Kuznets Curve studies lend themselves to the investigation of the energy-growth and finance-energy nexus. The book obviates a dependence on outmoded tools, such as carrying capacity, externalities, ecosystem valuation and cost benefit analysis, while also encouraging flexible approaches to a variety of challenges. Provides a comprehensive summary of EKC studies, including advances in econometrics, literature reviews and historical perspectives Outlines solutions to common problems in applying EKC techniques by reviewing major case studies Explores frequently-utilized proxies for environmental quality
Author: Arnold McIntyre
Publisher: International Monetary Fund
ISBN: 1513560743
Category : Business & Economics
Languages : en
Pages : 67
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Book Description
High energy costs contribute to dampening Caribbean competitiveness and potential growth. This paper overviews power sector challenges and takes stock of national and regional strategies to address them. It presents recommendations to move the energy agenda forward based on analyses of macro-aspects of energy reform. These include: i) quantitative assessment of the impact of energy costs on growth and competitiveness; ii) evaluation of gains from implementing announced renewable energy and energy efficiency targets; and iii) analysis of the impact of energy investments on debt sustainability. The paper argues for a bigger role for the private sector in energy reform and discusses prerequisites for good public-private partnerships.
Author: Mr.Trevor Serge Coleridge Alleyne
Publisher: International Monetary Fund
ISBN: 1484366549
Category : Business & Economics
Languages : en
Pages : 125
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Book Description
The reform of energy subsidies is an important but challenging issue for sub-Saharan African (SSA) countries. There is a relatively large theoretical and empirical literature on this issue. While this paper relies on that literature, too, it tailors its discussion to SSA countries to respond to the following questions: Why it is important to reduce energy subsidies? What are the difficulties involved in energy subsidy reform? How best can a subsidy reform be implemented? This paper uses various sources of information on SSA countries: quantitative assessments, surveys, and individual (but standardized) case studies.
Author:
Publisher:
ISBN:
Category : Energy consumption
Languages : en
Pages : 74
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Book Description
Author: International Renewable Energy Agency IRENA
Publisher: International Renewable Energy Agency (IRENA)
ISBN: 9292602527
Category : Technology & Engineering
Languages : en
Pages : 276
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Book Description
IRENA’s latest global cost study shows solar and wind power reaching new price lows. The report highlights cost trends for all major renewable electricity sources.
Author: Mr. Kangni R Kpodar
Publisher: International Monetary Fund
ISBN: 1616356154
Category : Business & Economics
Languages : en
Pages : 34
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Book Description
This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer price index (CPI). We then combine household survey data with the CPI components to construct a CPI index for the poorest and richest income quintiles with the view to assess the distributional impact of the pass-through. To undertake this analysis, the paper provides an update to the Global Monthly Retail Fuel Price Database, expanding the product coverage to premium and regular fuels, the time dimension to December 2020, and the sample to 190 countries. Three key findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad-based in developing economies than in advanced economies. Second, we show that past studies using crude oil prices instead of retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing power of all households declines as fuel prices increase, the distributional impact is progressive. But the progressivity phases out within 6 months after the shock in advanced economies, whereas it persists beyond a year in developing countries.
Author: Ajide Kazeem
Publisher: Litres
ISBN: 5041377871
Category : Mathematics
Languages : en
Pages : 26
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Book Description
Environmental pollution has increasingly become an issue of global concern because of climate change and consciousness for environmental sustainability. To this end, this paper investigates the relationship between energy consumption, carbon dioxide (CO2) emissions and economic growth of the G8 countries over the period of 56 years spanning 1960 through 2015 using both the Fully Modified and Dynamic OLS estimation techniques. The empirical investigation establishes the critical roles played by energy consumption and CO2 emissions on economic growth but in substantially opposite directions. While that of the former positively enhances economic growth, on the one hand, the latter negatively deters it. In addition, a long-run relationship is equally established but with the varied direction of causality. Finally, the study offers significant policy implications directed at using energy resource efficiently as well as curtailing environmental contaminants.
Author: Mr.Benedict J. Clements
Publisher: International Monetary Fund
ISBN: 1484339169
Category : Business & Economics
Languages : en
Pages : 390
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Book Description
Energy subsidies are aimed at protecting consumers, however, subsidies aggravate fiscal imbalances, crowd out priority public spending, and depress private investment, including in the energy sector. This book provides the most comprehensive estimates of energy subsidies currently available for 176 countries and an analysis of “how to do” energy subsidy reform, drawing on insights from 22 country case studies undertaken by the IMF staff and analyses carried out by other institutions.
