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DOES ENERGY CONSUMPTION INHIBIT ECONOMIC AND DEVELOPMENT? EVIDENCE FROM OIL EXPORTING AND OIL IMPORTING COUNTRIES IN AFRICA

Authors: OKEDINA Iyabo , MUSA Dasauki , EDY-EWOH Uduakobong , Ninfa D., Lawal I

Publication Type: Journal article

Journal: Development Studies Round Table (a Journal Of Development)

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Abstract

The study investigates the relationship between energy consumption and economic growth panel in 32 oil exporting and oil importing countries in African. Annual data from 1980-2018 was gathered from the World Bank Development Indicators (WDI). The Pooled Mean Group (PMG) and the Mean Group (MG) estimation techniques were applied while the Hausman test was implemented to select to best model. The MG result indicates that energy consumption has a Negative significant effect on economic growth in oil importing countries while the effect on economic growth is positive in oil exporting countries in the long run. Higher economic growth can be attained with less energy consumption in oil exporting counties than in oil importing countries. The oil exporting countries can leverage on this advantage to achieve energy efficiency. The oil importing countries should diversify their energy mix to reduce dependence on energy from fossil fuels. There is need for stronger policies and investments to attain higher economic development induced by higher energy efficiency in Africa.

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OKEDINA,I. MUSA,D. EDY-EWOH,U. Ninfa,G.D Lawal,I. . (2018). DOES ENERGY CONSUMPTION INHIBIT ECONOMIC AND DEVELOPMENT? EVIDENCE FROM OIL EXPORTING AND OIL IMPORTING COUNTRIES IN AFRICA, 6 (), 259-259.

OKEDINA,I. MUSA,D. EDY-EWOH,U. Ninfa,G.D Lawal,I. . "DOES ENERGY CONSUMPTION INHIBIT ECONOMIC AND DEVELOPMENT? EVIDENCE FROM OIL EXPORTING AND OIL IMPORTING COUNTRIES IN AFRICA" 6, no (), (2018): 259-259.

OKEDINA,I. and MUSA,D. and EDY-EWOH,U. and Ninfa,G.D and Lawal,I. and . (2018). DOES ENERGY CONSUMPTION INHIBIT ECONOMIC AND DEVELOPMENT? EVIDENCE FROM OIL EXPORTING AND OIL IMPORTING COUNTRIES IN AFRICA, 6 (), pp259-259.

OKEDINAI, MUSAD, EDY-EWOHU, NinfaGD, LawalI, . DOES ENERGY CONSUMPTION INHIBIT ECONOMIC AND DEVELOPMENT? EVIDENCE FROM OIL EXPORTING AND OIL IMPORTING COUNTRIES IN AFRICA. 2018, 6 ():259-259.

OKEDINA,Iyabo , MUSA,Dasauki , EDY-EWOH,Uduakobong , Ninfa,Gwatau D., and Lawal,I . "DOES ENERGY CONSUMPTION INHIBIT ECONOMIC AND DEVELOPMENT? EVIDENCE FROM OIL EXPORTING AND OIL IMPORTING COUNTRIES IN AFRICA", 6 . (2018) : 259-259.

O.Iyabo M.Dasauki E.Uduakobong N.Gwatau D. & L.I , "DOES ENERGY CONSUMPTION INHIBIT ECONOMIC AND DEVELOPMENT? EVIDENCE FROM OIL EXPORTING AND OIL IMPORTING COUNTRIES IN AFRICA" vol.6, no., pp. 259-259, 2018.

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