Renewable energy, urbanization, and ecological footprint linkage in CIVETS
2020
Nathaniel, Solomon | Nwodo, Ozoemena | Sharma, Gagan | Shah, Muhammad
Emerging economies are mostly plague by a massive consumption of non-renewable energy amidst an ever inceasing urbanization rate with little or no attention to the quality of the environmental. As such, this paper investigates the relationship between renewable energy, urbanization, economic growth, trade openness, and ecological footprint in CIVETS countries, namely, Colombia, Indonesia, Vietnam, Egypt, Turkey, and South Africa. The study employs augmented mean group estimator, panel cointegration, and causality tests. The findings reveal that renewable energy improves environmental quality, and trade is not particularly harmful to the environment. However, non-renewable energy consumption and urbanization are the chief contributors to environmental degradation in the CIVETS countries. Economic expansion mitigates environmental deterioration in Colombia, South Africa, and Turkey, but contributes to pollution in Egypt, Indonesia, and Vietnam. Finally, the causality test suggests that urbanization drives environmental degradation. Policy directions are discussed.
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