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One of the most commonly debated concerns regarding foreign direct investment inflows is the associated environmental adversities that accompany the influx of foreign funds. As a result, assessing the environmental impacts of foreign direct investment inflows is necessary for achieving environmentally friendly economic growth in the contemporary era. Accordingly, the global economies including the members of the Group of Twenty (G-20) should focus on attracting clean foreign direct investments. Against this backdrop, controlling for energy consumption and urbanization, this extant study scrutinizes the effects of foreign direct investment inflows on the carbon dioxide emission figures of selected G-20 countries between 1992 and 2018. The econometric analysis conducted in this paper involves recently developed methods that are efficient in handling cross-sectionally dependent heterogeneous panel data sets. Besides, the analysis is also conducted for sub-panels of high-, upper-middle-, and lower-middle-income G-20 countries to evaluate the possible heterogeneous environmental effects across the G-20 countries belonging to different income levels. Overall, the results highlight that higher foreign direct investment inflows surge carbon dioxide emissions whereby the pollution haven hypothesis is evidenced to hold for the G-20 nations of concern. Similarly, both at the aggregated and disaggregated levels, greater consumption of energy is witnessed to boost carbon dioxide emissions in the long run. Moreover, urbanization is found to trigger carbon dioxide emissions for the G-20 nations overall and the lower-middle-income G-20 nations. Further, the causality analysis reveals that carbon dioxide emissions have bidirectional causal relationships with foreign direct investment inflows, energy consumption, and urbanization. In line with these major findings, this study recommends that the governments of the G-20 countries inhibit inflows of dirty foreign direct investments, reduce fossil fuel dependency, and adopt green urbanization policies for achieving higher economic growth without marginalizing environmental well-being.

The financial landscape of sub-Sahara Africa is undergoing major changes due to the advent of FinTech, which has seen mobile payments boom in the region. This paper examines the salient role of mobile payments in traditional banks’ drive toward financial accessibility in sub-Sahara Africa by using panel econometric approaches that consider the issues of independencies among cross-sectional residuals. Using data from the World Development Index (WDI) 2011–2017 on 11 countries in the region, empirical results from cross-sectional dependence (CD) tests, panel unit root test, panel cointegration test, and the fully modified ordinary least squares (FMOLS) approach indicates that (i) the panel time series data are cross-sectionally independent, (ii) the variables have the same order of integration and are cointegrated, and (iii) growth in mobile payment transactions had a significant positive relationship with formal account ownership, the number of ATMs, and number of new bank branches in the long-run. The paper therefore confirms that the institutional structure of traditional banks that makes them competitive, irrespective of emerging disruptive technologies, has stimulated overall financial accessibility in the region leading to overall sustainable growth in the financial sector. We conclude the paper with feasible policy suggestions.

The aim of this research was to establish the nexus between liquidity and the viability of quoted non-financial establishments in Ghana. Panel data deduced from the published annual reports of 15 entities for the period 2008 to 2017 was employed for the study. Preliminarily, cross-sectional reliance, unit root, serial correlation, heteroscedasticity, co-integration, and causality tests were respectively performed. Our findings established that there exists no cross-sectional reliance, and input variables are stationary and co-integrated with no presence of heteroscedasticity and serial correlation. Estimates from the random effects generalized least squares (GLS) regression showed that liquidity has significant adverse effect on the firms’ Return on Equity (ROE) but had insignificantly positive effect on ROE when surrogated by the cash flow ratio. Finally, test based on causalities uncovered that, with the exception of Current Ratio and ROE that are flanked by bidirectional liaison, no other causal affiliation was evidenced amid other variables. Policy recommendations are further discussed.

This study determines the relationship between economic growth, foreign direct investment, energy intensity, and carbon dioxide emissions along the Belt and Road initiative considering their income classification. The study employs data from 1995 to 2015, the panel unit root test, Westerlund cointegration test, augmented mean group estimation, and the Dumitrescu-Hurlin Granger causality test. The empirical results indicate that (1) the data from all income group had cross-sectional association; (2) the variables are integrated of order 1 after first difference; (3) The variables under discussion were cointegrated; (4) at 1% increase in energy consumption, carbon dioxide emissions increased by 0.8606%, 0.9082%, 0.91815%, and 0.8043% in high-, upper-middle-, lower-middle-, and low-income countries, respectively; (5) a bidirectional causal relationship was found between foreign direct investment and carbon dioxide across all income groups. Energy intensity has a bidirectional association with carbon dioxide in low-, upper-middle-, and high-income countries but one-way association in lower-middle-income countries. These recent methodologies take cross-sectional dependence into account in their estimation and findings show that the causal affiliations together with long-run estimated effects amid employed variables are influenced by the different income levels of Belt and Road countries in a tender to reduce carbon dioxide emissions. The empirical results point to some important policy implications.

This study examined the nexus between urbanization and carbon emissions in West Africa. Second-generation econometric techniques that are robust to cross-sectional dependence and slope heterogeneity were used for the study. From the Pesaran–Yamagata homogeneity test, the slope coefficients were heterogeneous in nature. Also, the Breusch–Pagan LM test, the Pesaran scaled LM test, bias-corrected LM test, Pesaran CD test and the Friedman’s test confirmed the studied panels to be cross-sectionally dependent. Further, the CADF and the CIPS unit root tests established the variables to be first-differenced stationary. Additionally, the Westerlund and Edgerton bootstrap cointegration test and the Pedroni residual cointegration test affirmed the series to be cointegrated in the long run. The Driscoll–Kraay standard errors regression estimator was employed to examine the long-run equilibrium relationship amid the series, and from the results, urbanization had a significantly positive influence on CO 2 emissions in all the three panels. Also, economic growth had a materially positive effect on CO 2 emissions, while renewable energy consumption had a substantially negative impact on CO 2 emissions in all the panels. The causal connections amid the series were finally explored through the Dumitrescu–Hurlin panel causality test, and the discoveries were a bit varied across the various panels. Policy recommendations are further discussed.

This research seeks to enhance the current literature by exploring the nexus among environmental contamination, economic growth, energy use, and foreign direct investment in 6 selected sub-Saharan African nations for a time of 34 years (1980-2014). By applying panel unit root (CADF and CIPS, cross-sectional independence test), panel cointegration (Pedroni and Kao cointegration test, panel PP, panel ADF), Hausman poolability test, and an auto-regressive distributed lag procedure in view of the pooled mean group estimation (ARDL/PMG), experimental findings disclose that alluding to the related probability values, the null hypothesis of cross-sectional independence for all variables is rejected because they are not stationary at levels but rather stationary at their first difference. The variables are altogether integrated at the same order I(1). Findings revealed that there is a confirmation of a bidirectional causality between energy use and CO in the short-run and one-way causality running from energy use to CO in the long run. There is additionally a significant positive outcome and unidirectional causality from CO to foreign direct investment in the long run yet no causal relationship in the short run. An increase in energy use by 1% causes an increase in CO by 49%. An increase in economic growth by 1% causes an increment in CO by 16% and an increase in economic growth squared by 1% diminishes CO by 46%. The positive and negative impacts of economic growth and its square approve the EKC theory. To guarantee sustainable economic development goal, more strict laws like sequestration ought to be worked out, use of sustainable power source ought to be stressed, and GDP ought to be multiplied to diminish CO by the utilization of eco-technology for instance carbon capturing, to save lives and also to maintain a green environment.

This study examined the nexus between carbon emissions, renewable energy consumption, and the economic growth of West African countries for the period 1990 to 2018. To be able to uncover reliable and valid findings, more robust panel estimation methods were employed for the study. From the heterogeneity and cross-sectional dependence tests, the study’s panels were heterogeneous and cross-sectionally dependent. Also, all the series were non-stationary at levels, but gained stationarity after first difference. Further, the Fisher test and the Westerlund and Edgerton bootstrap test found the variables to be cointegrated in the long run. The CCEMG and the DCCEMG estimators were used to explore the long-run equilibrium relationship amid the series, and from the results of the whole sample, CO 2 emissions and renewable energy consumption (REC) had no vital influence on economic growth (GDP) in both estimators. However, the results were a bit different in the sub-panels. Also from the whole sample, control variables urbanization (URB) and population growth (POP) had no material effect on GDP in both estimators. The results were, however, dissimilar in the sub-panels. Finally, the Dumitrescu-Hurlin test was employed to examine the causalities amid the series, and the results were diverse in the various panels. Policy recommendations are further discussed.

Trade openness is one of the main channels of globalization and technological transfers. In environmental economic literature, the implications of trade openness remain controversial and still could be potential drivers of carbon dioxide emissions. This study therefore explores the effect of trade openness in developed countries using EU-18 economies. We employed an econometric approach that accounts for cross-section dependence among study variables. The panel CIPS and CADF unit root show that the variables are stationary and the long-run relationship was confirmed in Westerlund cointegration tests. The mean group (MG) and augmented mean group (AMG) results show that trade openness increases CO 2 -emissions in EU-18. Again, energy consumption and urbanization escalate emissions. The study confirmed the environmental Kuznets curve. Finally, pollution halo and pollution haven hypothesis were confirmed at both estimation methods. The Dumetriscu-Hurlin Granger causality test results confirmed bidirectional causality between trade openness and energy consumption and between trade openness and economic growth. Again, unidirectional Granger causality is running from trade openness and CO 2 emissions. Policy recommendations are further proposed.

This study focuses on the evaluation of the green procurement practices among 7 mining hospitals in Ghana via qualitative analysis techniques. Thus, in this study, based on a 5-year case study, the practices of procurement officers in 7 hospitals belonging to mining companies in Ghana are explored. Within this period, interviews were conducted with key persons with recognizable responsibilities within the supply chain and procurement setup of the facilities. Details of their procurement practices, procedures, and policies were analyzed. A qualitative approach to organizational learning and practice is used to appreciate the existence of these differences observed and also to give a meaning to new perspectives on the challenges in establishing green procurement in the 7 mining companies’ hospitals. The results of the analysis demonstrated that adjustments in the buyers’ practices are not as much dependent on whether they understand, for instance, policies, tools, and procedures, but rather a matter of whether the buyers actually put their knowledge into practice.

This paper explored the link between energy consumption and carbon emissions in North Africa through an Environmental Kuznets Curve (EKC) framework. Panel data extracted from the data base of the World Development Indicators (WDI) for the period 1990–2015 were used for the study. In the analytical process, more modern econometric techniques that are vigorous to cross-sectional dependence and slope heterogeneity were employed. From the findings, the studied panel was heterogeneous and cross-sectionally dependent. Also, all the series were first differenced stationary and cointegrated in the long-run. Further, the Augmented Mean Group (AMG) and the Common Correlated Effects Mean Group (CCEMG) estimators affirmed energy consumption as a significantly positive determinant of CO2 emissions. Also, urbanization and foreign direct investments promoted the emanation of CO2 in the block. Finally, an inverted U-shaped relationship between economic growth and CO2 emissions was disclosed, validating the EKC hypothesis. On the causal connections amid the series, there was a bidirectional causality between energy consumption and CO2 emissions, economic growth and CO2 emanations, and urbanization and CO2 emissions. Lastly, a unidirectional causality from foreign direct investments to CO2 emissions was unfolded. Based on the findings, it was recommended among others that, the countries should advocate for the consumption of renewable energies like wind, solar, hydro, biomass and biofuels among others. This will help to reduce the rate of emissions in the bloc.