Tomiwa Sunday Adebayo

Cyprus International University · Economics

By comparing ecological footprint and biocapacity, the load capacity factor follows a given ecological threshold, thus allowing for a thorough study of environmental deterioration. As a result, this research uses the load capacity factor (LCF) as a distinct proxy for ecological deterioration, resulting in a detailed environmental evaluation tool th...

Environmental sustainability and energy transition, especially the renewable energy transition, have become critical concerns of nations throughout the world in recent decades. The sustainable and eco-friendly technologies have led to more sustainable methodologies, substantial stewardship of our natural resources, and the conversion to renewable e...

Challenges brought on by the rapid rate of economic growth include the depletion of natural resources (NAR) and environmental deterioration. Due to its abundant mineral resources and rapid economic growth, China has gained attention from both the developing and developed worlds. Using data from 1970/Q1 to 2020/Q4, this paper evaluates the time‐freq...

This research aimed to examine the complex interaction between technological innovation, renewable energy consumption, natural resources, and carbon dioxide (CO2) emissions of BRICS (i.e., Brazil, Russia, India, China, and South Africa) countries from 1990 to 2019, to accomplish the Paris Climate Conference (COP-21) objective of reducing CO2 emissi...

This study analyzes the impact of biomass energy, financial development, and economic growth on environmental quality using the novel Fourier autoregressive distributed lag (ARDL) approach on annual data for the period 1965–2018 in the United States (USA). The study analyzes the impact of related variables on the load capacity factor (LCF) as well...

Ecological degradation is a major challenge for all nations. The problem is particularly worrying for South Africa, which has recently suffered from various ecological catastrophes. Thus, the empirical study evaluates the nexus between CO2 emissions and financial development, renewable energy, economic growth and environmental-related technologies...

Many European nations, including Spain, are having difficulties achieving their Sustainable Development Goals (SDGs) objectives. Resultantly, the current research discusses the development of an SDG framework for Spain, which can be utilized as a model for other EU nations. This research examines whether GDP growth, technological innovation, and en...

The recent COP27 has propelled nations towards achieving reduced environmental degradation. Governments are, therefore, required to develop effective policy tools to improve their environmental sustainability plans. In line with this, an empirical study is required to explore the all-inclusive effect of ecological sustainability policy on ecologica...

The study aims to investigate the financial technology (FinTech) factors influencing Chinese banking performance. Financial expectations and global realities may be changed by FinTech’s multidimensional scope, which is lacking in the traditional financial sector. The use of technology to automate financial services is becoming more important for ec...

Previous empirical studies have typically employed carbon dioxide (CO2) emissions and ecological footprint (EF) as indices of environmental quality; however, these measures ignore supply-side environmental concerns. To overcome this issue, this study uncovers the effect of economic complexity, foreign direct investment, and renewable electricity on...

The income inequality-economic growth linkage is a topical issue in economics and policy discussions. Both theoretical and empirical results on the impact of income inequality on economic growth have been controversial. One of the criticisms of the existing studies relates to using cross-sectional data and linear estimation techniques for empirical...

The gravest challenge for economic sustainability is the undetermined growth in the financial and economic risks of the nation, which need to be overcome with adequate measures without compromising economic growth. The uncertainty of economic factors produces fluctuations in the financial sector and makes them more vulnerable. However, the existing...

Despite Portugal’s effort to reduce carbon emissions, the country still emits about 1.6% of the European Union’s CO2 emissions. Meanwhile, limited empirical studies have been undertaken in the context of Portugal. As a result, this study examines the asymmetric and long-term impact of CO2 intensity of GDP, energy consumption, renewable energy and e...

Environmental taxes and pollution reduction have been the subject of several studies. By factoring the costs of pollution and other environmental costs into pricing, environmental taxes assist in correcting erroneous price mechanisms in the marketplace. It did, however, overlook the government's potential to facilitate the use of efficient energy s...

The World Energy Council has consistently formulated useful policies and ranked countries in term of their performances in environmental sustainability, energy equity, and energy security. In a novel approach, and possibly in one of the most unique studies in the World Energy Trilemma literature, the current study examines the interaction of energy...

This study analyzes time- and frequency-varying impacts of hydroelectricity energy consumption, natural gas energy consumption, and economic growth on environmental sustainability proxied by carbon dioxide (CO2) emissions in the United States of America (the US) for the period 1965/Q1 to 2020/Q4. This study is the first of its kind to contribute to...

In response to the mounting risks posed by climate change, innovation and mitigation of pollution have emerged as key drivers of sustainable growth and the environment. This research aims to explore the effect of economic complexity and financial risk on the load capacity factor. The research employed a series of second‐generation techniques such a...

This study focuses on uncovering the effect of country risks and renewable energy consumption on environmental quality. In this context, the study examines Mexico, Indonesia, Nigeria, and Turkey (MINT) nations; takes economic growth, trade openness, and urbanization into account; includes data from 1990 to 2018; applies cross-sectional autoregressi...

The growth of financial services has been critical in Turkey's pursuit of economic growth objectives throughout the last two decades. Nevertheless, it can’t be denied that it has a negative impact on environmental quality. Based on this, in the current paper, the effect of energy use, trade openness, and financial development on the load capacity f...

An accurate environmental quality assessment is crucial to create an effective climate framework to combat environmental problems. A pertinent climate purpose is being offered based on greenfield investment and financial inclusion to support the energy transition, especially in light of the most recent conference on climate change (COP27). The stud...

The acceleration of ecological footprint and trade openness are two major hot subjects that have received much attention in recent years. Thus, the current study evaluates the interrelationship between ecological footprint and trade openness in Mexico, Indonesia, Nigeria, and Turkey (MINT) nations. The study utilized time series and panel analysis...

In this paper, we assess the effects of fiscal policy on load capacity factor using data spanning from 1990 to 2018 in BRICS nations (Brazil, Russia, China, India, and South Africa). Unlike both CO2 emissions and ecological footprint, the load capacity factor captures both the demand and supply sides of the environment. This research leverages on c...

With the expanding discussion over climate change mitigation, the shift to clean energy is a crucial challenge. The intricate structure of the nuclear energy-emissions nexus renders predicting whether nuclear acts as a green source of energy problematic. Hence, this study evaluates the effect of nuclear and renewable energy consumption on ecologica...

This study investigates the time–frequency nexus of carbon dioxide (CO2) emissions with economic growth, nonrenewable (i.e., coal, natural gas, and oil), and renewable (i.e., hydro and geothermal) energy consumption. In this context, BRICS countries (namely, Brazil, Russian Federation, India, China, and South Africa), which are leading emerging cou...

The current study evaluates the effect of financial development (FD), economic growth (GDP), trade globalization (TGLO), renewable energy consumption (REC), and human capital (HC) on ecological footprint (ECF) in Italy using data between 1985 and 2018. We further assess the combined impact of trade globalisation and human capital on ecological foot...

Today, the world is encountering one of the most challenging moments in history due to the surging levels of greenhouse gas (GHG) emissions linked to many factors, with natural resources standing out. The recent COP26 extensively echoes the need for a conscious exploration of natural resources in a bid to sustain the ecosystem for the present and f...

The present research evaluates the effect of technological innovation distribution on the distribution of income using data from between 1992Q1 and 2019Q4 for the BRICS-T (Brazil, Russia, India, China, South Africa, and Turkey) nations. The BRICS-T nations present a good case for this research since this problem could be more widespread in developi...

The Environmental Kuznets Curve (EKC) hypothesis is a theoretical concept that explains the association between income and environmental degradation. Prior research assessed the current association using a constant parameter. Nonetheless, as a result of political and global economic conditions changes, implemented policies, technological shocks, an...

Maintaining a balance between the well-being of the economy and the environment has become a top priority for governments globally. In the contemporary age, world economies, particularly the emerging ones like MINT nations, highlight the need for eco-friendly economic expansion. The MINT nations are thriving economically but are having difficulty r...

This study analyzes the determinants of carbon dioxide (CO 2) emissions, ecological footprint , and load capacity factor for the first time by applying the Fourier quantile causality test to data for the period 1975q1-2018q4 for Thailand. In this context, the study investigates the validity of the pollution haven hypothesis (PHH) by comprehensively...

The current study assesses nonlinear/asymmetric influences of natural resources (NR) on the ecological footprint (EF) at both the lower and higher tails for the case of PIIGS countries (Portugal, Ireland, Italy, Greece, and Spain) using quarterly data between 1970 and 2018. The PIIGS grew in popularity during the 2008 eurozone financial downturn, a...

The study evaluates the effect of political risk on CO2 emission in the top 10 most politically stable economies (Australia, Canada, Germany, Finland, Denmark, Norway, Netherlands, New Zealand, Sweden, and Switzerland) from 1991/Q1 and 2019/Q4. To the investigators' understanding, this is the first empirical analysis that inspects the effect of pol...

Since the introduction of the Sustainable Development Goals (SDGs), the BRICS nations have had difficulty in achieving the SDG targets, since sustaining ecological integrity has been a struggle for them. As a result, this research utilized a holistic indicator defined as load capacity factor to assess environmental quality derived from two major ec...

The globe is now in ecological turmoil as a result of the unrelenting increase in global warming. As a result, governments worldwide are committing to decarbonizing the environment, with the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA) playing an important role in this effort. Hence, this paper evaluates the nonlinear (asymmetri...

In the current sustainable growth framework, the role of renewable energy cannot be overemphasized. Furthermore, several sustainable development targets necessitate the optimal utilization of biomass energy. Their benefits, trade-off dynamics, and implementation vary according to geography, necessitating an in-depth examination to manage their infl...

Due to rising economic growth, financial flows have been of particular interest to nations. However, their environmental concerns have been overlooked particularly in developing countries. To aid in filling this gap, an exploration on the link between financial flows and environmental quality in ECOWAS member countries for the period 1990–2017 was...

The quest for ecological sustainability while reducing the impacts of environmental deterioration has become a worldwide endeavour. Furthermore, it is unclear how developing economies such as Brazil can considerably improve environmental quality (EQ). This paper contributes to the ongoing literature by evaluating the effect of green finance, econom...

This paper considers newly industrialised countries (NICs) as examples to evaluate the interrelationship between non-renewable energy (oil, coal and gas), renewable energy (hydro and geothermal) and ecological footprint, using panel data from 1990 to 2018. The findings from both the common correlated effects mean group (CCEMG) and augmented mean gr...

The growth of financial services has been critical in Turkey's pursuit of economic growth objectives throughout the last two decades. Nevertheless, it can’t be denied that it has a negative impact on environmental quality. Based on this, in the current paper, the effect of energy use, trade openness, and financial development on the load capacity f...

Inclusive and sustainable growth can only be ensured through socioeconomic and technological transformation. In this regard, this study offers a new perspective on the dynamic interrelationship between financial development (FD), economic growth (GDP), information and communication technologies (ICT), education (EDU), and CO 2 emissions (CO 2) in t...

The economies of the emerging seven (E7) are not insulated from the climate change challenges, which is a key concern for most countries. The E7 nations have undertaken part in initiatives to combat climate change, particularly in terms of reducing CO 2 emissions from the trajectory of productivity expansion in their countries. It is for this reaso...

The current paper explores the influence of disintegrated energy and economic complexity on CO2 emissions (CO2) in the top economic complexity economies. The model also incorporates other drivers of CO2, such as technological innovation and economic growth. The current research utilizes data stretching from 1993 to 2018. The research employed Weste...

Climate change has been a topic of significant discourse and debate among scholars and policy makers for several decades. In recent decades, it has become a major problem for the entire human race. Therefore, the present research evaluates the impact of oil consumption, hydro energy use, population density, and economic growth on ecological footpri...

Regulations and taxes are considered essential drivers for climate change policies and improving ecological quality. The prior research primarily relies on regulatory or non-economic measures to ensure ecological sustainability, while the role of market-based or economic measures in ecological sustainability is yet to be investigated. Hence, realiz...

The G7 nations have yet to have a detectable influence on the accomplishment of Sustainable Development Goals (SDGs) 8, 7, and 13. This scenario might be attributed to the fundamental problem with fossil fuel utilization in these nations as well as the difficulties in putting renewable energy generalization into practice. The G7 nations are battlin...

This study examines whether the raw material productivity, export intensification, and environmental‐related technologies in the Nordic region (i.e., Denmark, Finland, Iceland, Norway, and Sweden) drives the region's carbon neutrality target. By adopting both symmetric and asymmetric empirical approaches over the period 1990–2019, the study found t...

This paper examines the impact of structural change, economic growth, hydro energy consumption , and coal energy consumption on ecological footprint, in the case of India. We employ a novel dynamic autoregressive distributed lag (DYNARDL) method to improve the existing studies' limitations and weaknesses. Thus, the current research contributes empi...

The present millennium records the most devastating effects of global warming than what was evident in the pre-industrial era. The pervasive effects of global warming have raised concerns about the sustainability of the present and future generations. Hence, researchers are working assiduously towards proffering the most effective method of halting...

This research utilizes a bootstrap rolling-window (BRW) causality test to explore the causal interrelationship between nuclear energy consumption (NUC) and carbon dioxide emissions (CO 2) in 6 developed countries from 1980 to 2020. When there are structural shifts in the full-sample time series, empirical research exploring causality between two-ti...

Purpose The International Energy Agency states that the global energy intensity must reduce by 2.9% yearly before attaining Sustainable Development Goal 7.3 by 2030. However, the European Union (EU) seeking to attain a climate-neutral EU by 2050 shall require a substantial rate of reducing energy intensity. Consequently, this study aims to investig...

The unflinching surge in global warming has left the world in ecological chaos. Consequently, governments across the globe are committing to achieving decarbonizing the environment with a target aimed at 2050, of which China is a key player. In effect, this study seeks to contribute to the strides by querying the extent to which shocks in technolog...

Natural resources are extremely important to the economy, particularly in emerging nations such as the MINT (Mexico, Indonesia, Nigeria, and Turkey) nations. To improve their economic performance, such nations put a priority on maximizing the use of natural resources. These natural materials are the basis on which all living creatures rely, and the...

The Nordic nations have yet to significantly contribute to achieving Sustainable Development Goals (SDG) 7 and 13. This predicament might be attributed to fundamental financialization concerns in these nations and renewable energy generation implementation issues. The Nordic nations are fighting to reduce CO2 emissions as a result of these two situ...

China's sustainable development relies vastly on the country's ability to produce safe and reliable resources which can help the country meet its carbon neutrality target by 2060. In this study, we therefore deem it necessary to examine the role of nuclear energy, hydro, and biomass energy on China's overall ecological footprint in the presence of...

The current paper assessed the time-frequency analysis interrelationship between CO2 emissions and financial development, economic growth, renewable energy use, structural change, and non-renewable energy use in Sweden. We utilized a quarterly dataset stretching from 1980-2019. In order to unlock these interrelationships, we leverage wavelet tools...

This study examines the linkage between economic risk and political risk in the United Kingdom (UK). This linkage has attracted the attention of policymakers; however, there is no consequence of the linkage in the existing literature. The study aims to close this gap for the UK case by applying Wavelet Coherence (WTC) and Quantile-on-Quantile regre...

This paper bridges the gap in the literature by employing the novel quantile-on-quantile (QQ) approach, the quantile regression approach, and the nonparametric Granger causality test in quantiles to assess the effect of international trade on consumption-based carbon emissions (CCO2e) in Uruguay. Our study incorporates other drivers of CCO2 emissio...

The increasing threat to environmental sustainability as a result of greenhouse gas (GHG) emissions from fossil fuel base power plants has necessitated the need to find sustainable energy sources to meet the world's energy demands. This study focuses on assessing the potential of a hybrid power plant for the production of electricity, hydrogen for...

Nuclear energy has sparked international attention as one of the most important strategies for reducing emissions thanks to its ability to provide low-carbon power. Based on this interesting fact, the current research explores the effect of nuclear energy on CO 2 emissions in the leading countries by nuclear power consumption using a quarterly data...

Environmental degradation has accelerated rapidly in recent decades. Researchers and policymakers around the world have concentrated their efforts on this phenomenon because of its effect on human beings. Because of the expanding desire for fossil fuels in developed and developing nations, there has been minimal worldwide agreement on how energy co...

Despite their economic success, the BRICS countries have yet to achieve environmental sustainability. On the other hand, these countries will not be able to maintain their economic expansion if they do not protect the natural environment. In this regard, this paper intends to assess the effects of financial integration (globalization) on ecological...

This present research explores the effect of economic expansion, technological innovation, trade openness, and industrialisation on energy intensity in BRICS economies using a dataset from 1990 to 2019. Furthermore, this study evaluates the combined effects of industrialisation and technological innovation on energy intensity. We employed second-ge...

First and foremost, the present study seeks to traverse the informal sector characterized by shadow economy in the presence of financial development, economic growth and stock market performance on environmental pollution in Nigeria from 1981 to 2019. The dynamic autoregressive distributed lag (DARDL) approach was employed to measure the short and...

This study examines the time and frequency dependency nexus between foreign exchange (FX) rates and country risk in Turkey. We considered Turkey because it is a negative outlier country in terms of the progress of these indicators. Using quarterly data from 1990/Q1 to 2018/Q4 and the Wavelet Coherence approach, we find that an increase in the count...

Currently, the most crucial economic and ecological issues are related to environmental degradation and sustainability. On this backdrop, this paper examines the impact of financial globalization and natural resource rent on load capacity factor, using the novel dual adjustment approach and time-frequency domain causality approaches, in the case of...

Achieving environmental sustainability has become a global concern amidst increasing climate change threat. Using quarterly frequency data for the case of Russia from 1992 to 2018, the present study explores the interaction between disaggregated energy consumption (renewable energy and non-renewable energy), trade flow and economic growth on a broa...