Pub Date : 2023-08-21DOI: 10.1080/23322039.2023.2242668
Dorcas Gonese, Asrat Tsegaye, Sibanesizwe Alwyn Khumalo, F. Kapingura
Abstract The paper examines the effect of trade openness on poverty using the panel Autoregressive Distributive Lag (ARDL) estimation technique from 1980 to 2019 in Southern African Development Community (SADC) countries. The paper focuses on non-income poverty; in this paper, non-income poverty is measured by the human development index since this measure looks at poverty beyond just income. The paper assesses the direct and indirect effects by including the mediating variables in the non-income poverty trade openness model. The study results assist SADC governments and policymakers in addressing poverty reduction policies amid the trade openness era and identifying appropriate complementary policies for reducing poverty in SADC countries. The study’s findings indicate that trade openness reduces non-income poverty (NPOV) in SADC countries in the long run. Again, the empirical results suggest that trade openness reduces NPOV when economic growth and human capital development are high. Yet, trade openness worsens NPOV when income inequality increases. Surprisingly an inconsistent result indicates that a mediating variable of trade openness and financial development has a negative effect on NPOV in SADC countries. This calls for SADC governments and policymaking institutions to revamp the trade opening reform by making economic growth sustainable and inclusive, improving the education system’s quality, maintaining income distribution, and making pro-poor financial systems across the region.
{"title":"Trade openness and non-income poverty in Southern African Development Community (SADC) countries: A panel Autoregressive Distributive Lag (ARDL) analysis","authors":"Dorcas Gonese, Asrat Tsegaye, Sibanesizwe Alwyn Khumalo, F. Kapingura","doi":"10.1080/23322039.2023.2242668","DOIUrl":"https://doi.org/10.1080/23322039.2023.2242668","url":null,"abstract":"Abstract The paper examines the effect of trade openness on poverty using the panel Autoregressive Distributive Lag (ARDL) estimation technique from 1980 to 2019 in Southern African Development Community (SADC) countries. The paper focuses on non-income poverty; in this paper, non-income poverty is measured by the human development index since this measure looks at poverty beyond just income. The paper assesses the direct and indirect effects by including the mediating variables in the non-income poverty trade openness model. The study results assist SADC governments and policymakers in addressing poverty reduction policies amid the trade openness era and identifying appropriate complementary policies for reducing poverty in SADC countries. The study’s findings indicate that trade openness reduces non-income poverty (NPOV) in SADC countries in the long run. Again, the empirical results suggest that trade openness reduces NPOV when economic growth and human capital development are high. Yet, trade openness worsens NPOV when income inequality increases. Surprisingly an inconsistent result indicates that a mediating variable of trade openness and financial development has a negative effect on NPOV in SADC countries. This calls for SADC governments and policymaking institutions to revamp the trade opening reform by making economic growth sustainable and inclusive, improving the education system’s quality, maintaining income distribution, and making pro-poor financial systems across the region.","PeriodicalId":106250,"journal":{"name":"Cogent Economics & Finance","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-08-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114996596","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-15DOI: 10.1080/23322039.2023.2230727
Thuy Cao, H. Nguyen, Khuong Nguyen, Liem Nguyen
Abstract Theoretically, corporate social responsibility (CSR) can have both positive and negative effects on stock price crash risk, and the empirical evidence is mixed. CSR can be a useful signal of better informational quality and acts as an effective corporate governance mechanism, both of which serve important roles in emerging markets. Using a sample of 225 listed firms in Vietnam over the period 2014–2019, we examine the impact of corporate social responsibility disclosure (CSRD) on stock price crash risk, considering the moderating effect of information asymmetry. The research shows that CSRD lowers the risk of a stock price crash. Importantly, this is the first study to investigate the moderating role of information asymmetry in the relationship between CSR disclosure and stock price crash risk. This is in line with the view that CSRD decreases information asymmetry, thus lowering the likelihood of stock price crash risk. Based on the results, we provide important implications for corporate governance and investment in the context of developing countries.
{"title":"Information asymmetry on the link between corporate social responsibility and stock price crash risk","authors":"Thuy Cao, H. Nguyen, Khuong Nguyen, Liem Nguyen","doi":"10.1080/23322039.2023.2230727","DOIUrl":"https://doi.org/10.1080/23322039.2023.2230727","url":null,"abstract":"Abstract Theoretically, corporate social responsibility (CSR) can have both positive and negative effects on stock price crash risk, and the empirical evidence is mixed. CSR can be a useful signal of better informational quality and acts as an effective corporate governance mechanism, both of which serve important roles in emerging markets. Using a sample of 225 listed firms in Vietnam over the period 2014–2019, we examine the impact of corporate social responsibility disclosure (CSRD) on stock price crash risk, considering the moderating effect of information asymmetry. The research shows that CSRD lowers the risk of a stock price crash. Importantly, this is the first study to investigate the moderating role of information asymmetry in the relationship between CSR disclosure and stock price crash risk. This is in line with the view that CSRD decreases information asymmetry, thus lowering the likelihood of stock price crash risk. Based on the results, we provide important implications for corporate governance and investment in the context of developing countries.","PeriodicalId":106250,"journal":{"name":"Cogent Economics & Finance","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115581155","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-15DOI: 10.1080/23322039.2023.2242662
Kolotioloman Soro, M. M. Senou
Abstract In developing countries, economic inequality is attracting considerable attention. Many factors including financial exclusion are key in explaining income gap in developing countries. This paper examines the effect of access to financial services through digital technologies on income inequality. Using data from the World Development Indicator (WDI), the Central Bank of West African States (BCEAO) and the Standardized World Income Inequality Database (SWIID), we estimated a pooled means group estimation (PMGE) and a dynamic fixed effect (DFE) as a robustness test. The results indicate that digital financial inclusion leads to a decrease in income inequality. In the long run, there is a negative and significant effect of digital financial inclusion on inequality. The short run results evidenced more of the heterogeneity effect of digital financial inclusion in WAEMU countries due to the diversity, inconclusiveness, and counterintuitive results of the effect of DFI on inequality.
{"title":"Digital financial inclusion and income inequality in WAEMU: What causality for what heterogeneity?","authors":"Kolotioloman Soro, M. M. Senou","doi":"10.1080/23322039.2023.2242662","DOIUrl":"https://doi.org/10.1080/23322039.2023.2242662","url":null,"abstract":"Abstract In developing countries, economic inequality is attracting considerable attention. Many factors including financial exclusion are key in explaining income gap in developing countries. This paper examines the effect of access to financial services through digital technologies on income inequality. Using data from the World Development Indicator (WDI), the Central Bank of West African States (BCEAO) and the Standardized World Income Inequality Database (SWIID), we estimated a pooled means group estimation (PMGE) and a dynamic fixed effect (DFE) as a robustness test. The results indicate that digital financial inclusion leads to a decrease in income inequality. In the long run, there is a negative and significant effect of digital financial inclusion on inequality. The short run results evidenced more of the heterogeneity effect of digital financial inclusion in WAEMU countries due to the diversity, inconclusiveness, and counterintuitive results of the effect of DFI on inequality.","PeriodicalId":106250,"journal":{"name":"Cogent Economics & Finance","volume":"85 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123187925","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-15DOI: 10.1080/23322039.2023.2246005
N. Lawana, F. Kapingura, Asrat Tsegaye
Abstract The study examines the impact of non-communicable diseases (NCDs) and employment status in South Africa utilising the National Income Dynamics Study longitudinal data from 2008 to 2017. The Generalized Linear Latent and Mixed Methods (GLLAMM) were employed to fit the multinomial logit model with correlated random intercept over panel multinomial logit without random effects to control for unobserved heterogeneity between individuals or intercepts. The empirical results indicate that the significant impact of NCDs on employment status differs by gender. NCDs were found to be most threatening to women employment status. The odds of women being economically inactive in the labour market are highly associated with NCDs. Further, having multiple NCDs also significantly increases the women’s probability of being economically inactive population relative to being employed. The results highlight the necessity for undertaking a massive awareness campaign regarding the prevention and control of NCDs, especially among women.
{"title":"The impact of non-communicable diseases on employment status in South Africa","authors":"N. Lawana, F. Kapingura, Asrat Tsegaye","doi":"10.1080/23322039.2023.2246005","DOIUrl":"https://doi.org/10.1080/23322039.2023.2246005","url":null,"abstract":"Abstract The study examines the impact of non-communicable diseases (NCDs) and employment status in South Africa utilising the National Income Dynamics Study longitudinal data from 2008 to 2017. The Generalized Linear Latent and Mixed Methods (GLLAMM) were employed to fit the multinomial logit model with correlated random intercept over panel multinomial logit without random effects to control for unobserved heterogeneity between individuals or intercepts. The empirical results indicate that the significant impact of NCDs on employment status differs by gender. NCDs were found to be most threatening to women employment status. The odds of women being economically inactive in the labour market are highly associated with NCDs. Further, having multiple NCDs also significantly increases the women’s probability of being economically inactive population relative to being employed. The results highlight the necessity for undertaking a massive awareness campaign regarding the prevention and control of NCDs, especially among women.","PeriodicalId":106250,"journal":{"name":"Cogent Economics & Finance","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121565592","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-15DOI: 10.1080/23322039.2023.2238377
V. Aleknevičienė, Karolina Vilimaitė
Abstract We investigate whether ownership structure influences the likelihood and amount of dividend payments in two groups of European Union’s public companies: Nordic and Baltic. Nordic and Baltic capital markets have become increasingly integrated through Nasdaq OMX stock exchanges and harmonized by the EU corporate governance directives. However, some differences in the corporate governance system, legislation, practice, and ownership structure still exist. The study covers Nordic and Baltic companies listed on the Nasdaq OMX for the period 2013–2020. Logit and Tobit panel regressions are applied to disclose the effect of ownership structure on the likelihood and amount of dividend payments accordingly. We find that ownership concentration positively influences the likelihood and amount of dividend payments in Nordic public companies. Managerial ownership does not influence the likelihood of dividend payments but positively influences their amount. Institutional ownership does not influence the likelihood of dividend payments but negatively influences their amount. Our findings revealed that ownership structure does not have any effect either on the likelihood of dividend payments or on their amount in Baltic public companies. We disclosed that the effect of ownership structure on dividend payments is influenced by the context behind ownership structure. The results of our research will improve understanding and predict the decision-making on dividend payments and will help investors manage their portfolios, choosing between current and future consumption.
{"title":"Effect of ownership structure on dividend payments: Evidence from public companies in Nordic and Baltic Countries","authors":"V. Aleknevičienė, Karolina Vilimaitė","doi":"10.1080/23322039.2023.2238377","DOIUrl":"https://doi.org/10.1080/23322039.2023.2238377","url":null,"abstract":"Abstract We investigate whether ownership structure influences the likelihood and amount of dividend payments in two groups of European Union’s public companies: Nordic and Baltic. Nordic and Baltic capital markets have become increasingly integrated through Nasdaq OMX stock exchanges and harmonized by the EU corporate governance directives. However, some differences in the corporate governance system, legislation, practice, and ownership structure still exist. The study covers Nordic and Baltic companies listed on the Nasdaq OMX for the period 2013–2020. Logit and Tobit panel regressions are applied to disclose the effect of ownership structure on the likelihood and amount of dividend payments accordingly. We find that ownership concentration positively influences the likelihood and amount of dividend payments in Nordic public companies. Managerial ownership does not influence the likelihood of dividend payments but positively influences their amount. Institutional ownership does not influence the likelihood of dividend payments but negatively influences their amount. Our findings revealed that ownership structure does not have any effect either on the likelihood of dividend payments or on their amount in Baltic public companies. We disclosed that the effect of ownership structure on dividend payments is influenced by the context behind ownership structure. The results of our research will improve understanding and predict the decision-making on dividend payments and will help investors manage their portfolios, choosing between current and future consumption.","PeriodicalId":106250,"journal":{"name":"Cogent Economics & Finance","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115940394","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-15DOI: 10.1080/23322039.2023.2243695
W. Ohemeng, K. Ofori‐Boateng, Elvis Kwame Agyapong, Joseph Darmoe
Abstract The study explores the influence of environmental risk (macroeconomic uncertainty and environmental sustainability risk) on the inflow of foreign direct investment (FDI), utilizing data from 37 economies in sub-Saharan Africa (SSA) from 1996 to 2019. The empirical analyses were carried out using Panel Corrected Standard Error (PCSE) estimation technique. The outcomes show that higher level of uncertainty in GDP growth, inflation uncertainty and financial development volatility induce more FDI inflows whilst uncertainty in exchange rate adversely impacts FDI inflows in SSA. The paper highlights how effectiveness of governance, stable political atmosphere and quality of regulatory structures moderate the relationship between environmental risk and FDI with striking varying outcomes. Consistent with the pollution haven hypothesis, the interactions between governance effectiveness, political stability, regulatory structures and environmental risk suggest that the sub-region is attracted to risk loving speculative investors who prefer poorly regulated and weak governance environment. From policy implication, the findings imply that FDI composition in the sub-region may have moved more towards the speculative type, which may not necessarily be classified as pro-growth in nature.
{"title":"Environmental risk and growth in foreign direct investment: Is the composition of FDI in sub-Saharan Africa a speculative type?","authors":"W. Ohemeng, K. Ofori‐Boateng, Elvis Kwame Agyapong, Joseph Darmoe","doi":"10.1080/23322039.2023.2243695","DOIUrl":"https://doi.org/10.1080/23322039.2023.2243695","url":null,"abstract":"Abstract The study explores the influence of environmental risk (macroeconomic uncertainty and environmental sustainability risk) on the inflow of foreign direct investment (FDI), utilizing data from 37 economies in sub-Saharan Africa (SSA) from 1996 to 2019. The empirical analyses were carried out using Panel Corrected Standard Error (PCSE) estimation technique. The outcomes show that higher level of uncertainty in GDP growth, inflation uncertainty and financial development volatility induce more FDI inflows whilst uncertainty in exchange rate adversely impacts FDI inflows in SSA. The paper highlights how effectiveness of governance, stable political atmosphere and quality of regulatory structures moderate the relationship between environmental risk and FDI with striking varying outcomes. Consistent with the pollution haven hypothesis, the interactions between governance effectiveness, political stability, regulatory structures and environmental risk suggest that the sub-region is attracted to risk loving speculative investors who prefer poorly regulated and weak governance environment. From policy implication, the findings imply that FDI composition in the sub-region may have moved more towards the speculative type, which may not necessarily be classified as pro-growth in nature.","PeriodicalId":106250,"journal":{"name":"Cogent Economics & Finance","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131652877","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-15DOI: 10.1080/23322039.2023.2243784
Berliana Anggun Septiani, Maman Setiawan
Abstract This research investigates the relationship between efficiency and firm growth as well as the relationship between firm growth and market structure (CR4) to evaluate whether the quiet-life (QL) and/or efficient structure (ES) hypothesis applies in the Indonesian palm oil industry. This study uses large and medium industry survey data sourced from the Indonesian Bureau of Central Statistics (BPS) for the period from 1990 to 2017. The efficiency score is calculated using data envelopment analysis (DEA) using a bootstrapping approach. The two-step generalized method of moments (GMM) and panel vector auto regression (PVAR) are used to test the two hypotheses. The results show that technical efficiency can increase a firm’s market share, market concentration, and market power. These results support the ES hypothesis. This research also finds that market structure (CR4) has an impact on firm efficiency, providing evidence supporting the QL hypothesis. These results indicate that the ES and QL hypotheses apply in Indonesia during a business cycle that needs to be considered by policymakers.
{"title":"The relationship between technical efficiency, firm growth and market structure in the Indonesian palm oil industry","authors":"Berliana Anggun Septiani, Maman Setiawan","doi":"10.1080/23322039.2023.2243784","DOIUrl":"https://doi.org/10.1080/23322039.2023.2243784","url":null,"abstract":"Abstract This research investigates the relationship between efficiency and firm growth as well as the relationship between firm growth and market structure (CR4) to evaluate whether the quiet-life (QL) and/or efficient structure (ES) hypothesis applies in the Indonesian palm oil industry. This study uses large and medium industry survey data sourced from the Indonesian Bureau of Central Statistics (BPS) for the period from 1990 to 2017. The efficiency score is calculated using data envelopment analysis (DEA) using a bootstrapping approach. The two-step generalized method of moments (GMM) and panel vector auto regression (PVAR) are used to test the two hypotheses. The results show that technical efficiency can increase a firm’s market share, market concentration, and market power. These results support the ES hypothesis. This research also finds that market structure (CR4) has an impact on firm efficiency, providing evidence supporting the QL hypothesis. These results indicate that the ES and QL hypotheses apply in Indonesia during a business cycle that needs to be considered by policymakers.","PeriodicalId":106250,"journal":{"name":"Cogent Economics & Finance","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129591459","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-15DOI: 10.1080/23322039.2023.2246318
Emmanuel Opoku Marfo, P. Kwakwa, Solomon Aboagye, Peter Ansu-Mensah
Abstract Sustainable environment offers many benefits to individuals and societies. As a result, the agenda to reduce carbon dioxide emissions in order to mitigate climate change remains a global concern. Researchers, policymakers and governments have shown interest in this regard. Empirical studies on the subject matter have been increasing conflicting results and little evidence on the effects of some variables necessitate for further studies. To offer value to the literature, in this study, the effect of female population, urbanization and trade openness on carbon dioxide emission in Ghana is assessed. The study used the Stochastic Impacts by Regression on Population, Affluence, & Technology (STIRPAT) model as the foundation for empirical modelling. Time-series data spanning from 1971–2021 were used for regression analysis. In both long run and short run periods, urbanization was noted to exert positive influence on carbon dioxide emission while trade openness and female population exert a negative effect on carbon dioxide emission. Thus, growth in urbanization increases carbon dioxide emission while the opposite effect is the case for trade openness and the female population. Findings from the study suggest the need to intensify the empowerment of women, which could be a crucial catalyst for the achievement of Ghana’s nationally determined contributions toward CO2 reduction. Also, international trade negotiations that promote environmental protection should not be relaxed.
{"title":"The role of female population, urbanization and trade openness in sustainable environment: The case of carbon dioxide emissions in Ghana","authors":"Emmanuel Opoku Marfo, P. Kwakwa, Solomon Aboagye, Peter Ansu-Mensah","doi":"10.1080/23322039.2023.2246318","DOIUrl":"https://doi.org/10.1080/23322039.2023.2246318","url":null,"abstract":"Abstract Sustainable environment offers many benefits to individuals and societies. As a result, the agenda to reduce carbon dioxide emissions in order to mitigate climate change remains a global concern. Researchers, policymakers and governments have shown interest in this regard. Empirical studies on the subject matter have been increasing conflicting results and little evidence on the effects of some variables necessitate for further studies. To offer value to the literature, in this study, the effect of female population, urbanization and trade openness on carbon dioxide emission in Ghana is assessed. The study used the Stochastic Impacts by Regression on Population, Affluence, & Technology (STIRPAT) model as the foundation for empirical modelling. Time-series data spanning from 1971–2021 were used for regression analysis. In both long run and short run periods, urbanization was noted to exert positive influence on carbon dioxide emission while trade openness and female population exert a negative effect on carbon dioxide emission. Thus, growth in urbanization increases carbon dioxide emission while the opposite effect is the case for trade openness and the female population. Findings from the study suggest the need to intensify the empowerment of women, which could be a crucial catalyst for the achievement of Ghana’s nationally determined contributions toward CO2 reduction. Also, international trade negotiations that promote environmental protection should not be relaxed.","PeriodicalId":106250,"journal":{"name":"Cogent Economics & Finance","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130577317","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-15DOI: 10.1080/23322039.2023.2245258
K. Adjei‐Mantey, Frank Adusah-Poku, P. Kwakwa
Abstract Africa continues to suffer from the effects of climate change in many ways. Records show that the continent’s carbon dioxide (CO2) emissions have seen tremendous upward adjustments over the past decades. While international tourism and renewable energy have been touted as sources of reducing CO2 emissions, the empirical evidence has been mixed, and it is also unclear how exchange rates moderate the effect of tourism on CO2 emissions. With the recent pace of tourism and renewable energy development, as well as exchange rate fluctuations in Africa, the study assesses the impact of international tourism, exchange rate, and renewable energy on CO2 emissions of seven most visited countries in Africa. Carbon dioxide emission was modelled within the Environmental Kuznets Curve (EKC) hypothesis. Regression analyses were performed using the quantile regression and fully modified OLS. Regression analysis from the fully modified OLS method shows that the EKC hypothesis holds for the selected countries; renewable energy and international tourism reduce carbon dioxide emissions; and exchange rate interacts with international tourism to reduce carbon dioxide emissions. The quantile regression shows variations in the impacts across the various quantiles. Countries in this study can rely on economic expansion, international tourism, and renewable energy to curb carbon dioxide emissions. It is recommended, among other things, that there should be the development of additional tourism locations and renewable energy adoption be scaled up as a means of reducing heavy polluting energy sources to reduce emissions emanating from the energy sector.
{"title":"International tourism, exchange rate, and renewable energy: Do they boost or burden efforts towards a low carbon economy in selected African countries?","authors":"K. Adjei‐Mantey, Frank Adusah-Poku, P. Kwakwa","doi":"10.1080/23322039.2023.2245258","DOIUrl":"https://doi.org/10.1080/23322039.2023.2245258","url":null,"abstract":"Abstract Africa continues to suffer from the effects of climate change in many ways. Records show that the continent’s carbon dioxide (CO2) emissions have seen tremendous upward adjustments over the past decades. While international tourism and renewable energy have been touted as sources of reducing CO2 emissions, the empirical evidence has been mixed, and it is also unclear how exchange rates moderate the effect of tourism on CO2 emissions. With the recent pace of tourism and renewable energy development, as well as exchange rate fluctuations in Africa, the study assesses the impact of international tourism, exchange rate, and renewable energy on CO2 emissions of seven most visited countries in Africa. Carbon dioxide emission was modelled within the Environmental Kuznets Curve (EKC) hypothesis. Regression analyses were performed using the quantile regression and fully modified OLS. Regression analysis from the fully modified OLS method shows that the EKC hypothesis holds for the selected countries; renewable energy and international tourism reduce carbon dioxide emissions; and exchange rate interacts with international tourism to reduce carbon dioxide emissions. The quantile regression shows variations in the impacts across the various quantiles. Countries in this study can rely on economic expansion, international tourism, and renewable energy to curb carbon dioxide emissions. It is recommended, among other things, that there should be the development of additional tourism locations and renewable energy adoption be scaled up as a means of reducing heavy polluting energy sources to reduce emissions emanating from the energy sector.","PeriodicalId":106250,"journal":{"name":"Cogent Economics & Finance","volume":"16 12","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121014851","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-15DOI: 10.1080/23322039.2023.2237716
Amanuel Kussia Guyalo, Lensa Tekalign Ifa
Abstract Agricultural cooperatives are considered as an institutional instrument for supporting smallholder farmers and contributing to poverty alleviation and food security. However, empirical literature and practices on the ground are mixed and inconclusive. The main purpose of this study is, therefore, to analyze the impact of agricultural cooperatives on households’ food security status in the context of Halu Woreda. The study employed a quasi-experimental research design to estimate the impact of such collective organizations on food security. Primary data were collected from 260 rural households drawn via a stratified random sampling technique. A variety of impact estimation models were employed to check the robustness of the results. The findings revealed that being a cooperative member is determined by a combination of factors, including the sex and age of the household head; access to farm inputs, credit, and training; and the welfare status of the household head. The findings also showed that agricultural cooperatives have a statistically significant positive impact on the food security status of households. It is concluded that agricultural cooperatives are effective in improving the food security status of the households in the study area. Therefore, regional rural development policy and strategy should focus on strengthening and genuinely supporting the existing agricultural cooperatives while encouraging the establishment of new ones through an inclusive approach in ways that directly address poverty and food insecurity. By highlighting the implications of the impact of agricultural cooperatives on food security, this article contributes to the ongoing debates on the potential benefits of such associations to farmers’ livelihoods in rural areas.
{"title":"Impact of agricultural cooperatives on the food security status of households in Oromia regional state, Ethiopia: The case of Halu Woreda","authors":"Amanuel Kussia Guyalo, Lensa Tekalign Ifa","doi":"10.1080/23322039.2023.2237716","DOIUrl":"https://doi.org/10.1080/23322039.2023.2237716","url":null,"abstract":"Abstract Agricultural cooperatives are considered as an institutional instrument for supporting smallholder farmers and contributing to poverty alleviation and food security. However, empirical literature and practices on the ground are mixed and inconclusive. The main purpose of this study is, therefore, to analyze the impact of agricultural cooperatives on households’ food security status in the context of Halu Woreda. The study employed a quasi-experimental research design to estimate the impact of such collective organizations on food security. Primary data were collected from 260 rural households drawn via a stratified random sampling technique. A variety of impact estimation models were employed to check the robustness of the results. The findings revealed that being a cooperative member is determined by a combination of factors, including the sex and age of the household head; access to farm inputs, credit, and training; and the welfare status of the household head. The findings also showed that agricultural cooperatives have a statistically significant positive impact on the food security status of households. It is concluded that agricultural cooperatives are effective in improving the food security status of the households in the study area. Therefore, regional rural development policy and strategy should focus on strengthening and genuinely supporting the existing agricultural cooperatives while encouraging the establishment of new ones through an inclusive approach in ways that directly address poverty and food insecurity. By highlighting the implications of the impact of agricultural cooperatives on food security, this article contributes to the ongoing debates on the potential benefits of such associations to farmers’ livelihoods in rural areas.","PeriodicalId":106250,"journal":{"name":"Cogent Economics & Finance","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134353452","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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