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Achieving carbon neutrality in West Africa: The impact of financial development and good governance

Achieving a net zero carbon has been one of the main agendas for all state and non-state actors. The political system of developing countries sometimes makes both internal and external actors question their efforts toward the agenda. Therefore, this study contributes to previous literature in analyz...

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Autores principales: Gyimah, Justice, Nwigwe, Ujunwa Angela, Safi, Deborah Rubuye, Opoku, Erica Odwira, Yao, Xilong
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Public Library of Science 2023
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10602346/
https://www.ncbi.nlm.nih.gov/pubmed/37883376
http://dx.doi.org/10.1371/journal.pone.0293235
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author Gyimah, Justice
Nwigwe, Ujunwa Angela
Safi, Deborah Rubuye
Opoku, Erica Odwira
Yao, Xilong
author_facet Gyimah, Justice
Nwigwe, Ujunwa Angela
Safi, Deborah Rubuye
Opoku, Erica Odwira
Yao, Xilong
author_sort Gyimah, Justice
collection PubMed
description Achieving a net zero carbon has been one of the main agendas for all state and non-state actors. The political system of developing countries sometimes makes both internal and external actors question their efforts toward the agenda. Therefore, this study contributes to previous literature in analyzing the empirical effect of financial development and governance quality on carbon emissions. The study covers sixteen West African countries with data from 1996 to 2021. The study employs the Generalized Method of Moments for the analysis. Financial development in all the models contributes to carbon emissions. However, the effect of governance quality indicators varies depending on the model and the indicator(s) used. Nevertheless, economic governance and political governance in most models contribute to environmental pollution, but institutional governance helps promote environmental quality. Renewable energy and economic growth promote environmental quality through carbon mitigation. However, trade openness promotes environmental pollution by encouraging the release of carbon emissions. Finally, relevant policy implications are proposed based on the empirical findings of the study.
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spelling pubmed-106023462023-10-27 Achieving carbon neutrality in West Africa: The impact of financial development and good governance Gyimah, Justice Nwigwe, Ujunwa Angela Safi, Deborah Rubuye Opoku, Erica Odwira Yao, Xilong PLoS One Research Article Achieving a net zero carbon has been one of the main agendas for all state and non-state actors. The political system of developing countries sometimes makes both internal and external actors question their efforts toward the agenda. Therefore, this study contributes to previous literature in analyzing the empirical effect of financial development and governance quality on carbon emissions. The study covers sixteen West African countries with data from 1996 to 2021. The study employs the Generalized Method of Moments for the analysis. Financial development in all the models contributes to carbon emissions. However, the effect of governance quality indicators varies depending on the model and the indicator(s) used. Nevertheless, economic governance and political governance in most models contribute to environmental pollution, but institutional governance helps promote environmental quality. Renewable energy and economic growth promote environmental quality through carbon mitigation. However, trade openness promotes environmental pollution by encouraging the release of carbon emissions. Finally, relevant policy implications are proposed based on the empirical findings of the study. Public Library of Science 2023-10-26 /pmc/articles/PMC10602346/ /pubmed/37883376 http://dx.doi.org/10.1371/journal.pone.0293235 Text en © 2023 Gyimah et al https://creativecommons.org/licenses/by/4.0/This is an open access article distributed under the terms of the Creative Commons Attribution License (https://creativecommons.org/licenses/by/4.0/) , which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
spellingShingle Research Article
Gyimah, Justice
Nwigwe, Ujunwa Angela
Safi, Deborah Rubuye
Opoku, Erica Odwira
Yao, Xilong
Achieving carbon neutrality in West Africa: The impact of financial development and good governance
title Achieving carbon neutrality in West Africa: The impact of financial development and good governance
title_full Achieving carbon neutrality in West Africa: The impact of financial development and good governance
title_fullStr Achieving carbon neutrality in West Africa: The impact of financial development and good governance
title_full_unstemmed Achieving carbon neutrality in West Africa: The impact of financial development and good governance
title_short Achieving carbon neutrality in West Africa: The impact of financial development and good governance
title_sort achieving carbon neutrality in west africa: the impact of financial development and good governance
topic Research Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10602346/
https://www.ncbi.nlm.nih.gov/pubmed/37883376
http://dx.doi.org/10.1371/journal.pone.0293235
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