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Investigating the link between economic growth, financial development, urbanization, natural resources, human capital, trade openness and ecological footprint: evidence from Nigeria

Journal of bioeconomics, 2022-07, Vol.24 (2), p.153-179 [Peer Reviewed Journal]

The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2022. Springer Nature or its licensor (e.g. a society or other partner) holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law. ;The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2022. ;ISSN: 1387-6996 ;EISSN: 1573-6989 ;DOI: 10.1007/s10818-021-09323-x

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Title:
Investigating the link between economic growth, financial development, urbanization, natural resources, human capital, trade openness and ecological footprint: evidence from Nigeria
Author: Dada, James Temitope ; Adeiza, Adams ; Ismail, Noor Azizi ; Marina, Arnaut
Subjects: Behavioral Sciences ; Causality ; Developing countries ; Economic development ; Economic growth ; Economic Theory/Quantitative Economics/Mathematical Methods ; Economics ; Economics and Finance ; Environmental degradation ; Environmental Economics ; Environmental quality ; Footprint analysis ; Foreign investment ; Human capital ; Impact analysis ; Law and Economics ; LDCs ; Natural resources ; Political Science ; Sustainability ; Trade ; Urbanization
Is Part Of: Journal of bioeconomics, 2022-07, Vol.24 (2), p.153-179
Description: Driven by the increasing level of environmental degradation in developing countries, especially Nigeria, and the conflicting empirical results, this study investigates the impact of economic growth, natural resources, urbanization, human capital, financial development, foreign direct investment, and trade openness on the ecological footprint (EFP) in Nigeria between 1970 and 2017. The study accounts for structural breaks in the data using the Zivot–Andrews unit root method along with other conventional unit root tests. Autoregressive Distributive Lag (ARDL) and Granger causality estimation techniques are used to determine the short- and long-run effect as well as the causal direction between the variables. The outcomes of the study suggest that economic growth, foreign direct investment, and trade openness contribute positively to EFP, hence worsening environmental quality. However, urbanization, financial development, natural resources, and human capital abate the EFP in Nigeria. The findings from the granger causality test reveal a unidirectional causality from economic growth, foreign direct investment, and trade openness to EFP; while bidirectional causality exists between natural resources and EFP; and urbanization and EFP. The results are robust to different estimation techniques. Lastly, measures to ensure environmental sustainability in the context of Nigeria are suggested.
Publisher: New York: Springer US
Language: English
Identifier: ISSN: 1387-6996
EISSN: 1573-6989
DOI: 10.1007/s10818-021-09323-x
Source: ProQuest One Psychology
AUTh Library subscriptions: ProQuest Central

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Investigating the link between economic growth, financial development, urbanization, natural resources, human capital, trade openness and ecological footprint: evidence from Nigeria

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