Work

The Impact of Economic Growth, Oil Price Change on Energy Consumption: Evidence From Selected Sub-saharan Africa Oil Exporting Countries

Year: 2025

Type: article

Abstract: This study aimed at examining, in panel context, the long run relationship between economic growth and energy consumption for selected Sub-Saharan African net oil exporting countries (Angola, Cameroon, The Republic of Congo, Equatorial Guinea, Gabon, Ghana, Nigeria and Sudan) from 1990 to 2014 by using cointegration method of Dynamic Ordinary Least Squares (DOLS) and Fully Modified Ordinary Least Squares (FMOLS). The study utilized the data obtained from world development indicators (WDI) and U.S. Energy Information Administration (EIA). The results from both DOLS and FMOLS indicate that, there exist a long run relationship between the variable of oil price and the interaction term of oil price and GDP per capita, therefore, the two variables are the factors influencing the energy consumption in the study area. Therefore, energy conservation policies for abolition or reducing energy subsidies or elimination of energy price distortions will have little or no impact on economic growth.

Source: KASU JOURNAL OF ECONOMICS AND DEVELOPMENT STUDIES

Authors: Babuga, Umar Tijjani, Saidu, M.T, Danmaraya, Isma’il Aliyu

Language: English

Topic: Energy, Environment, Economic Growth

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Decent work and economic growth, Affordable and clean energy

Open Access status: diamond

OpenAlex ID: W7219976616

FWCI:

Cites:

Cited by:

Related to: 10