African Journal of Economic and Sustainable Development
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African J. of Economic and Sustainable Development (3 papers in press)
Choice of Environmental Policy Instruments and Welfare in Middle-income countries: the case of Cote dIvoire by Boka Assa, Zie Ballo, Mbaye Diene Abstract: The purpose of this paper is to determine among pollution taxes, rules and a combination of taxes-rules instruments, one that allows increasing welfare in middle-income countries (MICs) that face economic and environmental shocks. To do this, we used a micro-founded dynamic stochastic general equilibrium (DSGE) model whose parameters are estimated on the Ivoirian economy by the Bayesian method. The results of welfare comparison under three regimes show on the one hand that when public abatement spending is effective, welfare under pollution taxes are higher than pure rules if shocks are strong. But when rules are combined with output taxes for public clearance spending (mixed instrument), welfare under mixed instrument become better than pollution taxes regardless of the type of shock. On the other hand, when the government intervention is inefficient, welfare under pollution taxes are almost equivalent to pure rules but remain lower than the mixed instrument. Our findings suggest that rules combined with output taxes for public clearance spending are appropriate to deal with the economic and environmental shocks in MICs. Keywords: Middle-income countries; environmental policy instruments; general equilibrium; shock.
Positive and Negative Impacts of Natural Gas Consumption on Economic Growth in Nigeria: A Nonlinear ARDL Approach by Mukhtar Danladi Galadima, Abubakar Wambai Aminu Abstract: The paper has examined positive and negative effects of natural gas on economic growth in Nigeria using Nonlinear Autoregressive Distributed Lag (NARDL) model. The findings revealed that the negative and positive impacts of natural gas consumption on economic growth are asymmetric in the long run whereas in the short run such evidence has not been found. However, in the long run, the positive impact is 0.15% per 1% increase while the negative impact is insignificant. The implication of the results is that an increase in natural gas consumption can stimulate growth in the long run and, energy efficiency / energy saving policies is not a limiting factor to growth, thus, it does not engender a fall in the rate of economic growth. Therefore, the paper recommends that authorities of the Nigerias economy boost the domestic demand for natural gas, and chart out energy efficiency strategies such as using a light-emitting diode (LED) light bulb or a compact florescent light (CFL) bulb that requires less energy than an incandescent light bulb, and water booster heaters. This way, sustainable economic growth, curbing the issue of global warming and, minimizing costs of energy consumption can be achieved. Keywords: Non-linear ARDL; Natural Gas Consumption; Economic Growth.
Effect of Credit Supply Constraint on Labor Productivity in sub-Saharan Africa by Kwame Acheampong Abstract: This paper investigates the effect of credit supply constraint of risk on labor productivity in 33 sub-Saharan Africa (SSA) countries spanning 1990-2013. It estimates the long run effect of credit supply constraints on labor productivity using the Pooled Mean Group (PMG) estimator. The results revealed that a reduction in both actual and expected risk premiums increased labor productivity in SSA. This findings suggest that in order to relax the credit supply constraints with the intent to improving labor productivity, domestic interest rate should account for changes in foreign interest rate to enhance the needed capital inflows.
Keywords: productivity; credit; risk; interest-rate.
JEL: F65. F66. G11.