FDI inflows, energy consumption and sustainable economic growth for ECOWAS countries: the pollution haven hypothesis approach Online publication date: Wed, 20-Jan-2021
by Ahmed Malumfashi Halliru; Nanthakumar Loganathan; Narayan Sethi; Asan Ali Golam Hassan
International Journal of Green Economics (IJGE), Vol. 14, No. 4, 2020
Abstract: This study examined the pollution haven hypothesis for CO2 emissions and ecological footprint with the role of sustainable economic growth, energy consumption, human capital and bio-capacity in six ECOWAS countries using data spanning over 1970 until 2017. Employing a Pooled Mean Group (PMG) technique, the empirical results support the pollution halo hypothesis for CO2 emissions and Pollution Haven Hypothesis (PHH) for ecological footprint. Furthermore, we found evidence of inverted U-shaped pattern of CO2 emissions, which validate the EKC hypothesis, but a U-shaped relationship was found for ecological footprint as indicators of environmental degradation. A unidirectional causal link exists between FDI and CO2 emissions, but a feedback hypothesis is validated between FDI and ecological footprint. The policy implications are that environmentally friendly FDI should be prioritised to achieve a sustainable environment via developing renewable energy.
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