Yunana Zumba - Academia.edu (original) (raw)

Papers by Yunana Zumba

The debate on the possibility of economic growth improving the quality of the environment has yet... more The debate on the possibility of economic growth improving the quality of the environment has yet to reach a consensus. To contribute to this debate, we investigate the validity of the Environmental Kuznets Curve (EKC) hypothesis for oil-producing countries in Africa based on annual data from 1991 to 2019. We also examine the causal relationship between environmental quality and economic growth. The panel autoregressive distribution lag (PARDL) technique and the Granger non-causality test were employed. The findings show evidence of an inverted U-shaped relationship between economic growth and environmental quality in the long run, indicating the validity of the EKC hypothesis. It was also observed that energy prices exert strong, deteriorating effects on the environment in the short run. In the long run, renewable energy consumption and energy prices significantly improve the quality of the environment. The Granger causality test results demonstrate a unidirectional causality from environmental quality to economic growth. It was concluded that policies aimed at improving environmental quality in these countries could be beneficial in the short run. In the long run, these policies will prove beneficial only when economic growth is at a level where the quality of the environment is declining, since economic growth improves environmental quality. Contribution/Originality: This study contributes to the literature by exploring the potential of economic growth to address environmental degradation in Africa's oil-producing countries in the short and long runs. In addition, it offers insights into the causal relationship between economic growth and environmental degradation in these countries.

Macroeconomics and Finance in Emerging Market Economies, Jan 17, 2022

We examine the long and short run impact of lending and deposit interest rates on exchange rate i... more We examine the long and short run impact of lending and deposit interest rates on exchange rate in Nigeria using the Autoregressive Distributed Lag (ARDL) model and annual data for the period 1981-2018. In Nigeria, there are two lending rates, i.e., prime and maximum lending rates, thus, we carry out robustness check to find out if the two interest rates have different impact on exchange rate in Nigeria. The result indicates that the relationship between lending interest and exchange rates in Nigeria is not sensitive to the type of lending interest rate used. Our findings reveal that increase in lending rate causes the Naira to depreciate significantly; making other currencies to be expensive against the Naira. However, we find that increase in deposit interest rate insignificantly appreciates the Naira against other currencies. Furthermore, we establish a negative significant relationship between GDP and exchange rate and a positive significant association between money supply and ...

International Journal of Ambient Energy

American Scientific Research Journal for Engineering, Technology, and Sciences, 2019

We use annual data for the period 1995-2017 to examine the impact of consumption of households, e... more We use annual data for the period 1995-2017 to examine the impact of consumption of households, exchange rate and oil price on inflation in the Organization of Petroleum Exporting Countries (OPEC). We utilize full sample size – all the OPEC member countries for the study and panel Autoregressive Distributed Lag (ARDL) model. The Mean Group (MG) and the Pooled Mean Group (PMG) were used to estimate the panel ARDL model, after which we choose the efficient estimator. Brent oil price is used for the main estimation, afterwards, we carry out robustness check using WTI oil price. Our evidence establishes that the estimates are not sensitive to the oil price used. Besides, our findings reveal that oil price and exchange rate are not major determinants of inflation in the short run. Also, we find final demand for goods and services (households’ consumption) to be weak in promoting inflation in both the short and long run. In the long run however, oil price and exchange rate are key factor...

Scientific Research Journal, 2019

We model the nexus between tourism and economic growth in Africa using annual data that runs from... more We model the nexus between tourism and economic growth in Africa using annual data that runs from 1995-2016 for 48 African countries. We approach the study in two waysall the selected African countries and each of the five regions of the continent distinctly. Symmetric panel Autoregressive Distributed Lag (ARDL) and Granger non-causality test were utilized for the study. Our empirical evidence affirms that tourism is indispensable for growth in Africa, Eastern, Northern, Southern and Western Africa in the long run. In the short run, tourism contributes insignificantly to growth in Central, Northern, Southern and Western Africa but insignificantly reduces growth in Africa and Eastern Africa. We observe an evidence of bidirectional causality between tourism and economic growth in Africa, Central, Eastern and Northern Africa, a unidirectional causality from growth to tourism in West Africa and from tourism to growth in Northern Africa. We therefore conclude that tourism drives economic growth in Africa.

Scientific Research Journal, 2019

We model the nexus between tourism and economic growth in Africa using annual data that runs from... more We model the nexus between tourism and economic growth in Africa using annual data that runs from 1995-2016 for 48 African countries. We approach the study in two ways – all the selected African countries and each of the five regions of the continent distinctly. Symmetric panel Autoregressive Distributed Lag (ARDL) and Granger non-causality test were utilized for the study. Our empirical evidence affirms that tourism is indispensable for growth in Africa, Eastern, Northern, Southern and Western Africa in the long run. In the short run, tourism contributes insignificantly to growth in Central, Northern, Southern and Western Africa but insignificantly reduces growth in Africa and Eastern Africa. We observe an evidence of bidirectional causality between tourism and economic growth in Africa, Central, Eastern and Northern Africa, a unidirectional causality from growth to tourism in West Africa and from tourism to growth in Northern Africa. We therefore conclude that tourism drives econo...

Macroeconomics and Finance in Emerging Market Economies, Jan 17, 2022

International Journal of Ambient Energy

American Scientific Research Journal for Engineering, Technology, and Sciences, 2019

Scientific Research Journal, 2019

We model the nexus between tourism and economic growth in Africa using annual data that runs from... more We model the nexus between tourism and economic growth in Africa using annual data that runs from 1995-2016 for 48 African countries. We approach the study in two ways – all the selected African countries and each of the five regions of the continent distinctly. Symmetric panel Autoregressive Distributed Lag (ARDL) and Granger non-causality test were utilized for the study. Our empirical evidence affirms that tourism is indispensable for growth in Africa, Eastern, Northern, Southern and Western Africa in the long run. In the short run, tourism contributes insignificantly to growth in Central, Northern, Southern and Western Africa but insignificantly reduces growth in Africa and Eastern Africa. We observe an evidence of bidirectional causality between tourism and economic growth in Africa, Central, Eastern and Northern Africa, a unidirectional causality from growth to tourism in West Africa and from tourism to growth in Northern Africa. We therefore conclude that tourism drives econo...