Browsing by Author "Musa Ilias Biala"

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    BEYOND ENERGY: THE ROLE OF COLONIAL LEGACY IN THE EFFECT OF INSTITUTIONAL QUALITY ON RENEWABLE ENERGY CONSUMPTION IN WEST AFRICA
    (Department of Accounting and Finance, Faculty of Management and Social Sciences, Kwara State University, Malete, 2024-12) Musa Ilias Biala; Ololade Mistura Aromasodun
    A stable institutional framework and colonial legacy are essential for ensuring environmental quality and economic growth. However, recent studies have overlooked these critical factors despite their significance. This study, therefore, explored the impact of institutional quality on renewable energy consumption in West Africa from 1990 to 2023 with a novel incorporation of the influence of colonial legacy. Using data from the World Bank’s World Development Indicator, this study utilised the Pooled Mean Group technique. The study found that in the long run, GDP per capita, carbon dioxide emissions and urbanisation had a significant negative impact on renewable energy consumption whereas technology, institutional quality, and the interaction of institution with colonial legacy had a significant positive impact on renewable energy consumption. To achieve sustainable development, the study recommends that policy makers prioritise institutional stability while leveraging technological advancements to promote renewable energy production. Policymakers and international organisations should consider the unique historical and institutional context of West African countries while designing renewable energy policies and programmes. Keywords: Renewable energy, institutional quality, energy economics, colonial legacy. JEL Codes: Q42, D02, Q43, N40
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    Energy-Growth Nexus: A Systematic Review of Empirical Evidence and Policy Implications
    (African Journal of Environmental Sciences & Renewable Energy, 2025-04-16) Ololade Mistura Aromasodun; Musa Ilias Biala; Abdul Muftah Shitu
    The relationships between energy consumption and economic growth have been extensively studied in the economic and energy literature, yet empirical findings remain inconclusive. This systematic review examines the existing theoretical and empirical research on the energy-growth nexus, analyzing studies from developed and developing economies. The review explores four primary hypotheses: the growth hypothesis (energy consumption drives economic expansion), the conservation hypothesis (economic growth influences energy demand), the feedback hypothesis (a bidirectional relationship), and the neutrality hypothesis (no causal relationship). Findings indicate that the energy-growth relationship varies across countries depending on factors such as income levels, energy mix, and methodological approaches. Developed economies tend to exhibit a shift toward energy efficiency and the conservation hypothesis, while developing economies largely support the growth hypothesis, highlighting their dependency on energy for industrialization. The increasing role of renewable energy in sustaining economic growth is also examined, with evidence suggesting that while renewable investments support long-term economic sustainability, short-term transition challenges exist. The review underscores the need for balanced energy policies, renewable energy investment, and technological innovations to ensure sustainable economic growth while minimizing environmental impact. Future research should focus on regional-specific dynamics, the role of institutional factors, and the implications of climate policies on the energy-growth relationship.
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    Trade Liberalization and Economic Growth in Nigeria; A cointegration Analysis
    (2013) Olaifa, Felix Gbenga; Kolawole Subair; Musa Ilias Biala
    Trade liberalization is one of the most controversial policies in international economics and finance. Copious of arguments have been put forward about if free trade and reduction of trade barriers will help the economy or not. Those in favour of the policy believe that it can stimulate economic growth of African economies while others maintained that trade liberalization may not provide positive contribution to long run growth of African economies. This study adopts the ordinary least squares in estimating the influence of trade liberalization on economic growth in Nigeria between1970 and 2012 with a view to examining whether a long term relationship exists between the two and also to check for structural change that may have occurred with the implementation of a free trade regime in 1986.Trade liberalization was conceived as openness and proxied as the ratio of total trade to GDP. Time series data sourced from the World Development indicator (WDI) of the World Bank and the Central Bank of Nigeria (CBN) statistical bulletin and annual reports were analysed. Result shows that liberalization supports economic growth in Nigeria with an evidence of a long run relationship. Strong evidence was found to support a structural change taking place in 1986 with the adoption of free trade policy. However export was reported to be negatively related to growth. The study concluded by recommending that an enabling environment that will engender further growth such as better infrastructural base, adequate financing support adherence to international best practice in export and sound institutional structure be put in place for sustainability. KEYWORDS Openness, trade liberalization, economic growth and structural change.
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    TRADE LIBERALIZATION AND ECONOMIC GROWTH IN NIGERIA; A COINTEGRATION ANALYSIS
    (2013) Musa Ilias Biala
    TRADE LIBERALIZATION AND ECONOMIC GROWTH IN NIGERIA; A COINTEGRATION ANALYSIS