BEYOND ENERGY: THE ROLE OF COLONIAL LEGACY IN THE EFFECT OF INSTITUTIONAL QUALITY ON RENEWABLE ENERGY CONSUMPTION IN WEST AFRICA
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Date
2024-12
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Department of Accounting and Finance, Faculty of Management and Social Sciences, Kwara State University, Malete
Abstract
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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Citation
Biala, M. I and Aromasodun, O. M. (2024). Beyond Energy: The Role of Colonial Legacy in the Effect of Institutional Quality on Renewable Energy Consumption in West Africa. Malete Journal of Accounting and Finance, 5 (1), 307-319