Energy Environment and Economic Studies (EEES) is an international peer-reviewed journal dedicated to advancing research at the intersection of energy economics, environmental economics, and sustainable development. The journal aims to provide a scholarly platform for high-quality theoretical, empirical, and policy-oriented studies that examine the complex relationships between energy systems, environmental sustainability, and economic development. ISSN: 3149-8477
Towards Sustainable Economic Growth in Africa: The Role of Financial Development and Energy Transition Policies
This study examined the nexus between financial development, energy transition policies, and economic growth in Africa over the period 2000–2024. The study was motivated by the growing need to understand how financial sector development and the transition toward sustainable energy systems contribute to economic growth across African economies. Secondary data were obtained from reputable international databases and analysed using advanced panel econometric techniques to evaluate both the individual and combined effects of financial development indicators, energy transition measures, and selected macroeconomic control variables on economic growth. The findings reveal that financial development significantly promotes economic growth through improved capital market efficiency, enhanced liquidity, and stronger stock market mechanisms. However, domestic credit to the private sector was found to exert a negative effect on growth when credit allocation is inefficient and directed toward unproductive sectors. The results further show that renewable energy consumption positively and significantly influences economic growth, indicating that energy transition policies are not only environmentally desirable but also economically beneficial. In contrast, energy intensity exhibited relatively weak effects, suggesting that many African economies still face structural constraints in achieving substantial energy efficiency gains. Additionally, population growth and exchange rate fluctuations were found to influence economic performance, underscoring the importance of macroeconomic stability in sustaining growth outcomes. The study concludes that financial development and energy transition policies are complementary drivers of economic growth in Africa. Therefore, policymakers should adopt integrated frameworks that strengthen financial intermediation, promote renewable energy investments, improve energy efficiency, and maintain macroeconomic stability. Such coordinated strategies are essential for achieving inclusive, resilient, and sustainable economic growth across the African continent.
Copyright (c) 2026 Energy Environment and Economic Studies https://creativecommons.org/licenses/by-nc-nd/4.0
Revisiting the Inflation–FDI Nexus in Nigeria: Long-Run and Short-Run Evidence from Multiple Price Indicators
This study examines the relationship between inflation and foreign direct investment (FDI) inflows in Nigeria over the period 1990–2024, employing the autoregressive distributed lag (ARDL) modelling framework. The analysis establishes a stable long-run relationship between inflation dynamics and FDI, confirming that macroeconomic conditions exert a persistent influence on foreign investors’ decisions. The empirical results reveal that inflation has a negative and statistically significant effect on FDI in the long run, indicating that sustained price instability undermines investor confidence by eroding real returns and increasing uncertainty. In contrast, price indicators associated with productive economic activity, including production-side price movements and broader output expansion, exhibit positive relationships with FDI, suggesting that inflation driven by real-sector growth may signal profitable investment opportunities. Exchange rate behaviour contributes positively, though modestly, highlighting the importance of relative currency stability in enhancing Nigeria’s investment attractiveness. The error-correction mechanism indicates a meaningful speed of adjustment toward long-run equilibrium, underscoring the model's dynamic consistency. Short-run results show that inflation exerts a limited immediate influence on FDI, implying that foreign investors respond more strongly to persistent inflationary trends than to transitory shocks. The findings emphasise that credible inflation control, stable exchange rate management, and disciplined macroeconomic policies are central to sustaining long-term foreign capital inflows. The study concludes that improving Nigeria’s FDI performance requires prioritising price stability, strengthening monetary policy credibility, and ensuring that economic growth is driven by productivity-enhancing structural reforms rather than inflationary pressures.
Copyright (c) 2026 Kenechukwu K. Ede, Charles O. Manasseh, Sidi W. Onoja, Cajetan C. Anuforo, Nkechi C. Nkwonta, Obiageli G. Akamobi https://creativecommons.org/licenses/by-nc-nd/4.0