A multivariate analysis of carbon dioxide emissions, electricity consumption, economic growth, financial development, industrialization, and urbanization in Senegal

Samuel Asumadu-Sarkodie*, Phebe Asantewaa Owusu

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

41 Citations (Scopus)

Abstract

In this study, a multivariate analysis of carbon dioxide emissions, electricity consumption, economic growth, financial development, industrialization, and urbanization was performed in Senegal using the nonlinear iterative partial least squares (NIPALS) regression during the period 1980–2011. There was evidence of a linear relationship between the variables using the linear regression analysis. However, the explanatory variables exhibited a strong collinearity, which led to using the NIPALS regression analysis. Evidence from the standardized regression coefficient shows that a 1% increase in financial development, electricity consumption, and industrialization will increase carbon dioxide emissions by 0.7%, 0.4%, and 0.1%, respectively, while a 1% increase in urbanization and economic growth will decrease carbon dioxide emissions by 0.2% and 0.1%, respectively.

Original languageEnglish
Pages (from-to)77-84
Number of pages8
JournalEnergy Sources, Part B: Economics, Planning and Policy
Volume12
Issue number1
DOIs
Publication statusPublished - 2 Jan 2017
Externally publishedYes

Keywords

  • Carbon dioxide emissions
  • econometrics
  • energy economics
  • NIPALS
  • Senegal

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