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Does Energy Resources Spending Mitigate Adverse Effects of CO2 Emissions from Oil Exploration in Africa?

In: Poverty and Well-Being in East Africa

Author

Listed:
  • Olufemi Muibi Saibu

    (University of Lagos)

  • Akinwande A. Atanda

    (University of Canterbury)

Abstract

This paper examines the effects of energy resources and carbon emissions on human welfare in selected African countries. The study specifies a neoclassical growth model augmented with energy inputs and crude oil carbon monoxide emissions. The results indicate that changes in crude oil consumption (COC), crude oil revenues (CORs), and oil price depreciation exchange rates have significantly and positively affected the development of human welfare and that carbon monoxide emissions have a significantly negative effect on human welfare development in Africa. These have also significantly deteriorated income inequalities in the continent. However, the net effects of oil exploration are significantly higher which have overwhelmed the negative effects of crude oil gas emissions, thus suggesting that effective use of revenue from oil resources and productivity could help in mitigating the negative effects of oil carbon emissions on human development and welfare in Africa. In addition, the results support the argument of the negative relationship between CO2 emissions and human welfare development as against the Environmental Kuznet’s Curve (EKC) hypothesis.

Suggested Citation

  • Olufemi Muibi Saibu & Akinwande A. Atanda, 2016. "Does Energy Resources Spending Mitigate Adverse Effects of CO2 Emissions from Oil Exploration in Africa?," Economic Studies in Inequality, Social Exclusion, and Well-Being, in: Almas Heshmati (ed.), Poverty and Well-Being in East Africa, chapter 0, pages 267-281, Springer.
    • Handle: RePEc:spr:esichp:978-3-319-30981-1_12
    DOI: 10.1007/978-3-319-30981-1_12
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