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    Economic and Environmental Impacts of Alternative Energy Sources on Oil Exporting Countries: an Empirical Application on African Countries
    (Sosyal Bilimleri Enstitüsü, 2023) Onifade, Stephen Taiwo; Erdoğan, Savaş
    Considering Africa’s long standing historical experience with socioeconomic challenges over the years, most governments and policymakers are mainly concerned about strategy to stimulate economic growth and stability. However, the growing environmental disasters across the continent in recent times calls for prompt actions in view of Africa’s susceptibility to climate change. As such, this thesis assesses the environmental impacts of the energy mix of mainly oil-producing African nations while reviewing the economic aspects of the decarbonization prospects from the perspectives of fossil energy dependence among the countries. The research also examines the illustrious Environmental Kuznets Curve (EKC) hypothesis in different frameworks of fossil energy resources abundance among the countries using a combination of econometric and analytical tools such as quantile regression (QR) approach, dynamic ordinary least square (DOLS), fully modified ordinary least square (DOLS), and the augmented mean group (AMG) among others. Empirical analyses were in three sub-groups. The first group examines the nexus of environmental pollution and energy dynamics in a globalized world. The second analysis focuses on the nexus of environmental degradation and urbanization in an ecological footprint framework. The third examines the nexus of environmental pollution with energy resources abundance in a sectoral composition framework. The two main convergence points in the three sub-categories of analysis are the usage of oil-producing African states and the exploration of the EKC hypothesis while minimal divergence points exist in the individual sample sizes and methodological procedures. From the simulations, only renewable energy use proved to be a significant decarbonization tool while the consequences of the trio of fossil fuel consumption, income growth, and globalization are diametrically opposed to achieving decarbonization. Furthermore, urbanization is inimical to environmental sustainability as urban sprawl significantly acts as a pollutant-inducing tool. Overall, the EKC conjecture does not hold convincingly since its validity significantly varies across the three sub-groups of analysis. Therefore, to foster environmental sustainability via decarbonization and to further promote the actualization of SDGs 12&13 and SDGs 1&8 among the countries, the iii research recommends energy portfolios diversification alongside economic diversification and green urban infrastructural investments to address the undesirable environmental impacts of fossil energy consumption and forestall the economic demerits of resource dependency in the event of energy transition away from fossil fuels.