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AN INVESTIGATION OF THE NEXUS BETWEEN CLIMATE CHANGE AND ECONOMIC GROWTH IN SUB–SAHARA AFRICA: EVIDENCE FROM NIGERIA
Abstract
Climate change influences economic growth through different channels such as the ecosystem, human health, food availability, agricultural production, employment as well as general trends in both economic and social activities that impact on economic growth. This research empirically examined the relationship between climate change and economic growth in subSaharan Africa, using Nigeria as case study. It employed time series data extracted from World Development Indicators of the World Bank from 1970-2015, a period of 46 years. The Vector Autoregressive modeling approach was adopted in analyzing the data. The empirical results revealed that, both carbon dioxide emissions and nitrous oxide emissions in their 1period lag as well as methane emissions and inflation rate in their 2period lags simultaneously had negative impacts on economic development in Nigeria. Also, carbon dioxide emissions and inflation rate made high impacts in the third year, while nitrous oxide emissions, methane emissions and total greenhouse gas emissions recorded their highest contributions to the total shocks in real Gross Domestic per capita in the twenty fifth year. Based on these findings, the study recommends that efforts should be channeled towards putting in place and enforcing policies that reduce industrial gas emissions minimizing flaring and other pollutants arising from industrial, oil and gas and other human activities that contribute to the devastating effects of climate change.
Keywords: Climate Change, Economic Growth, Sub-Saharan Africa, Nigeria.