https://archive.aessweb.com/index.php/5049 Asian Economic and Social Society en-US Energy Economics Letters 2308-2925 https://archive.aessweb.com/index.php/5049/article/view/5296 <p>This study investigates relationships between energy, environmental, agricultural and macroeconomic variables for 43 countries taking also into consideration income and regional effects. The aim of this research is to investigate the overall attitude of these countries towards energy consumption, economic growth and the environment at a global level, a result that could play an important role for policy recommendations for each country under its particular characteristics. Panel data estimations techniques along with Granger causality, cointegration tests and error correction models are used to extract meaningful results from the data, while data are split based on countries’ income (High income versus Medium and Low income) and countries’ region (Africa, Asia, America and Europe). The results show that the relationships of these variables alter according to the data formation, especially under income categorization, while under regional categorization agricultural and forest variables play a dominant role in the economic activity of each region supporting also long-term relationships with energy and macroeconomic variables. These results can raise awareness for different policy recommendations on the environment, as it seems that it is important to consider the overall growth stage of the country and not just the region to which it belongs.</p> Christos Agiakloglou Michael Gkouvakis Copyright (c) 2025 2025-02-06 2025-02-06 12 1 1 16 10.55493/5049.v12i1.5296 https://archive.aessweb.com/index.php/5049/article/view/5297 <p>This study examines the Environmental Kuznets Curve (EKC) Hypothesis in Nigeria by analysing carbon dioxide emissions and ecological footprint from 1991 to 2022. Using the autoregressive distributed lag (ARDL) bounds test for cointegration and the Toda-Yamamoto causality approach, findings reveal a positive correlation between economic growth and both CO₂ emissions and ecological footprint, indicating that environmental impacts rise with economic growth. An inverted U-shaped relationship is observed between economic growth and CO₂ emissions, suggesting a threshold beyond which further growth could reduce emissions. Financial development, trade openness, and urbanization significantly influence CO₂ emissions and ecological footprint, underscoring the need for sustainable policies. Key recommendations include promoting sustainable urbanization, encouraging green investments through financial regulations, monitoring trade activities, and incentivizing renewable energy adoption. Utilizing green financial products like Sukuk for funding priority infrastructure projects could enhance renewable energy use, environmental sustainability, and financial sector growth in Nigeria. These findings emphasize the urgency for policy interventions to align economic growth with environmental sustainability, ensuring a balanced approach to development while mitigating adverse ecological impacts.</p> Yusuf Shamsuddeen Nadabo Suleiman Maigari Salisu Copyright (c) 2025 2025-02-06 2025-02-06 12 1 17 33 10.55493/5049.v12i1.5297