Environmental sustainability risk, institutional effectiveness and urbanization

Author:

Abaidoo Rexford1ORCID,Agyapong Elvis Kwame2

Affiliation:

1. Department of Business, Management and Accounting, University of Maryland Eastern Shore, EASC Building Room 2094, Princess Anne, MD 21875, USA

2. Ghana Institute of Management and Public Administration, GIMPA Green Hill, Achimota, Accra, Ghana

Abstract

This study examines the effect of urbanization, institutional quality and other variables on environmental sustainability risk among economies in Sub-Saharan Africa (SSA). Environmental sustainability risk is examined from three main perspectives – emission of gases inimical to the environment (CO2 emissions), exploitation of land and water resources (ecological footprint) and exploitation of resources devoid of the requisite savings and education expenditure (genuine sustainability risk). Empirical analyses were performed using the Limited Information Maximum Likelihood (LIML) Instrumental Variable estimation technique. Estimated results suggest that urbanization, population growth and increase commodity prices on the global market (for key export commodities) worsen CO2 emissions among economies in the sub-region. The results further suggest that urbanization, population growth, governance and institutional structures increase resource exploitation. Additional results suggest that institutional quality lessens adverse effect urbanization has on environmental sustainability risk (CO2 emissions) and genuine sustainability risk; but exacerbates the impact urbanization has on ecological footprint. Given these findings, this study recommends conscious efforts at improving governance and institutional structures among governments in the sub-region to lessen adverse effect of urbanization and population growth on environmental sustainability risk.

Publisher

SAGE Publications

Subject

Energy (miscellaneous),Energy Engineering and Power Technology,Renewable Energy, Sustainability and the Environment,Environmental Engineering

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