Analyzing the Dynamics: Asymmetric Effects of Economic Growth, Technological Innovation, and Renewable Energy on Carbon Emissions in Africa

Abstract

This study examines the interactions among economic growth, technological innovation, renewable energy consumption, and carbon emissions in Africa using advanced econometric methods. Panel data analysis reveals both symmetric and asymmetric impacts on carbon emissions, showing how economic and technological variables contribute to environmental outcomes. The augmented mean group (AMG) and common correlated effects mean group (CCEMG) estimators address cross-sectional dependence and heterogeneity, ensuring robust results. Findings indicate that positive economic growth increases emissions, while economic downturns significantly reduce emissions. The study underscores the need for strategic policies that leverage technological innovations and renewable energy to promote sustainable development in African economies, balancing economic growth with environmental protection.