The main topic of this study provides a comprehensive analysis of the relationship between FD, REC, EG, and ED in Sudan, a context that has been underexplored in existing literature. By employing the LCF as an indicator, this research offers a more nuanced understanding of environmental sustainability, extending beyond traditional measures such as CO2 emissions and EF. The findings will have significant implications for formulating effective environmental policies in Sudan, contributing to the broader discourse on sustainable development in low-income countries.
The primary aim of this study is to investigate how FD, REC, and EG affect environmental sustainability in Sudan using LCF as the primary indicator. The fundamental energy sources in Sudan are fossil fuels, geothermal, and hydroelectricity. When examining the fuel shares of electricity generation in 2021, hydro energy ranks first with 51%, and fossil energy ranks second with 47%. In line with this objective, this research attempts to reach to answer the following questions with the help of an ARDL based bounds test with Sudanese data for the period 1990–2018:
The rest of the parts of the paper are categorized into the following groups: The second section offers a comprehensive analysis of the literature. In the third part, the data and methodology are covered. The debate and conclusion are presented in the last part.
The interaction between EG, REC, FD, and ED is significant. The impact of EG on the environment has been a key focus of research for many years. On the other hand, renewable energy sources such as solar, wind, hydro, and biomass offer cleaner alternatives that enhance EQ and thereby support sustainable economic growth. Additionally, promoting financial regulations and policies, and investing in sustainable projects and green technologies can further encourage environmental sustainability.
In summary, the relationship between EG and ED has been widely studied in environmental economics, and Grossman and Krueger''s three-stage framework has been influential in this field. Still, more studies are required to determine the relationship between income and LCF in Sudan. Studies in other countries have explored this connection and focused on ED. However, studies on Sudan are limited, and developing effective policies and interventions to solve environmental challenges is essential.
In this paper, the ARDL model is investigated to assess the impacts of the GDP and the per capita GDP, and it expresses the EG, bank loans given to the private sector, and REC on LCF as an EQ proxy in the long-run. The ARDL methodology comprises two crucial phases: first, the examination of stationarity, and second, the analysis of cointegration.
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