GREEN ECONOMY AND FISCAL POLICY IN DEVELOPING ECONOMY: EVIDENCE FROM NIGERIA – Caleb University Journal

GREEN ECONOMY AND FISCAL POLICY IN DEVELOPING ECONOMY: EVIDENCE FROM NIGERIA

Publication Date : 13/06/2024

DOI: doi.org/10.26772/cijds-2024-07-01-05


Author(s) :

Ikubor, Jude Ofili, Imide, Isreal Onokero, Yusuf, Mary Abdul, Ogbonna, Evan, Ojih, Abraham Umola, Ogwuche, A.S .


Volume/Issue :
Volume 7
,
Issue 1
(06 - 2024)



Abstract :

The study used data from Nigeria to investigate how the green economy affects fiscal policy in developing economies. Specific objectives are to assess the impact of green transportation on job development in developing economies: Evidence from Nigeria and investigate the relationship between renewable energy and employment creation. For the study, a research design was used. The study structured questionnaire as its primary data source. The questionnaire was created using a five-point Likert scale. Tables, chisquare and basic percentages, were used to show and analyze the acquired data. The study's findings show that, at the 5% level of significance, renewable energy has a considerable impact on the creation of jobs in emerging economies. Nigeria provides evidence for this, with a mean score of 3.88, a standard deviation of.0319, a χ2 of 18.07, and a P-value of 0.025. Additionally, there is evidence from Nigeria that shows a significant impact of green transportation on job creation in developing economies [Mean = 3.811; Std. Dev =.916; χ2 = 12.44; p-value = 0.031]. The study reveals that the green economy significantly improves fiscal policy in emerging nations like Nigeria. Given that the development of jobs in developing nations may not be exclusively driven by renewable energy and environmentally friendly transportation, the study urged looking into a variety of employment strategies. Investments in areas critical to economic diversification, such as agribusiness and small and medium-sized businesses (SMEs), could have a more immediate and direct effect on employment and should be taken into consideration by policymakers.


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