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As financial markets for environmentally friendly investment grow in both scope and size, analyzing the relationship between green financial markets and African stocks becomes an important issue. Therefore, this paper examines the role of infectious disease-based uncertainty on the dynamic spillovers between African stock markets and clean energy stocks.

The authors employ the dynamic spillover in time and frequency domains and the nonparametric causality-in-quantiles approach over the period of November 30, 2010, to August 18, 2021.

These findings are discernible in this study's analysis. First, the authors find evidence of strong connectedness between the African stock markets and the clean energy market, and long-lived but weak in the short and medium investment horizons. Second, the BDS test shows that nonlinearity is crucial when examining the role of infectious disease-based equity market volatility in affecting the interactions between clean energy stocks and African stock markets. Third, the causal analysis provides evidence in support of a nonlinear causal relationship between uncertainties due to infectious diseases and the connection between both markets, mostly at lower and median quantiles.

Considering the global and recent use of clean energy equities and the stock markets for hedging and speculative purposes, one may argue that rising uncertainties may significantly influence risk transmissions across these markets. This study, therefore, is the first to examine the role of pandemic uncertainty on the connection between clean stocks and the African stock markets.

Given the interest in sustainable development, this study aims to assess the relationship between CO₂ and urbanization as well as the role of world uncertainty in this association in a South African context.

This study focuses on yearly data from 1968 to 2020. To do this, the authors use the autoregressive distributed lag (ARDL) approach.

The authors find that urbanization’s effect on CO₂ emissions is only significant when it is augmented with world uncertainty. Moreover, this effect is negative (referring to a reduction in CO₂ emissions). Meanwhile, the authors find that GDP has a positive (that is, increasing) and significant effect on CO₂ emissions. Overall, policymakers should focus on decoupling economic growth from traditional fossil fuels that produce greenhouse gas emissions.

The existing body of research contains numerous studies examining the relationship between urbanization and CO₂ emissions. However, the dearth of research on the impact of global uncertainty on this connection is weak. Hence, this study aims to fill this gap and make a significant contribution to the field.

This study is aimed at interrogating the mediation role of public spending in domestic debt and economic growth nexus, drawing on debt overhang theory and the Keynesian view.

The study deployed a time series data (from 1981 to 2020) set drawn from the 2021 Central Bank of Nigeria (CBN) statistical bulletin. The mediation effect of public spending was tested by performing structural equation modeling after pre-estimation Augmented Dickey-Fuller unit root test.

Overall, the study outcomes indicate that domestic debt and public spending have significant positive effects on economic growth. Additionally, the study finds public spending to partially mediate domestic debt and economic growth nexus.

This study's outcomes provide insights that will enable fiscal policymakers to focus on internal borrowing, keep it under strict control to avert crowding out effects and improve public spending on productive projects to stimulate economic growth.

As the first study to question the mediation effect of public spending in domestic debt-economic growth relationship, it deepens and extends extant literature on domestic debt-economic growth nexus.