Does ecological footprint in ECCAS and ECOWAS converge? Empirical evidence from a panel unit root test with sharp and smooth breaks

Abstract

The costs due to climate change have been increasing day by day. In addition to the risk of losing our planet’s natural assets due to the increasing destructiveness of climate-related natural disasters and extreme climate events, we are also faced with grave economic risks. For this reason, researchers have recently focused on environmental issues. Nevertheless, they generally have investigated developed countries and ignored developing and least developed countries such as African countries. The United Nations (2015) report highlights that African countries should be specially investigated. Hence, the paper analyzes whether the ecological footprint in the Economic Community of Central African States (ECCAS) and Economic Community of West African States (ECOWAS) converges for the period from 1961 to 2017. We employ Bahmani-Oskooee et al.’s (2014) panel unit root test with sharp and smooth breaks. The empirical findings demonstrate that the ecological footprint is stationary in ECCAS and ECOWAS. Stated in other words, the ecological footprint in these countries converges. Therefore, policymakers could implement similar policies to reduce the ecological footprint in these countries. This policy framework paves the way for an effective sustainable development.