The Differential Effects of Oil Prices on the Development of Renewable Energy in Oil-Importing and Oil-Exporting Countries in Africa

The shift to renewable sources of energy has become a critical economic priority in African countries due challenges. However, investors the development face problems with decision making existence multiple criteria, such as oil prices and associated macroeconomic performance. This study aims analyze differential effects international other factors on both oil-importing oil-exporting Africa. uses panel vector error correction model (P-VECM) data from five net exporters (Algeria, Angola, Egypt, Libya Nigeria) importers (Kenya, Ethiopia, Congo, Mozambique South Africa). finds that higher positively affect by more economically competitive. Economic growth is also identified major driver energy. While high-interest rates negatively countries, it positive countries. Exchange play crucial role types negative effect findings this suggest policymakers should take holistic approach considers complex interplay factors, prices, growth, interest rates, exchange rates.