Table IV: Energy consumption per capita and national income per capita

In Table IV, the study showed the results of the causal relationship between energy consumption per capita, economic growth, and a set of control variables. In column (1) of Table IV, the study documented how past values energy consumption per capita positively and significantly affects the present whiles in Column 2; the study reported how energy consumption per capita is affected by the growth in the economy (GNI per capita), financial intermediation efficiency (banks credit to banks deposits ratio) and other macro-variables that influence finance and consumption (inflation, personal, remittances and FDI) in Africa.