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Renewable Energy and Economic Growth in Saudi Arabia: A Test of Interrelationship |
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PP: 739-749 |
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doi:10.18576/jsap/130213
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Author(s) |
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Saad I. A. Elkalawy,
Abdullah S. Al Shammre,
Nagwa A. A. Abdelkawy,
Amani M. A. Mohammed,
Maged A. Hassan,
Abdelhameed A. Montash,
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Abstract |
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| In this paper, we examine the causal relationship between renewable energy and economic growth in Saudi Arabia from 1990 to 2021. Our hypothesis suggests a bidirectional causal link between economic growth and the adoption of renewable energy, emphasizing the significant impact of transitioning to renewables on Saudi Arabias economic growth. The findings indicate a unidirectional causal relationship in the short and long term, with real GDP influencing actual investment spending and the labor force influencing real GDP. Moreover, there is a unidirectional causal relationship between real GDP to renewable energy, suggesting that real GDP drives the development of renewable energy in both the short and long term.
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