The Nature of the Relationship between GDP and Energy Consumption in Saudi Arabia

Sayed, Mohamed Noureldin; Alayis, Mahmoud M. Hussein

doi:10.5539/ijbm.v14n7p28

Cited by 2 publications

(3 citation statements)

References 8 publications

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“…This implies that when a nation seeks to enhance its GDP, it should prioritize and encourage investment and consumption to the greatest extent possible (Figure 2). Saudi Arabia is oil-dependent, contributing 87% of budget revenues, 90% of export earnings, and 42% of the nation's GDP [5]. By Vision 2030, Saudi Arabia has constructed its framework based on three primary themes, each encompassing distinct goals slated to be accomplished by 2030.…”

Section: Introductionmentioning

confidence: 99%

“…1. Vision 2030 aims to establish a robust economy by enhan investment strategies to tap into lucrative economic sectors, encourage economic var Saudi Arabia is oil-dependent, contributing 87% of budget revenues, 90% of export earnings, and 42% of the nation's GDP [5]. By Vision 2030, Saudi Arabia has constructed its framework based on three primary themes, each encompassing distinct goals slated to be accomplished by 2030.…”

Section: Introductionmentioning

confidence: 99%

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Analyzing GDP Growth Drivers in Saudi Arabia: Investment or Consumption: An Evidence-Based ARDL-Bound Test Approach

Mohammed

2024

Sustainability

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This study delves into the intricate interplay of economic growth components, specifically focusing on consumption and investment in Saudi Arabia from 2000 to 2022. Employing vector error correction models and co-integration techniques, we analyze the short- and long-term dynamics within the relationship of consumption, investment, and economic growth. Granger causality analysis is also used to discern these pivotal variables’ causal connections. Our empirical analysis reveals a persistent long-term cointegration relationship among the variables, underscoring the enduring nature of their interdependency. Furthermore, our findings highlight consumption and investment’s statistically significant positive impact on economic growth. Notably, the short-term analysis unveils a stable model characterized by an annual adjustment to equilibrium of 100%. Moreover, the Granger causality study demonstrates unidirectional causal linkages among consumption, investment, and economic growth. These findings hold substantial implications for policy formulation in Saudi Arabia. Policymakers must grasp the ramifications of burgeoning prosperity and evolving private consumption patterns on future environmental outcomes. Achieving sustainable long-term results necessitates equal emphasis on bolstering private consumption and fostering other facets of economic growth.

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Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Analyzing GDP Growth Drivers in Saudi Arabia: Investment or Consumption: An Evidence-Based ARDL-Bound Test Approach

Mohammed

2024

Sustainability

View full text Add to dashboard Cite

show abstract

“…Saudi Arabia is oil-dependent, contributing 87% of budget revenues, 90% of export earnings, and 42% of the nation's GDP [5]. By Vision 2030, Saudi Arabia has constructed its framework based on three primary themes, each encompassing distinct goals slated to be accomplished by 2030.…”

Section: Introductionmentioning

confidence: 99%

Analyzing GDP Growth Drivers in Saudi Arabia: Investment or Consumption: An Evidence-Based ARDL Bound Test Approach

Mohammed Gasmelsied Ahmed

2024

Preprint

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This study delves into the intricate interplay of economic growth components, specifically focusing on Consumption and investment in Saudi Arabia from 2000 to 2022. Employing vector error correction models and cointegration techniques, we analyze the short- and long-term dynamics within the relationship of Consumption, investment, and economic growth. Granger causality analysis is also used to discern these pivotal variables' causal connections. Our empirical analysis reveals a persistent long-term cointegration relationship among the variables, underscoring the enduring nature of their interdependency. Furthermore, our findings highlight Consumption and investment's statistically significant positive impact on economic growth. Notably, the short-term analysis unveils a stable model characterized by an annual adjustment to equilibrium of 100%.Moreover, the Granger causality study demonstrates unidirectional causal linkages between Consumption, investment, and economic growth. These findings hold substantial implications for policy formulation in Saudi Arabia. Policymakers must grasp the ramifications of burgeoning prosperity and evolving private consumption patterns on future environmental outcomes. Achieving sustainable long-term results necessitates equal emphasis on bolstering private Consumption and fostering other facets of economic growth.

show abstract

The Nature of the Relationship between GDP and Energy Consumption in Saudi Arabia

Cited by 2 publications

References 8 publications

Analyzing GDP Growth Drivers in Saudi Arabia: Investment or Consumption: An Evidence-Based ARDL-Bound Test Approach

Analyzing GDP Growth Drivers in Saudi Arabia: Investment or Consumption: An Evidence-Based ARDL-Bound Test Approach

Analyzing GDP Growth Drivers in Saudi Arabia: Investment or Consumption: An Evidence-Based ARDL Bound Test Approach

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