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Asymmetric impacts of natural gas consumption on renewable energy and economic growth in Kingdom of Saudi Arabia and the United Arab Emirates

handle: 11590/423349
The globe is now in ecological turmoil as a result of the unrelenting increase in global warming. As a result, governments worldwide are committing to decarbonizing the environment, with the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA) playing an important role in this effort. Hence, this paper evaluates the nonlinear (asymmetric) impact of natural gas consumption on renewable energy consumption and economic growth in the KSA and the UAE utilizing data stretching from 1990 to 2020. The study also considers other drivers of renewable energy consumption and economic growth, such as trade openness and CO2 emissions. The study utilizes nonlinear autoregressive distributed lag (ARDL) to evaluate these associations. The outcomes of bounds nonlinear ARDL (NARDL), affirm the long-run association between the variables in both countries. The nonlinear results show that positive and negative shocks in natural gas consumption have a negative impact on renewable energy in both UAE and KSA. In contrast, positive and negative shocks in natural gas consumption impact economic growth positively. The study proposed vital policy recommendations based on these results.
- Roma Tre University Italy
- Roma Tre University Italy
- University of Luzon Philippines
- Dhofar University Oman
- Cracow University of Economics Poland
Saudi Arabia, United Arab Emirates, renewable energy, economic growth, Asymmetric analysis; renewable energy; economic growth; Saudi Arabia; United Arab Emirates, Asymmetric analysis
Saudi Arabia, United Arab Emirates, renewable energy, economic growth, Asymmetric analysis; renewable energy; economic growth; Saudi Arabia; United Arab Emirates, Asymmetric analysis
citations This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).17 popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.Top 10% influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).Average impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.Top 10% visibility views 4 - 4views
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