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Relevance of energy, green and blue factors to achieve sustainable economic growth: Empirical study of Saudi Arabia

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  • Waheed, Rida
  • Sarwar, Suleman
  • Alsaggaf, Majid Ibrahim

Abstract

Previous studies have investigated the role of energy and green indicators in achieving sustainable economic growth for different economies. Despite numerous studies, the significance of blue indicators is still missing in the context of Saudi Arabia. However, the study attempts to examine the implications of blue factors, as well as energy and green factors, to achieve sustainable economic growth. Also, no study tests the significance of Vision 2030 in enhancing the impact of these factors on economic growth. Dividing data into pre and post-Vision 2030 can highlight the factors that need government attention. The study's findings confirm that Saudi Arabia can come to a course of sustainable economic growth by enhancing sea trade and tourism, which affirms the importance of blue economic factors. The study's outcomes are beneficial for policymakers to evaluate the directions of Vision 2030. The significance of blue factors is highlighted in the study results, which is a guideline for authorities to enhance the role of blue factors by putting effort and investment into these factors.

Suggested Citation

  • Waheed, Rida & Sarwar, Suleman & Alsaggaf, Majid Ibrahim, 2023. "Relevance of energy, green and blue factors to achieve sustainable economic growth: Empirical study of Saudi Arabia," Technological Forecasting and Social Change, Elsevier, vol. 187(C).
    • Handle: RePEc:eee:tefoso:v:187:y:2023:i:c:s0040162522007053
    DOI: 10.1016/j.techfore.2022.122184
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    2. Li, Zhiyuan & Patel, Nikunj & Liu, Jiayang & Kautish, Pradeep, 2023. "Natural resources-environmental sustainability-socio-economic drivers nexus: Insights from panel quantile regression analysis," Resources Policy, Elsevier, vol. 86(PB).
    3. Ghazala Aziz & Rida Waheed & Majid Ibrahim Alsaggaf, 2023. "Investigating the Impact of Green Natural Resources and Green Activities on Ecological Footprint: A Perspective of Saudi Vision 2030," Sustainability, MDPI, vol. 15(11), pages 1-19, May.
    4. Zhang, Shuyuan & Xie, Wenlan & Sun, Siying & Wu, Fan & Xue, Ying, 2024. "Nexus of green energy innovation, governance quality, and CO2 emissions in natural resource sector: The role of sustainable human development," Resources Policy, Elsevier, vol. 88(C).
    5. Tan, Yali & Huang, Sen, 2023. "Sustainable development through digitalization: An exploration of natural resource extraction in China," Resources Policy, Elsevier, vol. 86(PA).
    6. Ghazala Aziz, 2023. "Impact of Green Innovation, Sustainable Economic Growth, and Carbon Emission on Public Health: New Evidence of Non-Linear ARDL Estimation," Sustainability, MDPI, vol. 15(4), pages 1-20, February.
    7. He, Qiao & Li, Wenjuan & Zhang, Panpan & Guo, Cheng, 2024. "Corporate governance, policy robustness and carbon neutrality in the digital economy: Insights from the natural resource exploitation sector," Resources Policy, Elsevier, vol. 88(C).

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