IDEAS home Printed from https://ideas.repec.org/a/ibn/ijefaa/v16y2024i11p106.html
   My bibliography  Save this article

Green Economy and Sustainable Economic Growth: An Econometric Study Using the Panel Data Model during the Period (1998-2022)

Author

Listed:
  • Shahad Al-ghamdi
  • Haga El-imam
  • Vivian Nasrulddin

Abstract

The study aimed to measure the impact of the green economy on economic growth in some countries during the period (1998-2022) using a Panel Data model to measure the relationship between economic growth, expressed by Gross Domestic Product as a dependent variable, and green economy indicators as independent variables. The study sample consisted of five countries- Saudi Arabia, the United Arab Emirates, Malaysia, Singapore, and Sweden. Data were estimated using three models- the pooled regression model, fixed effects, and random effects. The results indicated that the fixed effects model was the most appropriate for this study. Using the statistical program EViews, the study found, as expected, a negative relationship between renewable energy consumption and Gross Domestic Product. Contrary to expectations, the study found an inverse relationship between carbon dioxide emissions and Gross Domestic Product. The study also found no significant effect of economic growth on both the value-added in the agricultural sector and the individual share of freshwater resources.

Suggested Citation

  • Shahad Al-ghamdi & Haga El-imam & Vivian Nasrulddin, 2024. "Green Economy and Sustainable Economic Growth: An Econometric Study Using the Panel Data Model during the Period (1998-2022)," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 16(11), pages 106-106, November.
    • Handle: RePEc:ibn:ijefaa:v:16:y:2024:i:11:p:106
    as

    Download full text from publisher

    File URL: https://ccsenet.org/journal/index.php/ijef/article/download/0/0/50896/55163
    Download Restriction: no
    File URL: https://ccsenet.org/journal/index.php/ijef/article/view/0/50896
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Somlanare Romuald Kinda & Muhammad Shafiullah, 2021. "Does the green economy really foster food security in Sub-Saharan Africa?," Cogent Economics & Finance, Taylor & Francis Journals, vol. 9(1), pages 1921911-192, January.
    2. Hussin Abdullah & Nor Aznin Abu Bakar & Mohd Razani Mohd Jali & Fatimah Wati Ibrahim, 2017. "The Current State of Malaysia s Journey towards a Green Economy: The Perceptions of the Companies on Environmental Efficiency and Sustainability," International Journal of Energy Economics and Policy, Econjournals, vol. 7(1), pages 253-258.
    3. Cai, Wenjia & Wang, Can & Chen, Jining & Wang, Siqiang, 2011. "Green economy and green jobs: Myth or reality? The case of China’s power generation sector," Energy, Elsevier, vol. 36(10), pages 5994-6003.
    4. Nicholas Apergis & Ruhul Salim, 2015. "Renewable energy consumption and unemployment: evidence from a sample of 80 countries and nonlinear estimates," Applied Economics, Taylor & Francis Journals, vol. 47(52), pages 5614-5633, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Gulmira Azretbergenova & Beybit Syzdykov & Talgat Niyazov & Turysbekova Gulzhan & Nazira Yskak, 2021. "The Relationship between Renewable Energy Production and Employment in European Union Countries: Panel Data Analysis," International Journal of Energy Economics and Policy, Econjournals, vol. 11(3), pages 20-26.
    2. Valentine, Scott Victor, 2014. "The socio-political economy of electricity generation in China," Renewable and Sustainable Energy Reviews, Elsevier, vol. 32(C), pages 416-429.
    3. Jean-François Ruault & Alice Dupré La Tour & André Evette & Sandrine Allain & Jean-Marc Callois, 2022. "A biodiversity-employment framework to protect biodiversity," Post-Print hal-03365820, HAL.
    4. Arvanitopoulos, T. & Agnolucci, P., 2020. "The long-term effect of renewable electricity on employment in the United Kingdom," Renewable and Sustainable Energy Reviews, Elsevier, vol. 134(C).
    5. Osorio-Aravena, Juan Carlos & Ram, Manish & Aghahosseini, Arman & Breyer, Christian, 2025. "Evaluation of employment effects during the transition of the Chilean energy system," Energy, Elsevier, vol. 318(C).
    6. Heshmati, Almas, 2015. "A Review of the Circular Economy and its Implementation," IZA Discussion Papers 9611, Institute of Labor Economics (IZA).
    7. Simas, Moana & Pacca, Sergio, 2014. "Assessing employment in renewable energy technologies: A case study for wind power in Brazil," Renewable and Sustainable Energy Reviews, Elsevier, vol. 31(C), pages 83-90.
    8. Bilgili, Faik & Kocak, Emrah & Kuskaya, Sevda & Bulut, Umit, 2022. "Co-movements and causalities between ethanol production and corn prices in the USA: New evidence from wavelet transform analysis," Energy, Elsevier, vol. 259(C).
    9. Long, Han & Prasad, Biman & Krishna, Victor & Tang, Kai & Chang, Chun-Ping, 2024. "Understanding the key determinants of Fiji's renewable energy," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 1144-1157.
    10. Guo, Zhi & Mao, Xianqiang & Lu, Jianhong & Gao, Yubing & Chen, Xing & Zhang, Shining & Ma, Zhiyuan, 2024. "Can a new power system create more employment in China?," Energy, Elsevier, vol. 295(C).
    11. Dong, Kangyin & Dou, Yue & Jiang, Qingzhe, 2022. "Income inequality, energy poverty, and energy efficiency: Who cause who and how?," Technological Forecasting and Social Change, Elsevier, vol. 179(C).
    12. Wang, Weilong & Yang, Xiaodong & Cao, Jianhong & Bu, Wenchao & Dagestani, Abd Alwahed & Adebayo, Tomiwa Sunday & Dilanchiev, Azer & Ren, Siyu, 2022. "Energy internet, digital economy, and green economic growth: Evidence from China," Innovation and Green Development, Elsevier, vol. 1(2).
    13. Ram, Manish & Osorio-Aravena, Juan Carlos & Aghahosseini, Arman & Bogdanov, Dmitrii & Breyer, Christian, 2022. "Job creation during a climate compliant global energy transition across the power, heat, transport, and desalination sectors by 2050," Energy, Elsevier, vol. 238(PA).
    14. Hlalefang Khobai & Nwabisa Kolisi & Clement Moyo & Izunna Anyikwa & Siyasanga Dingela, 2020. "Renewable Energy Consumption and Unemployment in South Africa," International Journal of Energy Economics and Policy, Econjournals, vol. 10(2), pages 170-178.
    15. Kabiru Saidu Musa & Rabiu Maijama’a, 2020. "Causal Relationship between Renewable Energy Consumption and Unemployment in Nigeria: Evidence from Toda and Yamamoto Causality Technique," Energy Economics Letters, Asian Economic and Social Society, vol. 7(1), pages 46-60, June.
    16. Bataille, Chris & Melton, Noel, 2017. "Energy efficiency and economic growth: A retrospective CGE analysis for Canada from 2002 to 2012," Energy Economics, Elsevier, vol. 64(C), pages 118-130.
    17. Elliott, Robert J.R. & Kuai, Wenjing & Maddison, David & Ozgen, Ceren, 2024. "Eco-innovation and (green) employment: A task-based approach to measuring the composition of work in firms," Journal of Environmental Economics and Management, Elsevier, vol. 127(C).
    18. Ayman Abdalmajeed Alsmadi & Marwan Alzoubi, 2022. "Green Economy: Bibliometric Analysis Approach," International Journal of Energy Economics and Policy, Econjournals, vol. 12(2), pages 282-289, March.
    19. Apergis, Nicholas & Lau, Marco Chi Keung, 2015. "Structural breaks and electricity prices: Further evidence on the role of climate policy uncertainties in the Australian electricity market," Energy Economics, Elsevier, vol. 52(PA), pages 176-182.

    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ibn:ijefaa:v:16:y:2024:i:11:p:106. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Canadian Center of Science and Education (email available below). General contact details of provider: https://edirc.repec.org/data/cepflch.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.