Economic growth in OPEC nations: The role of renewable energy consumption, CO2 emissions, and foreign direct investment

Background: The nations that make up OPEC (the Organization of the Petroleum Exporting Countries) have traditionally depended on gas and oil export earnings. However, there is a significant global shift towards renewable energy in an effort to reduce the impact of climate change. This research aims to analyze the effect of Renewable Energy Consumption, CO2 Emissions, and Foreign Direct Investment (FDI) on the Economic Growth in OPEC Nations partially and simultaneously. Methods: In this research, panel data regression analysis techniques are combined with quantitative research approaches. Secondary data from the World Development Indicators (WDI) for the years 2001–2020 were used in this research. Finding: This research showed that the Renewable Energy Consumption and CO2 Emissions variables do not affect economic growth in OPEC countries. Meanwhile, the foreign direct investment variable has a positive and significant effect on economic growth in OPEC countries. Conclusion: OPEC countries need to diversify their economies and CO2 reduce their dependence on oil as there is a global shift towards cleaner energy. Novelty/Originality of this article: This study analyzes the impact of Renewable Energy Consumption, CO2 Emissions, and Foreign Direct Investment on Economic Growth in OPEC countries using panel data regression analysis. The study's findings show that only Foreign Direct Investment positively and significantly impacts economic growth.

背景：石油输出国组织（OPEC，Organization of the Petroleum Exporting Countries）成员国传统上依赖天然气和石油出口收入。然而，全球正朝着可再生能源方向发生重大转变，以减轻气候变化的影响。本研究旨在部分及综合分析可再生能源消费、二氧化碳排放及外国直接投资（FDI，Foreign Direct Investment）对OPEC国家经济增长的影响。

方法：本研究结合面板数据回归分析技术与定量研究方法，采用2001–2020年世界发展指标（WDI，World Development Indicators）的二手数据。

发现：本研究表明，可再生能源消费与二氧化碳排放变量对OPEC国家经济增长无显著影响；而外国直接投资变量对OPEC国家经济增长具有积极且显著的影响。

结论：鉴于全球正转向清洁能源，OPEC国家需实现经济多元化并降低对石油的依赖。

本文创新性：本研究采用面板数据回归分析，探究可再生能源消费、二氧化碳排放及外国直接投资对OPEC国家经济增长的影响。研究结果显示，仅外国直接投资对经济增长具有积极且显著的影响。