Renewable and non-renewable energy consumption, foreign direct investment and economic growth in Saudi Arabia: Evidence from an Autoregressive Distributed Lag modeling approach

We are investigating the causal link amid renewable and non-renewable energy consumption, GDP, and foreign direct investment in Saudi Arabia. To achieve this goal, we suggest a modern approach to the symmetrical causality of Toda-Yamamoto for the period 1980–2021. Using the autoregressive distributed lag (ARDL) cointegration method was considered to identify the long and short-run dynamic relationships among variables under investigation. Initial empirical findings suggest a short-term bidirectional correlation among renewable and non-renewable energy consumption and GDP. Likewise, there is evidence of unidirectional causal relationships from GDP to foreign direct investment and from foreign direct investment to trade and both renewable and non-renewable energy consumption. The long-term causal link reveals unidirectional causal relationships from GDP to both renewable and non-renewable energy consumption, from foreign direct investment to GDP, and from non-renewable energy consumption to renewable energy consumption.本研究旨在探究沙特阿拉伯境内可再生能源消费、不可再生能源消费、国内生产总值（GDP）与外商直接投资（Foreign Direct Investment, FDI）之间的因果关联。为达成该研究目标，本文针对1980年至2021年的样本区间，提出适配户田-山本（Toda-Yamamoto）对称因果检验的现代化分析方法。本文采用自回归分布滞后（autoregressive distributed lag, ARDL）协整检验方法，以识别所考察变量间的长期与短期动态关联。初始实证结果表明，可再生与不可再生能源消费与GDP之间存在短期双向相关关系。研究同时发现存在如下单向因果关系：GDP对外商直接投资存在单向因果关系，外商直接投资对贸易以及可再生与不可再生能源消费均存在单向因果关系。长期因果关联则揭示：GDP对可再生与不可再生能源消费均存在单向因果关系，外商直接投资对GDP存在单向因果关系，不可再生能源消费对可再生能源消费存在单向因果关系。