Economic Impacts of Renewable Energy on the Economy of UAE
This research is concerned with the study and analysis of the economic impacts of renewable energy on the UAE's economy. We took annual time series data for variables that include renewable energy consumption, per capita GDP, capital creation, employment, trade, inflation rate, interest rate, f...
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| Format: | Article |
| Language: | English |
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EconJournals
2022-01-01
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| Series: | International Journal of Energy Economics and Policy |
| Subjects: | |
| Online Access: | https://econjournals.com/index.php/ijeep/article/view/11982 |
| _version_ | 1797917076845756416 |
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| author | Mohammad Sulieman Jaradat Khaled Abdalla Moh'd AL-Tamimi |
| author_facet | Mohammad Sulieman Jaradat Khaled Abdalla Moh'd AL-Tamimi |
| author_sort | Mohammad Sulieman Jaradat |
| collection | DOAJ |
| description | This research is concerned with the study and analysis of the economic impacts of renewable energy on the UAE's economy. We took annual time series data for variables that include renewable energy consumption, per capita GDP, capital creation, employment, trade, inflation rate, interest rate, fixed exchange rate, foreign direct investment, and trade openness for the time period from 2010 to 2020. Initially, we applied the autoregressive distributed lag (ARDL) model to assess the long-term relationship between the variables. We encountered a multi-linearity problem where we found the correlation between the independent variables. Therefore, we adopted the alternative approach of the Ordinary Least Squares (OLS) technique to measure the relationship between renewable energy and the UAE economy. We have made an equation from OLS, in which we take renewable energy and economic growth as the independent and dependent variables, respectively. The results confirmed that there is a statistically significant relationship between renewable energy and the economy in the United Arab Emirates. |
| first_indexed | 2024-04-10T13:07:26Z |
| format | Article |
| id | doaj.art-afdca85ae5744e339196502174f7d103 |
| institution | Directory Open Access Journal |
| issn | 2146-4553 |
| language | English |
| last_indexed | 2024-04-10T13:07:26Z |
| publishDate | 2022-01-01 |
| publisher | EconJournals |
| record_format | Article |
| series | International Journal of Energy Economics and Policy |
| spelling | doaj.art-afdca85ae5744e339196502174f7d1032023-02-15T16:12:52ZengEconJournalsInternational Journal of Energy Economics and Policy2146-45532022-01-0112110.32479/ijeep.11982Economic Impacts of Renewable Energy on the Economy of UAEMohammad Sulieman Jaradat0Khaled Abdalla Moh'd AL-Tamimi1Department of Banking and Financial Sciences, Ajloun National University, Jordan,Department of Financial and Administrative Sciences, Irbid University College, Al-Balqa’ Applied University, JordanThis research is concerned with the study and analysis of the economic impacts of renewable energy on the UAE's economy. We took annual time series data for variables that include renewable energy consumption, per capita GDP, capital creation, employment, trade, inflation rate, interest rate, fixed exchange rate, foreign direct investment, and trade openness for the time period from 2010 to 2020. Initially, we applied the autoregressive distributed lag (ARDL) model to assess the long-term relationship between the variables. We encountered a multi-linearity problem where we found the correlation between the independent variables. Therefore, we adopted the alternative approach of the Ordinary Least Squares (OLS) technique to measure the relationship between renewable energy and the UAE economy. We have made an equation from OLS, in which we take renewable energy and economic growth as the independent and dependent variables, respectively. The results confirmed that there is a statistically significant relationship between renewable energy and the economy in the United Arab Emirates.https://econjournals.com/index.php/ijeep/article/view/11982Economic impactsrenewable energyEconomy of the UAE |
| spellingShingle | Mohammad Sulieman Jaradat Khaled Abdalla Moh'd AL-Tamimi Economic Impacts of Renewable Energy on the Economy of UAE International Journal of Energy Economics and Policy Economic impacts renewable energy Economy of the UAE |
| title | Economic Impacts of Renewable Energy on the Economy of UAE |
| title_full | Economic Impacts of Renewable Energy on the Economy of UAE |
| title_fullStr | Economic Impacts of Renewable Energy on the Economy of UAE |
| title_full_unstemmed | Economic Impacts of Renewable Energy on the Economy of UAE |
| title_short | Economic Impacts of Renewable Energy on the Economy of UAE |
| title_sort | economic impacts of renewable energy on the economy of uae |
| topic | Economic impacts renewable energy Economy of the UAE |
| url | https://econjournals.com/index.php/ijeep/article/view/11982 |
| work_keys_str_mv | AT mohammadsuliemanjaradat economicimpactsofrenewableenergyontheeconomyofuae AT khaledabdallamohdaltamimi economicimpactsofrenewableenergyontheeconomyofuae |