Exports, FDI Inflows, Renewable Energy and Economic Growth: An Empirical Evidence from Singapore

Iftikhar Ahmad, Arifa Saeed, Muhammad Ibrahim Saeed and Clement Chiahemba Ajekwe
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Iftikhar Ahmad: Assistant Professor, Hailey College of Banking and Finance, University of the Punjab (Old Campus), Lahore, Pakistan
Arifa Saeed: Assistant Professor, Department of Economics and Finance, Greenwich University, Karachi, Pakistan
Muhammad Ibrahim Saeed: Dr. Hasan Murad School of Management (HSM), University of Management and Technology, Lahore, Pakistan
Clement Chiahemba Ajekwe: Professor, Benue State University, Nigeria

Bulletin of Business and Economics (BBE), 2024, vol. 13, issue 1, 850-856

Abstract: The present study captures the impact of exports FDI inflows and renewable energy on economic growth of Singapore economy by covering time period 1989-2022 in the context of Cobb-Douglas production function. This study applies ARDL approach for obtaining empirical results. The estimated results will further be tested by taking most of the diagnostic tests to make check whether the results are robust or not. The findings of this study reveal that exports; FDI inflows and renewable energy have a positive and statistically significant impact on the economic growth. However short run impact of renewable energy is witnessed as insignificant while exports and FDI inflows contribute significantly in boosting economic growth. Moreover labor and capital also play a positive role in enhancing economic growth. Based on these findings this study suggests that exports FDI inflows and renewable energy may be given more importance by expanding their size if domestic production in Singapore is required to be increased.

Keywords: Economic Growth; Exports; FDI Inflows; Renewable Energy; ARDL; Singapore (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:rfh:bbejor:v:13:y:2024:i:1:p:850-856

DOI: 10.61506/01.00280

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