Nexus of GDP, FDI, Inflation, Exchange Rate, Renewable Energy, Trade Openness, and Open Innovation in Singapore

New evidence from the ARDL method

Bibliographic Data

ID7397206
AuthorsVu Ngoc Xuan (0000-0003-4364-9785, corresponding author)
Year2025
Volume9
Pages100628-100628
Publication date2025-04-14
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueSustainable Futures (JOURNAL)
Journal identifiersISSN: 2666-1888
PublisherElsevier BV (PUBLISHER)
DOI10.1016/j.sftr.2025.100628
OpenAlexW4409424856
LanguageEN
Citations received1
References cited40

This study explores the intricate nexus between gross domestic product (GDP), inflation (INF), exchange rate (EXC), renewable energy (REN), foreign direct investment (FDI), trade openness (TO), and open innovation (OI) in Singapore using the autoregressive distributed lag (ARDL) method. Drawing on annual data from 1990 to 2022, the study investigates these variables' short- and long-run dynamics, providing new empirical evidence on their interrelationships. The findings indicate that REN and TO positively influence GDP growth, while INF and EXC volatility have adverse effects. Moreover, FDI and open innovation emerge as critical drivers of sustainable economic growth, showcasing Singapore's strategic policy framework. The study provides significant policy implications, emphasizing the need to foster innovation ecosystems and REN investments while ensuring macroeconomic stability to enhance sustainable growth. This study also explores the intricate nexus between GDP, FDI, INF, EXC, REN, TO, and open innovation in Singapore using the ARDL method. The study investigates these variables' short- and long-run dynamics, providing new empirical evidence on their interrelationships. The findings indicate that REN and TO positively influence GDP growth, while INF and EXC volatility have adverse effects. Moreover, FDI and open innovation emerge as critical drivers of sustainable economic growth, showcasing Singapore's strategic policy framework. The study provides significant policy implications, emphasizing the need to foster innovation ecosystems and REN investments while ensuring macroeconomic stability to enhance sustainable growth

Economics · Exchange rate · Foreign direct investment · Inflation (cosmology · International economics · Macroeconomics · Monetary economics · Nexus (standard · Openness to experience · Renewable energy · Energy, Environment, Economic Growth · Engineering · Fiscal Policy and Economic Growth · Global trade and economics

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