Please use this identifier to cite or link to this item:
http://bura.brunel.ac.uk/handle/2438/11291
Title: | Financial development and economic growth in an oil-rich economy: The case of Saudi Arabia |
Authors: | Samargandi, N Fidrmuc, J Ghosh, S |
Keywords: | Financial development;Economic growth;ARDL method;Oil and non-oil |
Issue Date: | 2014 |
Citation: | Economic Modelling, 2014, 43 pp. 267 - 278 |
Abstract: | We investigate the effect of financial development on economic growth in the context of Saudi Arabia, an oil-rich economy. In doing so, we distinguish between the effects of financial development on the oil and non-oil sectors of the economy. Using the Autoregressive Distributed Lag (ARDL) Bounds test technique, we find that financial development has a positive impact on the growth of the non-oil sector. In contrast, its impact on the oil-sector growth and total GDP growth is either negative or insignificant. This suggests that the relationship between financial development and growth may be fundamentally different in resource-dominated economies. |
Description: | © 2014 Elsevier B.V. |
URI: | http://bura.brunel.ac.uk/handle/2438/11291 |
DOI: | http://dx.doi.org/10.1016/j.econmod.2014.07.042 |
ISSN: | 0264-9993 |
Appears in Collections: | Dept of Economics and Finance Research Papers |
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