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|Title:||Financial development and economic growth in an oil-rich economy: The case of Saudi Arabia|
|Keywords:||Financial development;Economic growth;ARDL method;Saudi Arabia|
|Citation:||Economics and Finance Working Paper, Brunel University: 13-12, May 2013|
|Abstract:||We investigate the effect of financial development on economic growth in the context of an oil-rich economy. In doing so, we allow for the effect of financial development to be different for the oil and non-oil sectors of the economy in the long–run. 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 Saudi Arabia. In contrast, its impact on total GDP growth is negative but insignificant.|
|Appears in Collections:||Economics and Finance|
Dept of Economics and Finance Research Papers
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