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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;Saudi Arabia
Issue Date: 2013
Publisher: Brunel University
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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