The Role of Petrochemical Sector Exports in the Diversification of the Saudi Economy: A Scenario Analysis of Foreign and Domestic Price Shocks

Fakhri Hasanov, Muhammad Javid and Heyran Aliyeva
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Heyran Aliyeva: King Abdullah Petroleum Studies and Research Center

Discussion Papers from King Abdullah Petroleum Studies and Research Center

Abstract: Diversification of the economy, including exports, is a core goal of Saudi Vision 2030 (SV2030). The petrochemical sector can considerably contribute to the Kingdom’s diversification strategy, as it holds a substantial share in non-oil exports. First, this study econometrically estimated how exports of chemicals and rubber-plastics were shaped by theoretically articulated domestic and foreign factors over the 1993-2020 period. Then, the estimated export equations were integrated into a general equilibrium model, called the King Abdullah Petroleum Studies and Research Center (KAPSARC) Global Energy Macroeconometric Model (KGEMM), and a scenario analysis was conducted for the diversification implications of foreign and domestic price shocks until 2035.

Keywords: Agent based modeling; Analytics; Applied Research; Autometrics (search for similar items in EconPapers)
Pages: 53
Date: 2023-10-22
New Economics Papers: this item is included in nep-ara, nep-ene and nep-int
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https://www.kapsarc.org/research/publications/the- ... mestic-price-shocks/ First version, 2023

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Persistent link: https://EconPapers.repec.org/RePEc:prc:dpaper:ks--2023-dp21

DOI: 10.30573/KS--2023-DP21

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