The Role of Financial Development in Private Sector Growth in Saudi Arabia

Fakhri Hasanov, Abdulelah Darandary and Ryan Alyamani
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Ryan Alyamani: King Abdullah Petroleum Studies and Research Center

Discussion Papers from King Abdullah Petroleum Studies and Research Center

Abstract: Saudi Vision 2030 (SV2030), the masterplan for the socioeconomic development of the Kingdom, places considerable emphasis on the development of the private sector in the diversification of the economy. This plan aims to have the private sector account for 65% of the total GDP of the Kingdom by 2030. As part of SV2030, the Financial Sector Development Program (FSDP), a program for the realization of targets and initiatives, was launched, aiming to enable and support financial institutions to promote the development of the private sector. Against this backdrop, we investigate the role of financial development (FD) in personal economic growth. We conduct a multivariate cointegration analysis using data from almost half a century in the extended production function framework.

Keywords: Agent Based modeling; Analytics; Applied Research; Autometrics (search for similar items in EconPapers)
Pages: 48
Date: 2023-12-11
New Economics Papers: this item is included in nep-ara and nep-fdg
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https://www.kapsarc.org/research/publications/the- ... wth-in-saudi-arabia/ First version, 2023

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Persistent link: https://EconPapers.repec.org/RePEc:prc:dpaper:ks--2023-dp33

DOI: 10.30573/KS--2023-DP33

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