Revisit the role of governance indicators to achieve sustainable economic growth of Saudi Arabia – pre and post implementation of 2030 Vision

Ghazala Aziz and Suleman Sarwar

Structural Change and Economic Dynamics, 2023, vol. 66, issue C, 213-227

Abstract: The study's goal is to explore and scrutinize the role of governance in achieving, manipulating, and modifying sustainable economic growth in Saudi Arabia. It also highlight the role of governance measures prior and after Vision 2030, by using ARDL and dynamic ARDL simulated econometric approaches. On contrary to the existing literature, the empirical estimations have reported the adverse impact of governance effectiveness on economic growth. Further, the findings have endorsed the significant and positive impact of voice of accountability, rule of law and corruption control. Moreover, the results of post Vision 2030 have illustrated that institutional dimension of governance has substantial and positive coefficients, while political stability and governance effectiveness need to be addressed to undertake sustainable economic growth in Saudi Arabia. In turn of policy recommendations, this study empowers administration in monitoring current strategies and later decision-making.

Keywords: Sustainable economic growth; Governance; Saudi Arabia; Dynamic ARDL (search for similar items in EconPapers)
JEL-codes: O11 O38 O47 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:streco:v:66:y:2023:i:c:p:213-227

DOI: 10.1016/j.strueco.2023.04.008

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