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Saudi Financial Structure and Economic Growth: A Macroeconometric Approach

Mohammed Ageli () and Shatha Mousa Zaidan

MPRA Paper from University Library of Munich, Germany

Abstract: This paper investigates the nexus between financial sector development and economic growth in the Saudi economy over the period 1970-2012 by using four alternative proxies for financial development and several techniques including unit root tests, the co-integration test, the Granger Causality Test, and the Vector Error Correction Model (VECM). We used time series econometrics techniques to examine the causal relationship between financial sector development and economic growth in the Saudi economy. The results obtained from the analyses show that there is a positive relationship between financial sector development and economic growth in Saudi Arabia. The development of the financial system will thus have a positive impact on the growth of the Saudi economy.

Keywords: Financial Sector Development; Unit Root test; co-integration test; Vector Error Correction Model (VECM); Augmented Dickey Fuller (ADF); Economic Growth; Saudi Arabia (search for similar items in EconPapers)
JEL-codes: E44 O11 O53 (search for similar items in EconPapers)
Date: 2013-01-29
New Economics Papers: this item is included in nep-ara, nep-cwa, nep-fdg and nep-mac
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Published in International Journal of Economics and Finance 3.5(2013): pp. 30-35

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